Growth Capital
We invest in companies with strong growth potential and competitive advantage to grow via IPO or M&A strategies.
Portfolio Companies
Discover the companies in which we are investing under this strategy
COMPANY
HEADQUARTER
YEAR
PRODUCT
HEADQUARTER
Taiwan
YEAR
2017
PRODUCT
Aerospace parts
Drewloong Precision Inc. (DPI) (4572 TT) designs, manufactures, processes and assembles aerospace parts for fuselage and engine.
HEADQUARTER
Taiwan
YEAR
2017
PRODUCT
Cable customer premises equipment
Compal Broadband Networks (6674 TT) develops a complete line of products in 4 major categories: Networking, Home Security, Home Entertainment and Wireless Accessories, to meet customers’ specific needs in all aspects.
HEADQUARTER
Taiwan
YEAR
2017
PRODUCT
Golf clubs (head)
Fusheng Precision (6670 TT) specializes in precision metal processing and enjoys economies of scale and technical barriers as the world’s largest contract manufacturer of golf clubs (head), and expands to aerospace and healthcare applications.
HEADQUARTER
Taiwan
YEAR
2017
PRODUCT
Linear motion precision components
GMT Global, Inc. (4573 TT) manufactures precision components and modules for linear motion for automation equipment. The company has built a solid track record and customer base in Greater China and Germany, supplying to top-tier consumer electronics, semiconductor and auto equipment manufacturers.
HEADQUARTER
Taiwan
YEAR
2018
PRODUCT
Medical equipment
APEX (4106 TT) provides a range of healthcare solutions, manufacturing and delivering a wide range of products: from support surfaces for the prevention of pressure ulcers, continuous positive airway pressure devices (CPAP) for treating obstructive sleep apnea to medical equipment for providing full line products.
HEADQUARTER
Taiwan
YEAR
2019
PRODUCT
Materials Analysis、Failure Analysis
MSScorps provides professional materials analysis services in Nano-structure analysis, as well as a total solution for electrical and physical failure analysis services.
HEADQUARTER
Taiwan
YEAR
2019
PRODUCT
Electronic Component and EMC/RF/Safety Authentication
Wendell is a comprehensive EMC (Electromagnetic Compatibility) and circuit protection solution provider. Different from separate Electronic Component Providers and Authentication Servicers, Wendell provides one-stop shopping service by integrating Electronic Component Selling, Debugging Consultancy from its in-house engineers and EMC/RF/Safety Authentication. Customers can greatly benefit from time saving. As of now, Wendell has built a great customer base around countries in North-East Asia.
HEADQUARTER
Taiwan
YEAR
2019
PRODUCT
Automotive a/c compressors
Young Shine Electric Co., Ltd manufactures automotive a/c compressors and heat exchangers. The company is IATF-16949 certified and features advanced testing facilities, aiming to expand its clients to Europe and the U.S in the near future.
HEADQUARTER
Taiwan
YEAR
2020
PRODUCT
Wireless RF Module
Ampak Technology provides a full range of wireless RF modules for consumer networking products, as well as for Internet of Things, industrial control, medical industry and automotive markets.
HEADQUARTER
Taiwan
YEAR
2021
PRODUCT
Thermal clad and circuit board
TCLAD Technology Corporation was founded by Polytronics Technology (6224 TT) in 2020, and set up an SPV in the US to acquire the thermal clad division of Henkel US Operations Corporation. TCLAD Technology is a worldwide industry leader in thermal clad and circuit board.
HEADQUARTER
Taiwan
YEAR
2021
PRODUCT
CMOS image sensor color filter and micro-lens, wafer level multi-film
VisEra Technologies Company Limited (6789 TT) was founded in 2003 as the subsidiary in Taiwan of Semiconductor Manufacturing Company (TSMC, 2330 TT). VisEra is a professional foundry providing 8" and 12" wafer level manufacturing services for optical devices, such as image sensors, light sensors, and optical finger print sensors.
HEADQUARTER
Jiangsu
YEAR
2015
PRODUCT
Qianye tofu, cooked frozen noodles and soy based snacks
Founded in 2005, Deanfa Food is a leading supplier of qianye tofu in China with B2B distribution channels across most provinces. With the foundation it has built, Deanfa is now expanding its product lines into cooked frozen noodles and soy based snacks.
HEADQUARTER
Jiangsu
YEAR
2016
PRODUCT
Carbon fiber intermediate and product
Aosheng hi-tech is a leading manufacturer of high-performance composite materials such as carbon fiber and prepreg. Its products are used in wind turbine blade, construction, consumer electronics, healthcare and sporting goods. The company has 15 year of experience in the carbon fiber industry in China. It cooperates with leading suppliers and customers in this industry such as SGL, Toho Tenax,  Vestas, Nordex, LM, Siemens, Ju Teng, Lenovo, China Communications Construction, China Railway Group and etc.
