Infinity Group Invests RMB 8 Million in Solorein Technology Inc.

News provided by

Mar 05, 2012, 07:00 ET

CHENGDU, China, March 5, 2012 /PRNewswire/ --

Infinity Group, a cross-border, private equity platform known for its strong roots in China, its vast, global network of technology and innovation, and its "China Outbound" initiative, which supports Chinese companies with an interest in international business, announced today that it has invested RMB 8 million in Solorein Technology Inc. through its Chengdu Shuangliu Fund.

This marks Infinity's first investment in a company in Chengdu. The financing will be used to support Solorein's R&D and to expand its production capacity. Solorein is the only national Chinese Planar Light-wave Circuits (PLC) chip producer for triple play - the integration of telecommunications networks, cable TV networks and the Internet.

In 2012, the Ministry of Industry of China, together with five other ministries in China, published "Views on Promoting the Construction of a Fiber-optic Broadband Network" or the "Views". As per the report, over the next three years, the Chinese government intends to invest RMB 150 billion to construct a fiber-optic broadband network. During this same time period, it is anticipated that new broadband subscribers will exceed 50 million and the triple play market in China will reach RMB 1.5 to 2 trillion. In addition, the "Views" also emphasized that there will be R&D investment and governmental support for fiber-optic broadband communication chips, devices, system devices and applications. Again, as noted by the report, all of this is meant to encourage technology innovation, establish a national fiber-optic broadband technology standard, and promote industrial development.

Infinity Group founder and managing partner Mr. Amir Gal-Or said, "Infinity's investment interests are congruent with the goals of the "Views". The financing announced today in Solorein offers a perfect example. Solorein develops and manufactures the leading PLC technology in China. This is one of the reasons that make this company one of the most worthy investment opportunities in the Sichuan area. Infinity will make full use of its own IT and communication technology platform advantages to help Solorein achieve further leapfrog advancement."

Mr. Gal-Or continued, "We have full confidence in Solorein's skilled and professional executive management team, led by CEO Dr. Li Chaoyang. We look forward to a fruitful partnership."

Established in 2004 and headquartered in Chengdu's Southwest Airport Economic Development Zone, Solorein is a Sino-US, joint venture, high-tech enterprise with core management and technical teams based in the Silicon Valley. The company is engaged in R&D and the large-scale production and sales of fiber optic components and subsystems products based on its patented PLC technology. The company's products cover both active and passive fields including PLC splitters, PLC based VOA, WINC, CWDM, WDM PON, TAP-PD, etc. Solorein's annual sales and profit growth rate exceeded 100% in the past three years.

"We look forward to working together with Solorein to achieve new milestones and plateaus of growth," said Zhang Xiaodong, director of Infinity's Chengdu Shuangliu Fund.

About Infinity Group

Infinity Group is a cross-border, private equity platform known for its strong roots in China, its vast, global network of technology and innovation, and its "China Outbound" initiative, which supports Chinese companies with an interest in international business. It is also the founder of the Infinity IP Bank, the hub for IP development and commercialization in China. Infinity Group currently manages 16 funds, 14 in China. Infinity has a portfolio of 45 companies and has made 22 successful exits. Infinity, which has the greatest number of RMB funds in China, was founded by the China Development Bank and IDB Group, the largest conglomerate in Israel. Infinity serves as a bridge for Chinese companies that want to integrate technology and know-how to become industry leaders domestically as well as to compete internationally, and for non-Chinese companies, with proven technology, seeking to capitalize on the Chinese market. Sectors of focus include: information technology, medical device and services, water clean tech, agriculture and materials. Infinity currently has offices in Beijing, Changzhou, Chengdu, Chongqing, Harbin, Hong Kong, Jining, New York, Ningbo, Shanghai, Shijiazhuang, Suzhou, Tel Aviv and Tianjin. For more information, please visit http://www.infinity-equity.com.