US-based semiconductor manuf acturer Applied Materials, Inc. (NASDAQ:AMAT)(AM) has launched a venture capital pro gram, and is looking for investing in some private start-up companies,according to a senior official of the company.

    Zhao Hanqing, a senior manager of Applied Ventures (AV), the capital venture institution under AM, said the company could disco ver new industries via venture capital to expand the technologies to n ew sectors.

    Most of the investees of AV are clients of AM's clients, or suppliers of its customers. Those firms are in need of promising ad vanced technologies to boost or replenish AM's core technologies in cl ean energy, flat panel display, and semiconductor manufacturing. Enter prises related to energy conservation, consumable items and services a re also potential investees of AV.

    As a limited partner, AV has already invested 10 million US dollars in two of China's fund management institutes, DFJ DragonFun d China and China Environment Fund, to develop its venture capital bus iness in China.

    Zhao believes that China's energy conservation industry h as a bright prospect in future. Christopher Moran, vice president of AM and general manager of AV, sai d China is an ideal investment destination as it attached great import ance to the development of renewable energies and high-value technolog ies, and they can find promising start-up companies in the country.