Shanghai, China ¨C August 15, 2005 ¨C VeriSilicon Holdings Co., Ltd., a full service fabless ASIC design foundry, today announced that it raised US$13.5 million in its series B financing, bringing the total amount of venture funding received to US$20 million since the company's inception in 2001. New investors included KTB/UCI, Intel Capital, HSBC Private Equity (Asia) Limited, CID Ventures Management and Consulting (BeiJing), Ltd., Legend Capital, International Finance Corporation (IFC). Existing investors comprised WI Harper Group, IDG Technology Venture Investment, iGlobe Partners, and Harbinger Ventures. The company will use the funding to expand its R&D and its existing engineering and ASIC turnkey operations internationally. The Company currently has operation centers in Silicon Valley, U.S., Shanghai, China; Chinese Taipei and Tokyo, Japan.
' VeriSilicon's mission is to increase efficiency and lower the cost of system-on-a-chip (SoC) ASIC design and manufacturing for worldwide customers through a flexible business model and innovative technologies. I am delighted that we have a group of international investors in the funding. The new round of funding will allow us to accelerate the development of our foundation technologies for 0.13 um and below and to expand our IP portfolio and SoC turn key service offerings worldwide,' said Dr. Wayne Dai, President and CEO of VeriSilicon.
' VeriSilicon is the first and only ARM certified design center (ATAP) in mainland China and the first and only LSI certified ZSP design center in mainland China. Recently, Red Herring rated VeriSilicon as one of the Top 10 Private Chip Companies to watch,' concluded Dr. Dai.
'Full service fabless design is an important part of the semiconductor ecosystem and an area of both technology and business model innovation,' said Duane Kuang, Director of the Intel Capital China Technology Fund. 'Our investment in VeriSilicon is another example of Intel Capital¡¯s commitment to support the growth of the domestic semiconductor industry in China.'
' VeriSilicon has achieved significant success over the past two years in establishing its market presence and technology expertise in China and has built a strong platform to enable sustainable long term growth in its business,' said Raymond Y H Leung, Director of HSBC private equity. ' We are delighted to have an opportunity to invest and work with one of the leading IC design companies based in China.'
'By working together with several major Asia System manufacturers, we understand there is a very promising market potential for Fabless semiconductor companies in China now and in the near future,' said Lisa Lo, Managing Director of CID Ventures Management and Consulting (BeiJing), Ltd. ' We are glad to have this chance to work with VeriSilicon to facilitate this opportunity through the well-established infrastructure VeriSilicon has been built in the past several years.'
' We invested in VeriSilicon because we see the huge opportunity and rapid growth in the Chinese integrated circuit market.' said Xiangyu Ouyang, Managing Director of Legend Capital. ' We feel confident in the fast growth of VeriSilicon in the Chinese Semiconductor industry.'
More information about VeriSilicon, please visit www.verisilicon.com  |
