Micron Ventures to invest $200 million in deep tech startups
Micron Technology says that its venture capital team, Micron Ventures, will be investing USD 200 million in deep tech startups with its Fund II.
The latest investments brings the total assets under management to USD 300 million. Since its inception, Micron Ventures has made investments in 25 startups. The Fund II builds on the success of the initial AI-focused Fund I by targeting broader deep tech innovations. Additionally, 20% of invested capital in the new Fund II will be aimed at startups led by women and other underrepresented groups.
“Investing in startups provides Micron with a deeper perspective on technology innovations and a view of disruptive ideas on the horizon,” says Rene Hartner, vice president of corporate development at Micron, in a press release. “The future will be built on diverse ideas that aim to address the world’s most urgent problems – funding the deep tech startup community will propel innovation forward and help open doors to new business opportunities for Micron.”