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The Introduction of the National Development Fund 行政院國家發展基金管理會簡介

The Introduction of the National Development Fund 行政院國家發展基金管理會簡介. The National Development Fund, Executive Yuan, R.O.C. December 31, 2010 行政院國家發展基金管理會 中華民國 99 年 12 月 31 日. Contents 目 錄. I 、 Introduction 前言 II 、 Direct Investment 投資業務 III 、 Venture Capital Investment 創投業務

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The Introduction of the National Development Fund 行政院國家發展基金管理會簡介

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  1. The Introduction of theNational Development Fund行政院國家發展基金管理會簡介 The National Development Fund, Executive Yuan, R.O.C. December 31, 2010 行政院國家發展基金管理會 中華民國99年12月31日

  2. Contents目 錄 I 、Introduction 前言 II 、Direct Investment 投資業務 III 、Venture Capital Investment 創投業務 IV 、Loan Financing 融資業務 2

  3. I、Introduction前 言

  4. (I)Mission of the NDF 國發基金任務 • Date Established(設立時間)1973 (民國62年) • Governing Regulations(法源依據) • 1973 – 1990: “The Statute for Encouragement of Investments” §76民國62-79年：「獎勵投資條例」第76條 • 1991-2010: “The Statute for Upgrading Industries” §21民國80-99年：「促進產業升級條例」第21條 • Since 2010: “Industrial Innovation Act ” §29 民國99年迄今：「產業創新條例」第29條 • Purpose of Establishment(設立目的)To accelerate industrial innovation and to promote economic transition and national development.加速產業創新加值，促進經濟轉型及國家發展

  5. (I) Mission of the NDF 國發基金任務

  6. (I) Mission of the NDF (continued) 國發基金任務(續）

  7. Chairman Management Committee 管理會 (II)Organization Chart組織架構 主任委員 創業投資審議委員會 投資評估審議委員會 Executive Secretary Investment Review Committee Venture Capital Investment Review Committee 執行秘書 開發基金 副執行秘書 Deputy Executive Secretary 中美基金 副執行秘書 Deputy Executive Secretary Accounting Auditing GeneralAffairs Business 業務組 總務組 會計組 稽核組

  8. (III)Major Activities國發基金主要業務 創投業務 融資業務 Operations 業務內容 投資業務 投資管理

  9. (IV) Investment Strategy of the NDF 國發展基金之投資策略 (by Amount Applied for investment 依投資規模金額分類) 國發基金多層級投資方式 Multi-level Investment Strategy of NDF： 國發基金結合大型 法人或業者直接投資 或投資創投公司 Co-invest with well-know foreign/local firms and VCIEs invested by NDF 擬申請投資金額 Total Amount Applied for Investment 1億元 NTD$100M 轉介創投或文建會投資 國內創投：42家 國外創投：15家 5千萬元 NTD$50M 委託經濟部中 小企業處執行 100億元投資 Investment through VCIEs or CCA(Council for Cultural Affairs) introduced by NDF Local VCIEs:42 Foreign VCIEs:15 Entrusting the Small and Medium Enterprise Administration of the MOEA to investment of NTD$10billion 總計畫金額(億元) Total Amount of the Investment Program (NTD$500M) 2億元NTD$200M 5億元 NTD$500M

  10. (V) Activities Supporting Government Policy國發基金配合推動之相關政府政策 1986 1990 1991 1995 1997 2002 2007 2009 2010 促進東部地區產業發展計畫 Promotion Plan for Eastern Area Development 超大型積體電路工廠計畫 Very Large Scale Integration (VLSI) Manufacturing Factory Development Plan 航太工業發展方案 Aerospace Industry Development Plan 國家建設六年計畫 Six-year National Development Plan 加強生物技術產業推動方案 Promotion Plan for the Biotechnology Industry 挑戰二○○八國家重點計畫 Challenge ２００８: National Development Plan 加強投資中小企業實施方案 Investment Enhancement Plan on Small & Medium Enterprise 台灣生技起飛鑽石行動方案 Diamond Promotion Plan for the Biotechnology Industry 文化創意產業發展方案 Cultural & Creative Industry Development Plan

  11. 19.75倍 19.75X (VI)Investment Performance of the NDF 國發基金投資績效 資料日期：99.12.31 Data Date: 2010.12.31 Accumulated paid back to National Treasury: USD$ 7 billion (48.8%) Net Asset of the NDF: USD$ 7.3 billion (51.2%) 基金規模變化及對國庫貢獻 Original Government Funding: USD $725 million 繳庫數 48.8％ 2056.43億元 基金淨值51.2％ 2,156.67億元 原始撥款 NTD$213.31億元 合計 NT$4,213.10億元 Total: USD$ 14.3 billion 37年 1973年（民國62年） 2010年（民國99年）