HEADQUARTER
Jiangsu
YEAR
2016
PRODUCT
Latex mattress, latex pillow
Aidefu is the leader and largest latex mattress and pillow manufacturer in China. Its main customers are famous brand enterprises like IKEA (Sweden), Derucci (China) and Kuka (China). Aidefu strives to develop its own brand in the future.
HEADQUARTER
Fujian
YEAR
2016
PRODUCT
King oyster mushroom
Established in Fujian in 2009, Zhongyan Mushroomindustry Co., Ltd is engaged in the cultivation of industrialized King Oyster Mushroom. It currently has four factories in Fujian, Tianjin and Chengdu, with a combined capacity of 150mt/day and 55k mt/year, making it one of the top three suppliers of King Oyster Mushroom in Mainland China.
HEADQUARTER
Shanghai
YEAR
2017
PRODUCT
Enterprise communications IT solutions
Established in 2011, Welljoint is an enterprise communications solution provider. Its services include call center system integration, voice recognition engine, AI technology and cloud SaaS call center. Supported by a management team with backgrounds from international IT giants, the company is focused on clients in the financial sector, which has high entry barriers regarding domain knowledge. Close customer relationships with sector leaders give the company a competitive edge and a solid foundation for future growth.
HEADQUARTER
Zhejiang
YEAR
2018
PRODUCT
PP powder and modified plastic particles
Established in 2009, Hong Ji Petrochemical develops and manufactures PP powder, propylene and modified plastic particles with respective capacities of 400k mt, 450k mt and 120k mt per annum.
HEADQUARTER
Hubei
YEAR
2019
PRODUCT
Organotin-based PVC heat stabilizers, chlorpyrifos pesticide prodrugs and intermediates
Established in 2004 in Suizhou of Hubei Province, Benxing New Material is the leading producer of methyl tin thiol ester in terms of market share, and is among the top three vendors of active ingredients in chlorpyrifos. The firm is currently the largest supplier of methyl tin PVC heat stabilizer in the world, with 24% of market share. The company has been aggressively developing upstream intermediate products, which serves to stabilize production, elevate profit margins, and ensure its long-term competitive edge within the industry.
HEADQUARTER
Jiangsu
YEAR
2020
PRODUCT
Alicyclic epoxy resins
Established in 2004, Tetra is currently a top 3 global specialty epoxides manufacturer. Tetra’s cycloaliphatic epoxides products can be used in UV coatings & inks, photoresists, semiconductors, LED encapsulation, 3D printing, advanced composite materials and other industries. Tetra is the leader in the industry and its clients include LG, Samsung, Dow and PPG, among others. The company has recently established new plants in Shandong Province, and is expected to drive growth in sales.
HEADQUARTER
Anhui
YEAR
2020
PRODUCT
Protective film and tape for consumer electronics
Established in 2006, MingXun’s products are mainly used in the manufacturing process of consumer electronics such as smartphones, notebook computers, and tablets. Its clients include Apple, Huawei, and others. As a certified supplier for Apple, the company’s self-developed recyclable protective film (RPF) products generate both environmental and economic benefits. The company has seen continuous growth in shipment volume since it became a designated supplier for Apple. It enjoys first-mover advantage and expects an increase of market share against import substitution. MingXun is optimistic about the horizontal and vertical development of eco-friendly materials after Apple’s adoption, and will expand its production capacity which will drive even more sales.
HEADQUARTER
Taiwan
YEAR
2017
PRODUCT
Consumer
World Gym Taiwan officially entered Taiwan in 2001, actively promoting modern fitness centers to bring people a healthy and professional sports environment. During this period, it acquired 6 California fitness centers in 2010. It currently serves more than 100 branches and is the largest fitness chain club in Taiwan.
Value Creation
We aim to create value that will contribute to the growth of enterprises, investors and the whole community.
M&A Opportunities

We identify M&A opportunities that will allow enterprises to scale up and enhance competitiveness.
Strategic Collaboration Opportunities
We seek strategic collaboration opportunities that provide resources for enterprises to transform or upgrade, and introduce portfolio companies to new business relationships.
IPO Assistance

We assist local companies in conducting IPOs in Taiwan, or assist Taiwanese companies in listing on China’s A-share market.
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Healthcare
We focus on high-potential startups in biotech and pharmaceuticals, med-tech, and digital health care industries, along with broader biomedical and healthcare service sectors.