Keen High Technologies Ltd., a Chinese maker of portable audio/visual products, has raised $10 million from CIVC PE Fund.
CIVC signed an investment agreement, leading a $10M investment round in Keen High Technologies Ltd. The signing ceremony took place at the Chinese New Year celebration of the Company on the 26th January 2008 and included dignitaries from Toshiba and Philips, Keen High's strategic partners.
CIVC PE Fund is a partnership between SCGC from China and PNV from Israel; The Fund is headquartered in Shenzhen China, with 13 regional offices across China and an office in Herzeliya, Israel. CIVC invests in mature Chinese companies, in high growth markets. CIVC enhances the value of the invested companies by introducing proven Israeli technologies to enrich their offerings, gain better margins and increased growth.
Keen High is a high growth Consumer Electronics company, engaged in the Design, Manufacturing and Distribution of Portable Media Players (“PMP”) namely MP3/4 and Digital Photo Frame (“DPF”). The company has achieved over $120M in revenue for 2007 growing over 60% from 2006, and is anticipated to continue growth momentum in 2008.
Mr. Arthur Wang the Chairman and CEO of Keen High stated in the investment signing ceremony that: “CIVC's unique contribution to Keen High is their experience and expertise to match Keen High's needs with innovative Israeli technology that will eventually enhance Keen High's product line, to achieve better competitive positioning and enable higher margins”. He also commented that they plan to visit Israel and meet with Israeli companies with relevant technologies in the near future.