  12. (VII)Asset Allocation基金資產分配情形 Total Assets: USD$7.34 Billion 總資產：$2,157.99億元 資料日期：99年12月31日 Data date: December 31, 2010 Direct Investments 直接投資(40家) USD $5.64 billion ($1,659.09億元) (76.88%) Venture Capital Investments 創投投資(57家) USD $309.87 million ($91.14億元) (4.22%) Government Policy Loan 協助主管機關 辦理投資(加強投資中小企業) USD $61.57 million ($18.11億元) (0.84%) Current Assets 流動資產 USD$ 748.34 million ($220.10億元) (10.20 %) Loan Financing 融資計畫(13項) USD $564 million ($166.06億元) (7.70 %) Other 其他 USD $11.87 million ($3.49億元) (0.16%)

  13. II、Direct Investment投資業務

  14. (I) Investment Strategy 投資策略原則 1. Do not act as lead investor 原則上不擔任主導性投資人 2. Invest in fund raising projects with raising amount above NTD$ 500 million 當次募資總金額超過新台幣5億元 3. Participate in projects that government shares in aggregate is not over 49% 公股比例合計不超過49％

  15. (II)Investment Focus 投資重點 As of December 31, 2010, industry breakdown for equity investment is as follow: 截至99.12.31，投資標的計40家，產業分類如下： 資料日期：99.12.31 Data Date：December 31, 2010 鋼鐵 機械 生技 金融 航太 觀光 半導體 運輸 通訊 創投 光電 數位與文化創意

  16. (III)Application for Direct Investment Flow Chart國家發展基金目前參與投資之投資流程 一般民間申請投資專案 Applicator Business Plan 一般性投資案件審查流程 結案 Reject 結案 Reject 否N 否 N 申請 File 投資評估審議會 審查通過? Investment Review Committee Review 管理會 審核通過? Management Committee Review 是 Y 是 Y 面談或聽取簡報 Interview /Presentation 本基金參加投資 NDF make the investment 本基金分析評估 Analysis/Evaluation 請外部專家 提供評估意見 External Experts Opinions 由學者、專家 及相關機關人員組成 Composed of Scholars 、Experts and officers 行政院 專案核准案件 Project Approved by Prime Minister

  17. III、Venture Capital Investment創投業務

  18. Application Process is approximately 3 months (I)Application for VCs Investment Flow Chart國家發展基金創投申請投資流程圖 申請流程約三個月 Processing by NDF 投資說明會 創投申請案 國發基金創投審議會 Alien Applicant (VCs) also see ** Reject N VC Investment Committee Review Data**Gathering Due Diligence Y Y Applicator Business Plan (PPM) or 20% LOI* Preliminary review Y NDF Board Re-view Preliminary discussion with NDF Interview W / Applicant Sign up Memorandum Evaluation Analysis N 撥款 N Y N Supplement move information Outside opinion Introduce to other investors Clarification Reject*** N Processing by MegaBank (NDF’s Trustee) * Proof of a source for 20% of total fund size which is already sought ** Alien applicant (VCs) also need to negotiate the “strategic alliance agreement” with MegaBank and NDF ***May appeal but only for one time

  19. (II)Accumulated Investment in VCs國發基金累計歷年投資創投業之資金及家數變化 - Number of VC & Total Amount Invested Data Date: Dec. 31, 2010 資料日期：99.12.31 9.11 (57) 7.63 (44) 單位：新台幣十億元 Unit: NTD$ Billion 5.74 (38) 3.82 (31) 1.24 (12) 0.38 (4) 年 Note 1: VC investment Series 1 started from Sep. 17, 1985; Series 2 started from Feb. 26, 1991; Series 3 started from Jan. 8, 1998. Note 2: Number of investment showed in ().

  20. IV、Loan Financing融資業務

  21. (I) Loan Financing Flow Chart融資業務作業流程 Government agency submits an application to NDF. NDF performs evaluation process. Discussed at management committee Rejected Close the case 不通過 主管機關 提出申請 ex：工業局 管理會 討論 本基金 評估 結案 通過 Approved ex：確認是否違反WTO 招標遴選經理銀行 Select intermediate bank through public bidding Principal for loan financing 融資原則 a) Making loan through intermediate bank in accordance with government policy 透過金融機構通路及融資專業達成政策服務。 b) No risk by providing indirect financing. 間接融資且不承擔風險。 透過銀行貸放 Making loan through the intermediate bank

  22. (II) Achievements 融資成效 As of December 31,2010, USD $24.64 billion had been approved for 52,955 applications in 4 categories. (迄民國99年12月31日止，核貸件數52,955件，累計核貸金額達新台幣7,247億元，計分四類。) 資料日期：99.12.31 Currency unit: NTD$100million; 貨幣單位:新台幣億元 Data Date：December 31, 2010

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