Connect Startups with Taiwan’s Strengths: The Ceiling Suggested by iCHEF’s One-Billion Acquisition
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Collected in Robin Shen’s Field Notes · Content type and attribution are shown above
English translation of the Chinese post originally published 2026-04-15. Translated 2026-11-05 with AI assistance. Historical figures and claims have not been updated or independently verified. 中文原文
Reading guide
Robin agrees with Jian (簡老師)’s view that a venture developing in Taiwan should connect with Taiwan’s core strengths and stand on giants’ shoulders. He relays a senior VC colleague’s question: if an AI inquiry reports iCHEF revenue above 400 million, a return to profitability, and a one-billion acquisition by 91APP, does that anchor the ceiling for Taiwanese software startups at around one billion? For investors with limited capital, the question is where the highest potential return multiples can be created.
Key points
- A venture developing in Taiwan should connect with its core strengths.
- If a small-market ceiling is one billion, what return should an investor target?
- Investors allocate limited capital where high return multiples appear most likely.
Full text — English translation
These articles are personal notes, book excerpts, and collected reprints. Figures and events reflect the time of the original publication, are not current information, and do not constitute investment advice.
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