The NDF earmarked NT $100 billion to set up the Industrial Innovation and Transformation Fund aimed to combine private capital for co-investment in companies’ innovation and transformation projects.

Main features of the Program:
- Fund size : NT $100 billion allocated
- Shall invest in merger and acquisition, spin-off, and business transformation plans
- Expect to co-invest with PE Funds
- Invest mainly in mature companies, including listed companies
In order to promote domestic industrial innovation and transformation, and to create job opportunities, the NDF, along with private sector investors, will invest in merger and acquisition, spin-off, and business transformation plans.
Main Objectives of the Program:
- Drive Taiwan's Industrial Transformation
- Stimulate private sector investments
- Create job opportunities
- Reinvigorate Taiwan's economy

The Industrial Innovation and Transformation Fund supports and assists domestic enterprises with “equity capital”instead of “grants” or “loans”.

Investment Policy:
- NDF does not act as a lead investor
- NDF shall not be the largest investor in the investment round
- NDF can make investment up to 20% of total equity at completion of the investment
- The maximum potential investment amount of each enterprise that could be raised from NDF is NT $10 billion
The Industrial Innovation and Transformation Fund is available to domestic companies engaging in business transformation activities.
- The Industrial Innovation and Transformation Fund is not a industry-specific program.
- Who can apply?
- A Taiwan-incorporated company engaging in business transformation activities
- An Institution or a PE fund with the ability to help the company transform

The NDF allocated NT $100 billion to this program. By the end of September 2018, the NDF’s investment in this program is NT $3.78 billion
- Currently, the Industrial Innovation and Transformation Fund has invested in the field of traditional industries, regenerative medicine, solar energy.
- The NDF's investment amount in this program:
- 2017: NT $1.58 billion
- 2018: NT $2.2 billion (By the end of September 2018)
