Silecs Closes € 11,5 Million of Venture Capital for Global Expansion

Silecs Ltd made a big splash on the 18th of May by closing a round totaling $16 million of venture capital lead by Singaporean EDB Investments Ltd (EDBI) with support from its prior investors from Europe, Tempo Capital Partners, Innovations Kapital and Finnish Industry Investments (TESI).  Founded in Finland in 2000, this developer and manufacturer of advanced polymers has its global headquarters in Singapore and an European head office in Espoo, Finland. Previously Silecs has accrued €18 million in four rounds of investments from its earlier European investors.

Silecs a leader in developing and producing advanced polymers for use in semiconductor manufacturing as well as for displays and solar applications. It competes in the global market of electronic chemicals and materials valued at approximately €25 billion. This first investment with participation from outside Europe will significantly increase Silecs’ operational capabilities globally as well as accelerate its R&D processes to keep up with the fast growing microelectronics market. These funds aimed at internationalization along with its Asian headquarters in Singapore  significantly augment its market penetration in Asia. This closing allows Silecs to leverage the established international network of EDBI to further its challenge in becoming a global market leader.

Singapore based EDBI is a leading strategic investment company with a global presence. Investing into innovation-intensive industries of biomedicine, cleantech, internet and digital media, as well as other high growth sectors, EDBI creates dynamic partnerships with its portfolio companies to add value to them through its expansive network and international experience. Currently EDBI has a grand total of 54 portfolio companies.  

Silecs R&D functions are based in Espoo, Finland. Its competitive advantage comes from its unique solutions that are customized according to its customers’ needs and implemented cost-effectively and environmentally. Via this competitive edge Silecs was able to secure multiple major international contracts in 2010 in the ultra competitive microelectronics industry. Through these deals Silecs has already more than trebled its revenue in the last two years and more growth is expected to come as this investment is put into use.

 This deal continues the positive trend of venture capital financing for Finnish high-tech companies in 2011. Most of this investment will probably be allocated into sales growth and global expansion, however the company’s Finnish based material development functions will most definitely receive a significant portion as its cutting-edge products are the core competence behind Silecs recent and future success.