Parade Technologies, Ltd. Secures $14.5 Million in Series B Venture Funding
Posted August 8th, 2007
Financing to Accelerate Development of Next-Generation Digital Video Interface Technologies
SUNNYVALE, Calif.–(BUSINESS WIRE)–August 08, 2007-Parade Technologies, Ltd., a leader in digital video interface technology, today announced the closing of its Series B financing totaling $14.5 million. AsiaVest Partners led the Series B round. Intel Capital, a new investor, and Legend Capital, an existing Series A investor, also participated.
Funds will be used to accelerate the company’s growth strategy, especially the marketing and development of DisplayPort and HDMI digital video interface technology and products.
“Having been thoroughly impressed by the progress that Parade has made in developing next-generation digital video interface technologies since its inception one and half years ago, I am very excited to become part of this growth story by investing in Parade,” said Darren Huang, managing director of AsiaVest Partners.
“The digital video market segment is expanding rapidly and the DisplayPort standard is poised to become a widely used interface within this realm,” said Mike Buckley, director of Intel Capital. “We believe that Parade’s contribution to the DisplayPort community is notable and it signifies a unique position to benefit from the segment’s growth.”
“Parade is proud of being a DisplayPort pioneer,” said Jack Zhao, president and CEO of Parade Technologies, Inc. “This new round of financing represents our investors’ confidence in the strategic direction of the company and the execution capability of the leadership team.”
As a part of the investment, Darren Huang, Managing Director of AsiaVest Partners will join in the board of Parade Technologies, Ltd. This latest round brings Parade Technologies’ total funding to $21.5 million.
About Parade Technologies, Ltd. and Parade Technologies, Inc.
Parade Technologies, Ltd is a privately-held fabless semiconductor company that specializes in developing digital video display interface products. The company seeks to leverage a combination of high-speed analog, mixed-signal and digital design expertise, along with system level knowledge, to take product performance, power efficiency and customer satisfaction to new heights. A private company based in Sunnyvale, California, Parade Technologies is backed by investors including AsiaVest Partners, Intel Capital, Legend Capital, and etc.
Parade Technologies, Inc., a wholly owned subsidiary of Parade Technologies, Ltd, is located in Sunnyvale, California, the heart of Silicon Valley, and provides sales and marketing as well as management services to Parade Technologies, Ltd. For more information, please visit: www.paradetech.com.
About AsiaVest Partners
AsiaVest Partners, TCW/YFY Ltd. is a leading venture capital firm investing in private companies in the Greater China Region, namely Taiwan, China, Hong Kong and the United States. Since its founding in 1995, AsiaVest Partners has been nurturing companies with innovative technologies, competitive market positions, and strong management teams to develop high growth businesses. AsiaVest Partners manages over US$980 million with strong presence throughout Asia and the U.S. with investment focus on the semiconductor, information technology, wireless, software, manufacturing and consumer related industries. AsiaVest has invested in more than 130 companies located in Taiwan, China, Hong Kong, Singapore, and the U.S. For more information, please visit AsiaVest’s website at www.asiavest.com.
About Intel Capital
Intel Capital, Intel’s venture capital organization, makes equity investments in innovative technology startups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$6 billion in nearly 1,000 companies in more than 40 countries. In that time, about 180 portfolio companies have been acquired by other companies and another 155 have gone public on various exchanges around the world. In 2006, Intel Capital invested about US$1.07 billion in 163 deals with approximately 60 percent of funds (excluding Clearwire) invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About Legend Capital
Legend Capital is an independent venture capital subsidiary of Legend Holdings Ltd. focused on driving high-growth IT investments in China and China-related companies at the start-up and expansion stages.
Managing up to US$300 million across three funds, Legend Capital invests in companies in Internet applications and services, wireless applications and services, IC design and key components, outsourcing, digital media, as well as selected high-growth non-IT industries.
Legend Capital provides its portfolio companies extensive business resources to assist with business development, company image building, and other critical company building activities in the China market. Please visit Legend Capital’s website at http://www.legendcapital.com.cn/ for more information.
Parade Technologies, Inc.
Jimmy Chiu, 408-329-5540