AltoBeam Technology Co. Ltd., a Beijing-based designer of digital television chipsets, has raised $8 million in VC funding. Backers include Tano Capital, Draper Fisher Jurvetson, DFJ Dragon Fund and PYJ-Dynasty Venture Fund.
Tano Capital, LLC, on behalf of Tano China Private Equity Fund I, is pleased to announce its investment in Beijing-based AltoBeam Technology Co., Ltd. Tano participated in a US$ 8 million round of equity financing with other prominent venture capital investors, including DFJ Dragon Fund, Draper Fisher Jurvetson, PYJ-Dynasty Venture Fund and a Stanford University professor.
Charles “Chuck” Johnson, Managing Director of Tano Capital, said, “AltoBeam is a fabless semiconductor company which designs and develops digital TV receiver chips for mobile handhelds, digital set-top boxes and television. The DTV chipset market is forecasted to exceed US$ 80 million in 2009 and to grow to over US$ 500 million by 2011. We believe the management of AltoBeam has done a great job to position the company to become a major factor in this space.”
Tano Capital is an alternative asset management firm founded by Mr. Johnson (formerly co-President of FranklinTempleton Investments and CEO of Templeton Worldwide), that makes private equity investments into rapidly growing private companies in India and China. Tano Capital currently has offices in Shanghai, Tianjin, Taipei, Mumbai, Mauritius and San Mateo. For more information, please visit our website at www.tanocapital.com.