[HONG KONG 1 May 2011] PCH International, a global supply chain solutions company, has secured US$4 million in funding from Hong Kong-based Fung Capital.
“We are delighted to receive this funding from Fung Capital, which highlights investor confidence in the robust growth of our company, and the exciting opportunities we see ahead,” said Liam Casey, CEO of PCH International.
Mr Casey said the capital will be used to fund the future
expansion and growth of PCH’s business, particularly
focusing on the Chinese mainland market.
Earlier this month, PCH announced 2010 revenues of US$413 million, an increase of 170% over 2009.
The Fung Capital investment follows a US$26 million round of funding (announced in in February 2011) from Triangle Peak Partners, a Californian private equity firm which focuses on technology and energy, and Cross Creek Capital, a Salt Lake City-based investment firm who are a private equity affiliate of Wasatch Advisors Inc, Lightspeed Venture Partners, Focus Ventures and Norwest Venture Partners.
Fung Capital is the private investment arm of the families of Dr. Victor Fung and Dr. William Fung, and the PCH investment is unrelated to any of the listed companies of the Li & Fung Group.
Fung Capital makes investments in fast-growing supply-chain related technologies as well as consumer product companies primarily in the apparel, fashion accessories, home furnishings, gifts, health and beauty industries.
PCH International creates, develops and delivers the world's best technology products for the world's best brands, focusing on the accessories market for eReaders, smartphones and tablets. With more than 1,000 employees spanning four continents, we offer a unique understanding of China, end-to-end integrated supply chain solutions, world-class design and transparent partnerships. Since 1996, we have used our entrepreneurial vision and innovation to disrupt traditional supply chain models.