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Investment Update : West Fountain Parallel Fund invested in Series B of ASR Microelectronics

2018.06.14

Image from ASR

In June 2018, West Fountain, an offshore parallel fund of West Fountain Parallel Fund and Shenzhen Capital Group, completed the Series A investment in ASR Microelectronics, led by IDG. Previously, ASR raised over $100M from West Fountain, Shenzhen Capital Group, and Alibaba in Series A and over $300M in total.

Founded in 2015, ASR is a baseband chip IC design company dedicated to mobile communication terminals, IoT, and other consumer electronics chips. Currently, its products are mainly in two categories: communication data and smartphones.

Since its establishment, ASR has successively acquired South Korea's Alphean and Jiangsu Smart IC. With the investment and follow-up services of West Fountain Parallel Fund, ASR completed the acquisition of the communications chip division of the US-listed company Marvell Technologies Inc. in 2017 and expanded its world-class communications chip design team. Currently, ASR's mobile phone baseband chips have begun production. After Alibaba's strategic shareholding, ASR obtained the exclusive authorization of Alibaba's LoRa technology and became the largest provider of Internet of Things (LoRa) chips in the future. It has already begun shipping IoT chips.

According to the internal staff of ASR: ASR was initially a combination of three companies. A stands for Alphean, a South Korean protocol stack company; S stands for Smart IC, and Wuping acquired Augusta (Yifa Technology); R represents the former CEO of RDA, that is, Dai Baojia is currently in this company.

Through a series of mergers and acquisitions, ASRmhas accumulated strong R&D strength, established a firm foothold in technology R&D, and has a world-class baseband chip R&D team. ASR has become the only domestic baseband company except for HiSilicon that has its own full Netcom technology. It will be the leading domestic manufacturer of mid-to-high-end mobile phone baseband chips after Huawei and will become a breakthrough domestically. It will be a crucial semiconductor unicorn against an industry monopolized by Qualcomm and MediaTek.