First and second template epitaxial semiconductor material portions including different semiconductor materials are formed within a dielectric template material layer on a single crystalline substrate. Heteroepitaxy is performed to form first and second epitaxial semiconductor portions on the first and second template epitaxial semiconductor material portions, respectively. At least one dielectric bonding material layer is deposited, and a handle substrate is bonded to the at least one dielectric bonding material layer. The single crystalline substrate, the dielectric template material layer, and the first and second template epitaxial semiconductor material portions are subsequently removed. Elemental semiconductor devices and compound semiconductor devices can be formed on the first and second semiconductor portions, which are embedded within the at least one dielectric bonding material layer on the handle substrate.