Active-Semi Secures $6 Million Credit Facility With Silicon Valley Bank

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Jun 15, 2011, 08:00 ET

SANTA CLARA, Calif., June 15, 2011 /PRNewswire/ -- Active-Semi International, Inc., which designs and sells analog semiconductors for mobile devices, has secured $6 million in debt financing from Silicon Valley Bank (SVB), financial partner to technology and life science companies of all sizes worldwide. For its globally-focused clients, Silicon Valley Bank offers loans and access to banking services that support the off-shore operations of companies, such as Active-Semi, that conduct business around the world. In addition to growth capital financing, Active-Semi will use the new working capital facility in part to finance its account receivables in Hong Kong.

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Active-Semi, which does business in China among other global locations and is backed by venture capital firms U.S. Venture Partners (USVP), Tenaya Capital, Selby Ventures and others, leveraged Silicon Valley Bank's global expertise and capabilities to obtain the debt financing.

USVP General Partner Winston Fu said, "Silicon Valley Bank's expertise in venture debt, combined with its expansion into China, is making it possible for US-based companies manufacturing in China to access custom, sophisticated financing solutions that are typically unavailable from other US or international banks."

"As a global company experiencing rapid growth, we value Silicon Valley Bank's ability to facilitate the financing we need to increase capacity and to expand our US R&D center," said Larry Blackledge, CEO of Active-Semi. "Even in a down economy, we achieved over 30 percent growth last year. 2011 will be even stronger. SVB offered us an informed perspective and access to funding that will help us continue to invest in our growth."

With 800 million units already in the market, Active-Semi continues to develop new PMU/PMICs (Power Management Units / Power Management ICs) to support ARM applications processors and High-Power devices to support Apple iPod/iPhone growth. Active-Semi's AC/DC solutions are currently in 10 percent of the mobile phone chargers worldwide. As a leader in green power solutions, Active-Semi's innovative products exceed all green power efficiency and standby power standards while providing solutions for the industry's most challenging portable power and system management problems.

"Our mission has always been to help entrepreneurial companies like Active-Semi succeed," said Arman Zand, Senior Relationship Manager based in Shanghai for SVB Financial Group. "To achieve our mission in the current global economy, it is imperative that we are able to develop financing solutions that support international operations, manufacturing and sales. Active-Semi is well positioned to take advantage of the global boom in mobile devices, and we look forward to supporting the firm in the US and internationally."

SVB Financial Group established operations in China in 2005 and today has staff in Shanghai and Beijing that helps make introductions to Silicon Valley Bank in the U.S. In addition, SVB Financial Group and Shanghai Pudong Development Bank agreed in December 2010 to form a joint venture bank in China. The joint venture bank application is subject to approval by regulators in the U.S. and China. As of April 21, 2011, SVB's Ken Wilcox became Chairman of Silicon Valley Bank and moved to Shanghai to focus on establishing the joint venture bank and on SVB's expansion in China.

About Active-Semi

Founded in 2004 in Silicon Valley, California, Active-Semi has assembled an international team of analog semiconductor experts, delivering a powerfully unique, innovative product portfolio. Active-Semi ships over 50 million power ICs per quarter and continuously develops new intellectual property.

"Team Active" currently comprises more than 150 people worldwide, with advanced research and development centers, ISO 9001:2000 certified operation, and sales presence worldwide.

For more information, visit www.active-semi.com.

About Silicon Valley Bank

Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, venture capital, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and seven international operations. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB). More information on the company can be found at www.svb.com.

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System. SVB Business Partners (Shanghai) Co., Ltd. and SVB Business Partners (Beijing) Co., Ltd. are subsidiaries of SVB Financial Group. SVB Business Partners (Shanghai) Co., Ltd., SVB Business Partners (Beijing) Co., Ltd. and SVB Financial Group are not licensed to conduct banking business in China and do not engage in unlicensed banking activities. SVB Business Partners (Shanghai) Co., Ltd. and SVB Business Partners (Beijing) Co., Ltd. do not provide lending, deposit or investment advisory services. All international activity is subject to local rules and regulations.