Virtual Silicon Gets Real Money

SUNNYVALE, Calif. -- Virtual Silicon Technology Inc., a leader in semiconductor intellectual property (SIP), today announced it has closed $20M in Series C funding from several leading high-technology venture capital firms. Leading the Series C equity round was US Trust Private Equity. Also participating in the round were Gemini Investors, Pacific Venture Group and SCP Private Equity Partners. Previous investors participating in this round include Information Technology Ventures, Walden International, Hotung Group, Singapore EDB Ventures Pte Ltd, Sunrise Capital and Band of Angels Fund. Virtual Silicon will use these new funds to expand its product offering and its worldwide sales channels. Needham & Company served the company as exclusive investment bankers for the financing. "We are very pleased to have the support of these top-tier investment firms," said Taylor Scanlon, chief executive officer at Virtual Silicon. "This investment endorses the importance of the rapidly growing Semiconductor Intellectual Property industry and the critical link it provides between systems-on-chip OEMs and semiconductor foundries throughout the world." Virtual Silicon Technology Inc.