Successful listing of Aquantia Corp., one of CID Greater China Venture Capital Fund III
Nov 3, 2017
The CID Group (“CID”) is pleased to announce the successful listing of Aquantia Corp. (“Aquantia” or “the Company”), one of CID Greater China Venture Capital Fund III, L.P (“Fund”) portfolio companies, on the New York Stock Exchange (Stock Code: AQ) on November 3rd, 2017.
Headquartered in Silicon Valley, Aquantia is a leader in the design, development and marketing of advanced, high-speed communications ICs for Ethernet connectivity in the data center, enterprise infrastructure and access markets. Aquantia’s products are designed to cost-effectively deliver leading-edge data speeds for use in the latest generation of communications infrastructure to alleviate network bandwidth bottlenecks caused by the growth of global IP traffic.
Since the inception in 2004, Aquantia achieved a spectacular growth in its product development. The Company won “Company of the Year” at the 2014 annual Creativity in Electronics awards, and was ranked by Deloitte Fast 500 as the fastest-growing semiconductor company in North America in 2014, 2015, and 2016. In 2016, Aquantia was named a finalist in UBM Tech’s EE Times and EDN Annual Creativity in Electronics (ACE) Awards for “Company of the Year”.
The CID Group (“CID”) invested US$7 million in Aquantia and since the investment in 2012, CID has been working closely with Aquantia in penetrating the Company’s client base and partnership in Greater China region.
For almost two decades, CID has been focused on venture investments and industry integration opportunities in the Greater China market. CID has invested in 191 companies and achieved 111 exits.
Successfully partial exited Digiwin Software, a portfolio company of CID Fund II
Jan 20, 2017
The CID Group (“CID”) is pleased to announce the successful block trade of its partial exit of Digiwin Software Co.,LTD. (“Digiwin” or “the Company”, Stock Code: 300378.CH), a portfolio company of CID Greater China Fund II (“Fund II”), on January 20th, 2017.
The maximum permitted percentage (4.99%) of shares were traded and generated proceeds of RMB 264.5M (US$38.7M) at approximately 4.8x return multiples and 18% IRR. After the transaction, Fund II’s holding of the Company still has 70% to be realized. The Fund has realized over two-thirds of its 26 portfolio companies and has generated 4.3x cash returns with this exit. Fund II is estimated to achieve 3.6x overall multiples.
CID invested in Digiwin in 2007, assisted its privatization from Taiwan stock exchange and expansion in mainland China. Digiwin was the first Taiwanese company listed on Chinese stock exchange in 2014 after the government re-opened the IPO market. After the company turned the business model toward cross-strait integration, it has become one of the top three market leaders in Enterprise Resource Planning Platform in China and has its systems implemented in more than 50,000 companies across Asia Pacific region.
For almost two decades, CID has been focusing on venture investments and industry integration opportunities in the Greater China market. CID has invested in 189 companies and achieved 99 exits, generating over 30% IRR since the inception.
JMC Electronics, one of CID Fund IV’s portfolio companies, has successfully transferred to the Main Board from the Emerging Board
Jan 10, 2017
The CID Group (“CID”) is delighted to announce that JMC Electronics Co., Ltd. (“JMC” or “the Company”, Stock Code: 6552.TT), one of CID Greater China Fund IV’s (“Fund IV”) portfolio companies, has successfully transferred to the Main Board from the Emerging Board of Taipei Exchange on January 10th, 2017.
Established in 1973, JMC is a leading provider of semiconductor flexible organic substrate for LCD driver (also known as Tape Chip-on-Film) in Taiwan. With its R&D commitment in latest Subtractive and Semi-Additive technologies, JMC has the competitive edge in penetrating into different market sectors, such as high-end wearable devices, in addition to its strength in large-size panel market. JMC also seized the driver IC supply chain partnership in China, such as BOE and Huawei. The Company posted revenue of NTD 1.3 billion for the first three quarters in 2016, marking two-digit growth rate for two consecutive years.
CID Fund IV invested in JMC in 2015, and worked hand-in-hand with the Company in multiple ways to achieve its outstanding growth, including utilizing CID’s resources to support its business development and IPO preparation. JMC was listed on the Emerging Board in Sep. 2015 and transferred to the Main Board within 16 months. Based on the closing price of the first trading day, the market cap of JMC is NTD 3 billion, achieving 1.4x multiple and 17% IRR for CID’s investment.
Fund IV was closed in 2013, invested 14 companies, and has already achieved 5 exits. For almost two decades, CID has been focused on venture investments and industry integration opportunities in the Greater China market. CID has invested in 189 companies and achieved 99 exits, achieving 30% IRR since the inception.