Intel leads Legend Silicon $40M funding round

Intel Capital has led a $40 million investment round for a company aiming to provide better television reception for the whole of China.

Intel Capital, the venture investment arm of semiconductor manufacturer Intel Corporation, is leading a $40 million (€53 million) investment round in Legend Silicon, a Chinese digital circuit manufacturer.
Intel Capital China Technology Fund (ICCTF) is leading a fourth round of investment in the circuit manufacturer, which specialises in digital broadcasting and broadband transmission.

Legend Silicon will use the investment to develop digital TV demodulation circuits that will satisfy the new broadcasting requirements in China. Its technology aims to provide digital reception for a range of portable devices, including portable media players, smart phones and laptops.

Lin Yang, chairman of the Legend board, said: “With this home grown technology, people all over China will be able to experience high definition terrestrial television at minimal cost.”

Arvind Sodhani, president of Intel Capital, said: “We foresee vast potential in this market segment and aim to invest in companies providing crucial technologies that will fuel future growth for China and the world. We believe this investment will help foster further innovation for China’s digital entertainment industry.”

Intel began investing in developing markets through a dedicated fund in June 2005 with the launch of the $200 million (€150m) ICCTF. Since then it has also created a $250 million fund (€187 m) for investing in India, a $50 million fund (€37m) for investment in the Middle East and Turkey, and another fund for Brazil. It has also been active in Russia.