SAN JOSE, Calif. -- R&D foundry SVTC Technologies Inc. has raised $34 million in new funding from its existing investors, Oak Hill Capital Partners and Tallwood Venture Capital.
The new funding positions SVTC for additional expansion that will allow the company to support customer interests in analog technology, bio-devices and optical components.
The investment coincides with the two-year anniversary of SVTC's emergence as an independent, privately- owned enterprise.
At one time, San Jose-based SVTC was owned and operated by Cypress Semiconductor Corp. as a "lab-to-fab" facility aimed at third-party engineering groups. Over the years, the business grew to serve dozens of customers, ranging from startups to large fabless semiconductor companies.
In 2007, Cypress sold its R&D fab unit to private-equity firms Oak Hill Capital Partners and Tallwood Venture Capital for approximately $53 million.