Tsing Capital in $22m round for US-based QD Vision
China's Tsing Capital has co-led a $22 million round, with BASF Venture Capital, for QD Vision, a US-based display technology developer with sizeable exposure to Chinese manufacturers.
The capital, raised from a combination of existing and new investors, will be used to support the company's growth and to develop new inventions, according to a release. QD Vision will also partner with BASF Group to develop new color display technologies for LCD monitors.
QD Vision is a leading developer of display technologies for quantum-dot LED (QLED) screens, which offer improved color reproduction over current-generation LED and LCD displays, while consuming significantly less energy. The company's technologies are widely used by Chinese television manufacturers.
Tsing Capital made its investment out of its fourth China Environment Fund, a $250 million vehicle that launched in 2010. BASF is one of the LPs in the fund, having committed $5 million in 2012. The firm called QD Vision a "natural fit" for the fund, citing its global leadership profile and involvement in the Asian market.
Since its founding in 2001, Tsing has mostly invested in Chinese companies. However, the firm has made several notable commitments in North America in recent years. It joined a $44.5 million Series D round for US-based cooling systems developer Phononic last December, and participated in a $20 million Series C round for Canadian semiconductor manufacturer GaN Systems this May.
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