WestSummit Capital adds two partners

Founded in 2010, the private equity company has been quietly building its portfolio over the past two years, with a core focus on technology companies that have a substantial presence or strategic interest in China.

Its investments in China include GigaDevice, a provider of NOR flash memory, as well as VeriSilicon, a provider of custom silicon solutions and SoC turnkey services.

"We believe 2012 is a breakout year for growth-stage companies interested in moving into the Chinese market," said Raymond Yang, a co-founding partner and managing director of WestSummit Capital, in a company statement. "We view ourselves as a value-add, strategic partner with regards to China. That's where we add tremendous insight."

Yang added that many executives are still wary of doing business in China because they do not know where to start or how to navigate the Chinese business culture.He believes Chinese-based companies feel the same way about expanding into the West.

While WestSummit has hands-on operational and investment experience in both the US and in China, Yang views transparency as the key to success in the global marketplace.

"David's addition and Elise's promotion reflect our ongoing commitment to extending our team's capabilities, reach and experience," he said.

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