A US$30 million Taiwanese fund targeting investment in mainland industries will be launched by next month, according to Chang Pen-tsao, chairman of Taiwan International Securities Group. Mr Chang said the Magelin fund, believed to be the largest launched by a Taipei company, was backed by Taiwan investors and several enterprises in Washington. 'We will have $8 million in hand first. Then the investors will have to inject their shares within one week of our announcement,' Mr Chang said. The fund, to be managed by Taiwan International Securities Group, hopes to list either in the US or in Canada.