PRNewswire: Silicon Motion Lands… $15 Million Mezzanine Round Venture Funding

“Silicon Motion, Inc. today announced that it has closed a
mezzanine round of private financing with GE Equity leading the
round. Additional capital from Acer Capital Corporation, Audix
Corporation and GW Capital, Inc. in this round increased the total
investment to $14.8 million. Silicon Motion specializes in a host
of the highest performance silicon solutions combined with the
lowest power requirements in the industry for mobile computing
products, wireless devices, and next generation Internet
appliances. “

“The latest venture funding increases total private investment
for Silicon Motion to $32 million. The funds will be used to
support product and business development, increase promotional and
marketing efforts, and for working capital. In particular, the
capital will be used for advanced research and development of
LynxEM+, an integrated graphics subsystem designed for the Linux
platform.”

“The backing of GE Equity and our other investors is critical to
our growth,” said Wallace Kou, president and CEO of Silicon Motion.
“This funding enables us to leverage our success with low-power,
high-resolution technology for the mobile computing industry.”

Press Release