Ondine Capital announced the first close of its third USD-denominated venture capital fund. The venture capital firm focuses on frontier technologies including semiconductors and artificial intelligence. Limited partners include leading semiconductor companies in Taiwan.
Early portfolio
Recursive Superintelligence raised $650 million at a $4 billion pre-money valuation. Bot Auto launched driverless freight operations with Ryan Transportation. Salience Labs closed a $125 million financing round.
New partner
Ondine Capital appointed Brian Yen as Partner. He previously led the Taipei office at Headline Asia as Principal. He will focus on early-stage founders building intelligent software and physical AI platforms.
Fund strategy
Fund III will invest across the full AI value chain. Target areas include AI foundation models, next-generation semiconductors, AI infrastructure, AI-native software, and physical AI applications. The firm builds on deep expertise in semiconductors and deep technology.
Ondine Capital is actively deploying capital from Fund III. The firm is evaluating global opportunities in AI and semiconductors. It supports category-defining companies across these sectors.