Intel-backed Gudeng Precision IPOs in Taiwan
Intel Capital ushered its third company of the year onto the public market - Taiwan’s Gudeng Precision Industrial, which listed on Taiwan's GreTai Securities Market on Wednesday, raising an undisclosed amount.
Intel Capital, the venture capital arm of chipmaker Intel, invested in Gudeng Precision in 2009. The company was founded in 1998 and originally specialized in manufacturing and designing injection plastic molding and high-precision parts, but shifted its focus to semiconductors in 2000.
Intel made its investment as part of a $25 million commitment to seven companies located in Asia, North America and the Middle East. The specific breakdown of the investments was not disclosed.
Intel's earlier portfolio company listings this year was BCD Semiconductor, which launched on the NASDAQ on January 31, and Phoenix New Media, with launched on the New York Stock Exchange on May 13.
"Having Intel Capital as an investor helped us win new business and enhance our partnership with customers," Bill Chiu, chairman and CEO of Gudeng Precision, said in a statement. "The investment also gave us access to the resources we needed to strengthen our wafer-handling technologies."
Intel Capital made 76 investments totaling $273 million in H1 2011, and has invested more than $10B in over 1,140 companies since 1991.
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