Seasoned investor and semiconductor executive brings extensive industry knowledge to help solidify Aquantia’s market leadership position
San Jose, CA – October 5, 2015 – Aquantia, a leading developer, and global supplier of high-speed connectivity solutions for data centers, cloud-based storage systems, and enterprise networks, today announced it has appointed Lip-Bu Tan to its Board of Directors. Lip-Bu Tan, the CEO and President of Cadence Design Systems, is also the Founder and Chairman of Walden International, a venture capital firm that manages over $2 billion in investment funds. His firm recently contributed to Aquantia’s $37 million round of financing.
Tan has served as President and CEO of Cadence Design Systems, Inc. since January 2009 and has been a member of the Cadence Board of Directors since February 2004. Cadence is widely recognized for its product leadership, innovation and robust technology portfolio. Since his appointment, Cadence has returned a 400% stock increase to shareholders and has a total market cap of $6B. Mr. Tan’s success at Cadence demonstrates his deep understanding of the needs of the semiconductor industry for design tools that support high-performance designs. Most recently, he was appointed to the future board of directors of the new Hewlett-Packard Enterprise.
“The high-volume market that Aquantia plays in is very demanding, and it takes superior technology and flawless execution to be successful,” said Lip-Bu Tan, Chairman & Founder of Walden International. “The company has delivered consistently ahead of the competition the right products at the right time to become the next networking connectivity leader. I look forward to helping Aquantia with its worldwide growth strategy.”
“We are delighted to have Lip-Bu Tan join our board of directors at this pivotal time in the company’s history,” said Faraj Aalaei, President and CEO of Aquantia. “His wealth of proven business and technology leadership experience in the semiconductor industry and legacy relationships will provide invaluable insights and direction to Aquantia as we enter new growth markets and accelerate the use of 5 and 2.5 Gigabit technology in enterprise networks.”
An active venture capitalist for the past two decades, Tan founded Walden International Group in 1987 and currently serves as its Chairman. He is widely regarded for introducing and pioneering the United States venture capital concept in Asia and contributed towards the promotion of early-stage technology investing in the Asia-Pacific region. Some of the successful company investments made by Walden under Tan’s guidance include GoPro, Ambarella, Inphi, Lucidworks, Ouya, Paxata, and SugarCRM.
Aquantia is a leading developer, and global supplier of high-speed connectivity solutions for data centers, enterprise and WLAN applications. The transition to 10Gb Ethernet and Multi-Gig Ethernet is currently underway, driven by the consolidation of data in the cloud and the mobile revolution. Aquantia’s 10GBASE-T and AQrate PHY product lines lead the market with low-power, high-performance, and high-density silicon solutions. The company is strategically positioned to lead the traditionally long upgrade cycles in both Data Center and Enterprise infrastructure representing a multibillion-dollar market opportunity. Aquantia is headquartered in Silicon Valley, California with strong venture capital and strategic investors.
Walden International | Riverwood Capital
Walden International is a leading international venture capital firm that has been providing investors access to cross-border, information technology opportunities with the advantage of an unrivaled Pan Asia network since 1987. The firm’s funds total over US$2 billion in committed capital. We look to partner with the best of the best – entrepreneurs with a strong appreciation for the benefits of leveraging talent and markets independent of geography to gain unfair advantage. Walden International’s investments include DangDang (NYSE: DANG), Inphi (NYSE: IPHI), AutoNavi (NASDAQ: AMAP), Fujian Haiyuan (Shenzhen: 002529), Le Gaga (NASDAQ: GAGA), MindTree Ltd. (BSE: MTCL IN), SINA (NASDAQ: SINA), and SMIC (NYSE: SMI and HKSE: 0981.HK).
For more information, please visit www.waldenintl.com.