NEWS & EVENTS

BlueRun Ventures Invests in Leading Display Component Supplier SiliconWorks

Seoul, Korea – SiliconWorks, a leading supplier of components for LCD flat panel displays, announced that BlueRun Ventures has invested in the company and Kwan Yoon, Partner, has joined the Board of Directors. SiliconWorks, headquartered in Seoul, Korea, is a leading supplier of TFT drivers and controllers for LCD flat panel displays. According to Displaybank, the display driver IC market was $6.6 billion on 2008 and is projected to grow to $8.3 billion by 2012. Applications include monitors, laptops, LCD TV’s, e-paper panels such as Amazon’s Kindle, and mobile devices. SiliconWorks has been a pioneer in display technology since its inception with the world’s firsts in OLED SoC for small displays and TFT SoC’s for small displays leveraging PenTile RGBW technology.

The company will use its new investment to continue customer expansion and product diversification. “SiliconWorks is a relatively young company, established in 1999, that has achieved a tremendous amount of success in Korea,” notes Dae-Kun Han, SiliconWorks’ CEO, “To continue our growth and success, we looked for strategic partnerships that can help expand globally into new markets, customer segments, and product applications. We are particularly excited to work with BlueRun Ventures because of their experience in key global markets and their knowledge in mobile and consumer electronics, two areas that SiliconWorks is focused on.”

SiliconWorks has traditionally focused on applications in flat screen TV’s, computer monitors and notebooks. The mobile and consumer handheld market is a new opportunity area for the company that leverages their technology. “BlueRun was most impressed by the company’s robust technology and strong R&D team. Our investment gives SiliconWorks both the financial and network resources to expand into new markets and applications such as mobile and CE,” comments Kwan Yoon, Partner at BlueRun Ventures.

Despite the company’s relatively low profile, SiliconWorks has continued to gain traction with key customers including Amazon, LG, Dell, and HP.

About BlueRun Ventures:
BlueRun Ventures is a leading early stage venture capital fund focused on Internet & Media, Mobile, Enterprise Software, Semiconductors and Components. For the last 10 years, BlueRun Ventures has worked with early stage companies to build lasting businesses and successful exits in the crossroads of technology, ideas and global markets. BlueRun supports its entrepreneurs by lending its operating and investing experience to guide young companies through competitive and rapidly changing environments. With over $1 billion of capital under management, BlueRun Ventures continues to look for passionate entrepreneurs and market changing ideas. The firm has offices in Menlo Park, Beijing, Shanghai, Helsinki, Seoul, and Mumbai.

Press contact: Cheryl Cheng