Agilent Technologies (NYSE: A) announced that Agilent Ventures has invested in Acer Technology Ventures Asia Pacific Ltd.'s (AcerVC's) IPF III, which is focused on making venture capital investments in China.

AcerVC's IPF III will be investing in technology-based private companies in China that are focused on developing products and services for both China and global markets. The fund's investment team has an extensive operational background in global technology companies and has successfully invested in a number of Asia-based startups.

"Agilent Ventures' investment in AcerVC's latest China-focused fund demonstrates Agilent's ongoing commitment to China," said Maximilian Schroeck, managing director of Agilent Ventures. "China has rapidly become one of the largest markets for Agilent's products, and we are continuously strengthening our R&D efforts there. By investing in AcerVC's IPF III, Agilent will be able to build strategic relationships with leading China-based startup companies developing innovative technologies and products."

"We are very excited to have Agilent Technologies as an investor in our new China-focused fund," said William Lu, chairman and general partner for Acer Technology Ventures Asia Pacific. "We invest in China-based startups that stand to benefit from market or technology affiliation with the rest of Asia, Europe and North America. Agilent develops and markets innovative technology products globally and will be able to help our portfolio companies tremendously, both technically and strategically."