West-Summit Capital ("WSC"), a leading China-based, global growth capital investor, on Monday announced that it has raised US$325 million in capital commitments from several large institutional investors in Europe, North America and Asia.
The funds comprise of $225 million for West-Summit's Fund II, focused primarily on investments in North America and China, and $100 million for Summit Bridge Capital focused mainly on investments in Europe and China and managed in collaboration with European growth capital firm Atlantic Bridge. WSC's Fund II exceeds the size of the firm's Fund I by more than three times.
"Technology innovation knows no borders, and we are excited to serve as a value-added partner to connect the China market with leading technologies from around the globe," said Raymond Yang, Managing Partner of West-Summit Capital.
Founded in partnership with the most prestigious financial institution in China, West-Summit Capital operates as one of the only technology growth equity firms investing between China, North America and Europe.
Based on the firm's deep operating experience in China and Silicon Valley, West-Summit has built a reputation as a proven, value-added and hands-on strategic partner for China Value Creation ("CVC"). To further enhance West-Summit's CVC activities, the firm has hired a dedicated team of former operating executives with deep industry expertise in the firm's focus areas.
"West-Summit has the operational know-how and local connections to demystify the massive and complex China market, develop a strategy for market entry into China, and support a successful launch with tangible results," said David Helgason, CEO of Unity Technologies. "Unity's second largest user community is in China, and West-Summit was instrumental in growing our in-country team from nil to over 30 professionals while achieving rapid revenue growth and profitability since day one."
"West-Summit brought the global perspective, connections and capital to take Giga-Device to the next level," said Zhu Yiming, CEO of Giga-Device. "They worked with us to identify mobile as a major new vertical and define the strategy, and helped to introduce to us the top mobile platform partners that have significant influence in this industry. Since launching in mobile with West-Summit, we have achieved 500 percent growth in our total company revenues. West-Summit has been a game-changer for us."
More information about the Summit Bridge Capital can be found here:
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