Development Bank of Japan accomplished equity investment in Global Equipment Services Series B financing round.
This round of financing was led by IDGVV – a technology venture capital fund in Vietnam, and also participated by Japan’s IT-Farm Nozomi Investment Fund. The funds will be used to expand GES’ global presence, support development of additional markets, and grow their hi-tech manufacturing/training facilities.
The investment from DBJ is another vote of confidence in GES underlying business strategy and progress.
“We believe that participation in GES is a great opportunity for us to broaden and strengthen our investment portfolio,” says Shin Kikuchi, Head of New Business & Technology Finance, DBJ.
“We also believe about the value GES brings to semiconductor, FPD and solar equipment manufacturers not only in Japan but worldwide, and look forward to supporting GES’s business with our financial know-how and network.”
“The funding comes at the right time for GES, as we prepare to invest more in our customer service infrastructure, and execute on M&A plans to add critical new engineering and manufacturing services,” says Don Tran, president and CEO, GES.
“GES’s ability to raise new funds at a healthy valuation amidst this global financial crisis results from a track record of operational excellence, top-line and bottom-line growth, and expanding footprint,” says Henry Nguyen, managing general partner, IDGVV.
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