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Union Optech Raises Funds

2012-03-19
ZHONGSHAN, CHINA, WestSummit Capital today announced a new investment in the mobile technology ecosystem with funding for leading Chinese optical lens provider Union Optech.
WestSummit Capital today announced a new investment in the mobile technology ecosystem with funding for leading Chinese optical lens provider Union Optech, and the successful IPO of European Near Field Communications (NFC) technology provider INSIDE Secure (EURONEXT PARIS: INSD).

Union Optech and INSIDE Secure join Unity Technologies, a breakthrough software development platform for creating games and interactive 3D with over 800,000 registered developers, and GigaDevice, China's dominant supplier of NOR Flash memory, as core holdings in the firm's mobile ecosystem portfolio. WestSummit Capital is one of the first China-based funds with a global mandate and an exclusive focus on growth stage technology companies. The firm invests in market leaders in the Internet, mobile, cloud and enabling clean technology sectors.

Union Optech and INSIDE Secure join Unity Technologies, a breakthrough software development platform for creating games and interactive 3D with over 800,000 registered developers, and GigaDevice, China's dominant supplier of NOR Flash memory, as core holdings in the firm's mobile ecosystem portfolio. WestSummit Capital is one of the first China-based funds with a global mandate and an exclusive focus on growth stage technology companies. The firm invests in market leaders in the Internet, mobile, cloud and enabling clean technology sectors.

"WestSummit has deep roots in high technology, particularly in the mobile industry, and our team is recognized in both the US and China for their executive leadership and strong operational credentials. This first-hand knowledge influences the firm's strategy in the sector," said Raymond Yang, co-founder and managing director, WestSummit Capital.

Yang's experience in mobile technology began nearly 10 years ago when he led the turnaround of Linktone, which became China's leading wireless value added services provider at the time of its IPO on NASDAQ in 2004. Dr. Datong Chen co-founded Shanghai-based mobile technology platform Spreadtrum Communications, which completed an IPO on NASDAQ in 2007 and remains a core building block that enables the explosion of mobile devices in China and other emerging markets.

Yang added, "We congratulate the INSIDE Secure team on a successful public offering. Our investment in the company, which is based in France and has a significant presence in China and the U.S., is a perfect example of our proven, global China investment strategy for growth stage technology companies. Union Optech, our newest investment, provides an opportunity for WestSummit to help take a Chinese company global as we expect that their leading optical lens modules should find strong demand in overseas markets."

Union Optech Co. Ltd., based in Zhongshan, China, produces optical and electric modules such as lenses and sensors used in digital, in-vehicle, and security cameras, smartphones, and other devices. WestSummit Capital is the lead investor in this round. The infusion of funds will be used to expand manufacturing facilities and support worldwide growth initiatives. Dr. Datong Chen will represent WestSummit on the company's Board of Directors.

WestSummit Capital is one of the first China-based global technology growth equity firms in the industry. The firm invests in companies that have a substantial presence in or strategic interest in China and focuses on the technology, media, telecommunications and enabling clean tech sectors. WestSummit has offices in Beijing, China and Palo Alto, USA. More information can be found on the WestSummit Capital website at: www.westsummitcap.com
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