H&Q Asia Pacific

H&Q Asia Pacific, founded in 1985 by Dr. Ta-lin Hsu, is a prominent private equity firm that operates independently while drawing on its origins as a division of the U.S. investment banking firm Hambrecht & Quist. Specializing in both later-stage control investments and earlier-stage venture capital, H&QAP targets growth sectors such as technology, technology manufacturing, consumer brands, and financial services. With offices in key Asian markets and Silicon Valley, the firm combines local insights with a global perspective. H&QAP is committed to identifying and unlocking the commercial potential of companies in the Asia Pacific region, leveraging an extensive network to support its portfolio companies in their evolution into global business leaders. Since its inception, the firm has managed 28 funds, reflecting its robust investment strategy and dedication to fostering growth in the region.

Benson He

Managing Director

Ta-lin Hsu

Chairman

Mark Hsu

Managing Director

Jung Jin Lee

Managing Director and Joint Representative Director

Steven Lee

Managing Director

Jong (John) Won Lee

Managing Director and Joint Representative Director

Yuchul Rhim

Managing Director and Joint Representative Director

Robert Shen

Managing Director

37 past transactions

FST NETWORK

Seed Round in 2021
FST Network's product helps enterprises to manage and integrate their data efficiently by providing an IAM solution for cross-system communication and simplifying complex data structure and rules structure that can be utilized for a more efficient CRM solution. Our product enables de-identification protection, access gateway, and accountable network to ensure security for cross-system communication provided with seamless integrations via APIs

EOC Group

Series B in 2017
EOC Pharma Group, founded in 2015 and based in Shanghai, China, is an integrated biopharmaceutical company specializing in the development, manufacturing, and commercialization of innovative oncology products. The company utilizes a licensing model to enhance its product pipeline, collaborating with global biopharmaceutical partners to integrate their molecules into EOC’s local manufacturing and development processes. EOC has established a pipeline of seven novel products, including four that have received Class I innovative drug CTA approvals and are currently undergoing clinical studies in China. The company operates an 8,000 square meter cGMP manufacturing facility in Taizhou and maintains offices in several major cities, including Shanghai, Beijing, Hong Kong, and Los Angeles. EOC's team, comprising experienced entrepreneurs and consultants with extensive pharmaceutical R&D expertise, aims to position the company as a leader in oncology innovation within the Chinese market.

Hyphen Group

Series B in 2017
Hyphen Group operates as CompareAsiaGroup, a prominent personal finance management platform in Asia. Established in 2014 and headquartered in Hong Kong, the Group provides a comprehensive, free, and independent online service for comparing financial products, including banking, insurance, and telecommunications. With partnerships with leading financial institutions, it offers access to over 2,500 products, helping consumers make informed choices and save money. The Group has a significant presence across multiple countries in Asia, including Malaysia, the Philippines, Singapore, Taiwan, and Thailand, employing over 250 individuals dedicated to enhancing personal finance management for users.

One

Series B in 2016
One, Inc. is a technology company that specializes in developing cloud-based software solutions for property and casualty insurers. Founded in 2012 and headquartered in Folsom, California, the company offers a comprehensive software suite known as InsureOne, which includes policy management, payment processing, enterprise efficiency management, and customer relationship management, among other features. Additionally, One, Inc. provides a digital payments platform designed to enhance retention, reduce administrative costs, and improve data security while ensuring compliance. This platform integrates multi-channel digital communications with electronic payment processing, facilitating a seamless experience for premium and claims payments. Serving a diverse clientele that includes agencies, carriers, and managing general agents, One, Inc. manages billions of dollars in transactions annually, positioning itself as a rapidly growing player in the insurance technology sector.

Viscovery

Venture Round in 2016
Viscovery is an advanced artificial intelligence company specializing in image and video recognition through deep learning and computer vision technologies. Founded in 2013, the company has established partnerships with major technology firms and has garnered international investment from notable entities. Viscovery offers tailored recognition solutions across various sectors, including smart retail, e-commerce, media, augmented reality, and smart manufacturing. The company’s research and development team, based in Taipei, consists of experts in artificial intelligence and machine learning, dedicated to exploring innovative applications of vision AI. Through its comprehensive visual discovery services, Viscovery aims to enhance enterprise operations and customer experiences.

