Apple co-founder Steve Wozniak and two other former Apple executives have raised first-round funding for their new firm.

They have launched Acquicor Technology, a company that aims to make strategic acquisitions in the tech sector. They raised $150 million through an IPO on the American Stock Exchange.

The company also features former Apple CEO Gil Amelio and former Apple chief technology officer and 29-year IBM veteran, Ellen Hancock.

The firm described its focus: "Our efforts in identifying prospective target businesses will not be limited to a particular industry, although we intend to focus on the technology, multimedia and networking sectors."