Quester backs Automatic Parallel Designs

A £1.7m first round for a company with big plans for the chip industry.

Venture capitalist Quester has invested £1.7m (E2.7m) in Automatic Parallel Designs (Auto PD), a silicon intellectual property (IP) firm based in Oxford.

The first-round funding comes from two of the investor’s venture capital trusts, Quester VCT3 and Quester VCT4.

Auto PD aims to speed up digital silicon processes. It hopes to open up a big market by licensing its technology to semiconductor manufacturers, which want to make faster chips with lower power requirements.

“UK venture capitalists rarely have the chance to be involved at such an early stage in a technology company which could so demonstrably change the semiconductor industry,” said Jeremy Milne, a director at Quester.

Quester was founded in 1984 and has more than £300m under management in its institutional funds and VCTs, which focus on hi-tech companies.