Micron Technology announced Micron Ventures, its venture capital business, will be investing $200 million in deep tech startups.
Micron’s Fund II will spend 20 percent of capital in startups led by women and other underrepresented groups.
The focus of Micron’s Fund I was AI.
Micron Ventures has made investments in 25 startups, yielding strong financial returns and multiple unicorn companies within the portfolio.
Micron Ventures has also invested in companies innovating to bring new green technologies to market that have the potential to further accelerate Micron’s progress against its sustainability initiatives.
“Investing in startups provides Micron with a deeper perspective on technology innovations and a view of disruptive ideas on the horizon,” said Rene Hartner, vice president of corporate development at Micron.
In addition to expected future financial returns, Micron has already gained multiple benefits such as accelerating the adoption of AI technologies to reduce manufacturing costs, advancing our global go-to-market capabilities with Cloud Service Providers and strengthening relationships within the global automotive value chain.