Squire Patton Boggs has advised Taiwanese venture capital fund Taiwania Capital on the Series A investment in Vrgineers, a Czech-based developer of virtual and mixed reality headsets and flight simulators for professional and military pilots. This is the first time that the fund has invested in a start-up business in the Czech Republic.
The cross-border team advising Taiwania Capital was led from Prague by Marek Hrubes, Daniel Sedlak and Simona Zajickova, and from the US by Daniel Zhao (Los Angeles) and David Saltzman (Palo Alto).
Taiwania Capital is a venture capital firm founded in 2017 by the National Development Fund of the Executive Yuan of Taiwan and private enterprises with a focus on investing in early-stage high-tech and biotech companies. It established the US$200 million Central and Eastern Europe Investment Fund last year with the purpose of promoting investments, building business partnerships and leveraging supply chains between Taiwan and Central and Eastern European countries.
Founded in 2017, Vrgineers is recognised as a technological leader with its products used for pilot training in a number of countries based on feedback from clients such as the U.S. Air Force, U.S. Navy, the Royal Air Force, Lockheed Martin, Gulfstream, BAE Systems, NASA, and other technological pioneers.
Marek Hrubes commented: “We are proud to have supported Taiwania on this pilot transaction, an investment that will provide Vrgineers with the backing to continue to develop its innovative virtual and mixed reality technologies while forging connections with Taiwan’s industry and research base.”