Infinity-Backed WLCSP Raises $118M In Shanghai IPO

Beijing-based private equity firm Infinity Group says that its portfolio company, Suzhou-based Wafer Level Chip Scale Package (WLCSP), has listed on the Shanghai Stock Exchange, raising a total of US$118 million, according to a company announcement.


WLCSP is established in 2005 after Infinity helped bring semiconductor technology of Israeli company Shellcase from Jerusalem to China. The Suzhou-based company’s business is to provide wafer-level chip-scale packaging services.

"WLCSP is among the first patch of Chinese companies allowed to IPO in China after a long hiatus," says Infinity’s founder, Amir Gal-Or. "As the first company to list in the A-share market in the year of horse, WLCSP (is unique) as an Israeli venture backed company to list in China based on Israeli technology."

The IPO follows the A-share listing of another Infinity-backed company, Chinese IT service provider DCITS, via a reverse merger on December 30, 2013.

Infinity and China Singapore Suzhou Industrial Park Ventures Co. invested US$73 million in DCITS in 2008 as part of a spinoff of the company from Digital China Holdings Ltd.

Founded in 1993, Infinity Group is backed by China Development Bank and Israeli investment holding company Clal Industries. It currently manages US$800 million.

China Expert Network