Qualcomm Launches $150M Venture Fund In China

San Diego-based Qualcomm said late Wednesday that it has launched a new, $150M strategic venture fund in China, which will invest in Chinese companies working on mobile technology. Qualcomm said the new fund--being managed by Qualcomm Ventures, its venture capital arm--will invest in companies in the area of the Internet, e-commerce, semiconductors,and education and health. Qualcomm says it has been investing in China for more than 10 years.