As Taiwan's ties with Central and Eastern Europe deepen, Taiwan's state-level venture capital firm Taiwan Capital, which is 40% funded by Taiwan's National Development Fund (NDF), is seeking to expand investment opportunities in the region and bridge the gap between start-up companies interested in expanding their businesses in Asia and elsewhere, as per Nikkei reported.

Taiwan Capital plans to invest in four more companies with the Central and Eastern Europe (CEE) Investment fund this year, bringing the total to at least six. In 2017, Taiwan Capital was established with the support of the National Development Fund and private enterprises, managing US$8.5 million.

Mr. Mitch Yang, Managing Partner of CEE fund, said the goal is to "cooperate with Poland, the Czech Republic, Slovakia, Romania, the Baltics and other countries to make contributions and bring products to the region." 

Thanks to the cooperation during the epidemic and Lithuania's agreement to establish a Taiwan representative office in the capital Vilnius in November 2012, Taiwan's ties with CEE countries have become closer; Yang said that Taiwan's technological strengths have helped companies such as Litilit, a Lithuanian industrial femtosecond laser developer, to develop their business. 

The CEE fund has made five investments so far, totalling €19.8 million, with 40 per cent of its investments expected to be in the health and biotechnology sectors; Yang mentioned that start-ups from the region could be involved in Ukraine's reconstruction.

The World Bank estimates that the reconstruction of Ukraine will cost US$411 billion over the next ten years, and Western allies are already discussing how to help Ukraine get back on its feet; Yang said, "There are many new electricity and road infrastructures, many hardware and software, and electronic equipment for the reconstruction of Ukraine," and Taiwan-Capital-invested start-ups may be involved in these projects.