MaxIC expanding capital investment

LONDON: MaxIC Technology Corporation, the analog, mixed-signal fabless chip company, based in Beijing, China, is expanding capital investment, led by WI Harper Group.

MaxIC Technology Corporation, set up in March 2008, is shipping 4 ICs used to drive and control LEDs in general lighting, LCD TV backlighting, as well as in consumer electronics.

MaxIC has not divulged the value of the investment, but the company said in a statement that it will use the additional money to raise production and expand R&D.

Jeff Cheng, president and CEO of MaxIC Technology Corporation, said in the statement that LEDs are fast replacing legacy technology since the LEDs are highly energy-efficient, avoid using environmental toxins, and considerably improve the performance of lighting and communications as well as consumer electronics.

According to Peter Liu, chairman of WI Harper Group, MaxIC Technology Corporation is a capital-efficient fabless IC technology company led by a team with “industry credentials from an enviable group of global IC leaders.” The strategic presence of MaxIC Technology in China, Peter Liu said in a statement, will offer customers worldwide cost-effective operations.

WI Harper Group, established in 1993, is a venture capital which invests in early-stage and expansion-stage companies with significant operations in China. It manages over $500 million in capital from its offices in Beijing, and San Francisco and Taipei.