DCM China’s Apexone

When DCM – Doll Capital Management (DCM) raised $375 million for Fund IV earlier this month, General Partner David Chao said the firm would begin to make a larger percentage of its deals in China.

DCM has come through with that promise. The firm was expected to announce today that Apexone Microelectronics Inc., a fabless semiconductor company in Shanghai, China, raised $10 million in a Series A round. The deal includes funding from DCM and Walden International. Apexone intends to use the funding to capitalize on the growing need for innovative semiconductor solutions for the rapidly growing consumer electronics, multimedia and telecom marketplace in China. The company also is announcing that Chao and Lip-Bu Tan, chairman of Walden, have joined the board.