AppWorks Closes Fund IV to Lift Total Funds Raised to US$386M

AppWorks announced the final close of its fourth flagship venture capital fund, AppWorks Fund IV, at US$165 million, bringing its total funds raised to US$386 million.

Fund IV marks the first time three major sovereign LPs, featuring Taiwan’s National Development Fund, Malaysia’s Jelawang Capital, the national fund-of-funds under Khazanah Nasional, and Korea Venture Investment Corporation (KVIC), joined forces in a single vehicle. Other LPs include leading corporates and institutional investors such as Fubon Life, Taiwan Mobile, Wistron, Phison, and E Ink. This Pan-Asian footprint aligns with AppWorks’ mission to connect founders with high quality capital and corporates into a regional startup ecosystem driving both frontier-tech adoption and top-quartile venture returns.