SparkLabs Taipei raises $4.25 million for its first venture capital fund

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SparkLabs Taipei, a part of SparkLabs Group, the worldwide network of accelerator funds and programs that functions with emerging startup ecosystems, has raised $4.25 million in a first near headed by CTBC Group, together with independent investors, for the first venture capital fund. SparkLabs Taipei also announced today it has included Atlanta Hawks participant Jeremy Lin, who ignited”Linsanity” since the very first player of Chinese- or Taiwanese-descent from the NBA, to its board of advisers.

The financing was revealed in a Form D filed with the SEC this week which states SparkLabs Taipei’s ultimate purpose of the fund is to raise $10 million.

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In a prepared statement, Lin stated “SparkLabs Taipei is an advanced finance offering support and advice for entrepreneurs at Taiwan. Being a trailblazer is tough and using a solid support is important to your success. I am eager to join a strong group of partners and advisers in SparkLabs Taipei and look forward to meeting some excellent entrepreneurs.”

Additional SparkLabs Taipei advisers include YouTube co-founder Steve Chen; Kabam co-founder and CEO Kevin Chou; and RedOctane (the manufacturer of Guitar Hero) co-founders Charles and Kai Huang.

SparkLabs Taipei premiered last year under the direction of Edgar Chiu, the former COO of Taipei-based program developer Gogolook (obtained by Korean online giant Naver at 2013) and heritage general director of Camp Mobile Taiwan, section of Naver’s mobile program development subsidiary. Within a meeting with TechCrunch in the moment, Chiu stated SparkLabs Taipei’s objective would be to help prepare Taiwanese startups to get into international markets.

In a media announcement, Chiu stated “Jeremy Lin embodies that which we search for in our own entrepreneurs. Persistence, dedication, and hard work. Our staff is very excited and pleased to have him on board and connect an already leading board of advisers. Plus I have been a huge fan when he joined the NBA, throughout the craziness of’ Linsanity’ along with his continuing excellence in the NBA.”

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Though the SparkLabs network backs technology firms from all over the Earth, it’s known specifically for its function with Asian startups. SparkLabs started in South Korea at 2012, and ever since that time has started accelerator programs round the Asia-Pacific area and in Washington, D.C., such as applications specializing in financial engineering, agriculture, cybersecurity and blockchain startups, and energy.

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