- IDGVV Press Releases
IDG Ventures Vietnam leads investment in GES Inc. – A global semiconductor, FPD, and solar cell equipment service company
San Jose, California; HCM City, Vietnam; and Tokyo, Japan; April 29, 2008
Global Equipment Services Inc. (GES), a fast growing semiconductor services company, today announced it has received the first of a dual-round of financing led by IDG Ventures Viet Nam (IDGVV). IDGVV was joined by Japan’s IT-Farm Growth Investment Limited Partnership, and other private investors in providing growth capital for GES. The financing is targeted for expansion of its global customer base and operational assets, including clean-room equipped facilities in Vietnam. “GES provides a very attractive addition to our technology investment portfolio, and it also marks the first IDGVV investment in the semiconductor sector. We want to help grow Viet Nam’s emerging role in the global semiconductor value-chain and supporting GES’ global expansion is the first step. IDGVV is firmly committed to helping ensure the success of such emerging companies based in Viet Nam with opportunities to serve the global market,” said Henry Nguyen, IDGVV’s Managing General Partner.
GES will leverage the investment along with the deep resources of its Viet Nam business operations to bring more value added services to its global customers. “Semiconductor, FPD and emerging solar cell manufacturing are industries with growing demand for innovative services to improve efficiency and increase margins. GES brings a unique engineering service model and manufacturing solutions to the current business challenges in these market segments. We are pleased to support the company’s ambitious goals for addressing demand from its many leading technology customers” said Morio Kurosaki, President & CEO of IT Farm Corp.
Separately, GES also successfully raised funds from several real estate investors for the construction of its 100,000 Sq. Ft. technology and manufacturing center located next to the world’s largest IC assembly and test plant in the Saigon Hi-Tech Park (SHTP). The funding enables the further development of the GES VN Manufacturing, Training and Service Operations Center in SHTP outside of HCM City, Viet Nam. Numerous other world leading hi-tech companies are already operating or building in the SHTP – notably, Intel’s largest semiconductor IC test and assembly plant.
“The funds come at a high point for GES as we prepare to provide turn-key manufacturing service to our partners. With the infusion of capital, and invaluable advice from these investment firms, we plan to significantly expand the breadth and depth of our service offerings. Both IDGVV and IT-Farm bring strong regional knowledge, and global technology industry experience to help GES achieve its growth ambitions. With the support from world-class customers and technology partners, we expect substantial growth of our service portfolio to address the rising demand for our services.” said Don Tran, CEO of GES Inc.
About IDGVV
Established in 2004, IDG Ventures Vietnam (IDGVV) is the first technology venture capital fund in Vietnam. With $100M under management, IDGVV invests in early to middle stage companies principally in the technology, media, and telecommunications sectors. The fund works closely with its entrepreneurs and senior managers to support the growth and development of market leading companies. The Fund, with International Data Group (IDG) as the anchor limited partner investor, is part of a family of global IDG Ventures funds with over $2.5 billion under management. As one of the few truly global venture firms, IDG Ventures has made over 300 investments spanning North America, Europe and Asia over the last 15 years.
Contact:
Duong Thu Huong
Operations & PR Director, IDG Ventures Vietnam
SunWah Tower, Suite 1108
115 Nguyen Hue St., District 1, Ho Chi Minh City, Vietnam
Tel: +84 8 827 8888
Fax: +84 8 827 8899
Website: www.idgvv.com.vn/en
About IT- FARM
IT-Farm Corporation is a Japanese Venture Capital founded in 1999. IT-Farm is dedicated to create and grow young companies with rapidly growing and long standing value in the global IT industry. In order to achieve this goal, IT-Farm invests in the privately held companies from start-up to early growth stage. IT-Farm provides high-value-added support to its portfolio companies by bringing in its business and management expertise coupled with its broad range of network in Japan and Silicon Valley.
Contact:
Morio Kurosaki, President & CEO
IT-Farm Corporation
P.O. Box 1537
Shinjuku-iLand-Tower 5F
6-5-1 Nishi-Shinjuku
Shinjuku, Tokyo 163-1305, Japan
Tel: +81-3-5324-3531
Fax: +81-3-5324-3546
Website: www.it-farm.com
About GES Inc.
Founded in June 2006, GES has rapidly grown due to its unique, and innovative outsourcing service model that helps maximizing profitability and improving customer satisfaction for companies in the semiconductor, FPD, solar equipment, and manufacturing industries. GES aims to provide its clients the highest quality and lowest cost service solution thru its turn key engineering, design, and manufacturing capabilities. In addition to its headquarters in San Jose, CA, GES has established operations in Japan, Taiwan, and Viet Nam.
Contact:
Marty Mason
Executive VP
Global Equipment Services
2372 E Qume Dr
San Jose, CA 95131
Tel: +1 408 441 6082
Website: www.geservs.com