WI Harper funds worldwide LED technology ecosystem

BEIJING, CHINA: WI Harper Group, a leading Chinese early and expansion stage venture capital firm, today announced major progress in a strategic, multi-year, investment program in the highest growth sectors of the dynamic LED market.

Further, in recognition of its leadership role in China’s clean technology industry, WI Harper has won the prestigious Environmental Investment Award from the Department of Environmental Science & Engineering at Tsinghua University.

“WI Harper believes wholeheartedly in the market potential for LED-based lighting and we are pleased to be recognized as a leader in China’s clean technology sector,” said WI Harper Chairman, Peter Liu. “The market forces behind the LED industry are undeniable – lower cost, longer life, brighter lights, higher efficiency and avoidance of environmental toxins. The time has come for LEDs in general illumination and we are delighted to take part in this exciting market.”

Leading LED ecosystem investor
WI Harper’s investments in the multi-billion dollar LED ecosystem touch most every segment of the market—from “upstream” semiconductor manufacturers to “downstream” distributors.

SemiLEDs Corp., a global leader in manufacturing ultra-high bright LED chips. With the support of WI Harper as the sole outside venture capital investor, SemiLEDs broke ground in Feb. 2010 on a new production facility in Foshan, China, valued at nearly $100 million for its first phase.

Testar, a key player in the emerging market for LED test services. In Feb 2010, WI Harper delivered the spin-out equity financing for Testar Electronics Corp. to stand on its own from Choma ATE Inc. (TSE: 2360). Testar is on the verge of landing its second major customer.

MaxIC Technology Corp., a fabless LED driver IC manufacturer. MaxIC, which now has five products in the market, is using WI Harper’s investment to ramp up its production to fulfill customer orders and to expand its R&D program. In Mar. 2010 WI Harper became the lead investor in the firm’s first institutional round.

Neopac Lighting Group, a leading provider of LED emitters, engines and fixtures. WI Harper led the company’s first institutional round three years ago, enabling Neopac’s rapid expansion and record revenues in 2009. Neopac won the Lighting Elite Award at the Taiwan International Lighting Show, held in March 2010.

“The tightening energy efficiency standards in China and the US are laying the foundation for LEDs to rapidly enter the mainstream lighting industry in two of the world’s largest economies,” added David Lam, Managing Director and head of US operations at WI Harper Group.

“WI Harper’s 15-year presence in China, Taiwan and the US uniquely positions us to help emerging LED leaders commercialize and globalize their products with the proper combination of industry partners, government relations and on-the-ground investment experience.”