VeriSilicon Prices Its IPO on the STAR Board

Celebrating WestSummit’s seventh multi-billion dollar company in our portfolio


Raymond Yang and Jeremy Chiu

Congratulations to our portfolio company, VeriSilicon, on their IPO on the STAR Board. On the first day of trading VeriSilicon was up over 284% and closed with a $10.3 billion market cap. VeriSilicon is China’s leading Silicon Platform as a Service (“SiPaaS”) company, providing IP-centric, platform-based custom silicon solutions to a wide range of applications across multiple end markets including mobile devices, data centers, automotive, IoT and wearable devices, and smart homes. VeriSIlicon is headquartered in Shanghai, China and has offices globally with over 1,000 employees.

Our Initial Investment:

WestSummit’s relationship with VeriSilicon started over 10 years ago, when the Company had already established itself as a leading silicon solution in China working with its Fortune 500 customer base and delivering solutions that dramatically shortened design cycles, enhanced quality, and reduced product risk. VeriSilicon ended up opening a Series F financing specifically for WestSummit, where we led and were largest investor into the round.

It has been an amazing partnering with Wayne Wei-Ming Dai, Wei-Jin Dai and the rest of the management. Finally, kudos to our investor friends at Xiaomi, Walden, IDG, Intel Capital for being part of this exciting journey!

WestSummit Milestones:

  1. –   Seventh multi-billion dollar company in our portfolio (30% hit rate across flagship funds)
  2. –   Third multi-billion dollar semiconductor listing in China: GigaDevice (SHSE:603986), Anji (SHSE:688019), VeriSilicon (SHSE:688521)
  3. –   Second public offering on Shanghai’s STAR Board since its launch in 2019