Efficient Drivetrains

Series C in 2016
Efficient Drivetrains, Inc. develops and markets advanced technologies for plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), and electric vehicles (EVs). The company specializes in high-efficiency continuously variable transmissions (CVTs) and provides a range of products including drive train controllers, battery modules, and prototype drive trains. Its proprietary vehicle and drive train control software optimizes energy management to reduce fuel consumption and emissions. Efficient Drivetrains also offers engineering support services, including design, analysis, and technology licensing, catering to vehicle manufacturers and integrators. With a focus on innovation, the company serves a global market, including regions such as the United States, Canada, Europe, China, India, and Asia. Founded in 2006 and headquartered in Milpitas, California, Efficient Drivetrains operates a research and development center in Dixon, California, and has been a subsidiary of Cummins Inc. since August 2018.

One

Series A in 2014
One, Inc. is a technology company that specializes in developing cloud-based software solutions for property and casualty insurers. Founded in 2012 and headquartered in Folsom, California, the company offers a comprehensive software suite known as InsureOne, which includes policy management, payment processing, enterprise efficiency management, and customer relationship management, among other features. Additionally, One, Inc. provides a digital payments platform designed to enhance retention, reduce administrative costs, and improve data security while ensuring compliance. This platform integrates multi-channel digital communications with electronic payment processing, facilitating a seamless experience for premium and claims payments. Serving a diverse clientele that includes agencies, carriers, and managing general agents, One, Inc. manages billions of dollars in transactions annually, positioning itself as a rapidly growing player in the insurance technology sector.

PhiSkin

Series A in 2014
PhiSkin is a skin and laser clinic located in China, specializing in a range of skin care treatments. The clinic offers services that utilize advanced laser technology and skin care techniques to address various skin concerns. By focusing on effective and innovative solutions, PhiSkin aims to enhance the overall skin health and appearance of its clients.

Senhwa Biosciences

Series B in 2013
Senhwa Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative cancer therapies. Founded in 2012 and headquartered in New Taipei City, Taiwan, the company is advancing several drug candidates through clinical trials. Notably, CX-4945 is undergoing phase I/II trials for cholangiocarcinoma in combination with gemcitabine and cisplatin, while CX-5461 is being tested in phase I studies for advanced hematologic malignancies and solid tumors, including breast cancer. Additionally, CX-4945 is involved in trials for advanced basal cell carcinoma and recurrent SHH medulloblastoma through pediatric brain tumor consortium studies. Senhwa Biosciences aims to identify and develop therapies that have the potential to significantly enhance treatment outcomes for patients, focusing on underexploited targets that could improve the standard of care.

Ralink Technology

Venture Round in 2013
Ralink Technology Corporation is a leading innovator and developer of wireless chipset solutions. Ralink products are recognized for the superior throughput, extended range, low-power consumption and consistent reliability required for Wi-Fi, mobile and embedded applications. Ralink's feature-rich chipsets have a high level of chip integration, enabling customers to build smaller and more sophisticated mobile wireless products cost-effectively. Ralink's patented MIMObilityTM and Video TurbineTM technologies extend Wi-Fi applications from traditional PC networking to a range of digital multimedia and handheld devices including cell phones, PDAs, cameras, print servers, HDTV and video game players. Ralink customers can look forward to continuous improvements in speed, bandwidth and reliability with IEEE 802.11n solutions for next-generation high-performance Wi-Fi. Ralink Technology was founded in 2001 with headquarters in HsinChu, Taiwan, an R&D center in Cupertino, California, and sales offices in China, Europe, Japan.

Power Analog Microelectronics

Venture Round in 2007
Power Analog Microelectronics, Inc. (PAM), established in 2004, focuses on advanced analog, and high-voltage power integrated circuits. The company's mission is to deliver environmentally friendly "green" integrated circuits that are both highly efficient and space saving allowing customers to deliver the most advanced and cost effective solutions to the market place. PAM was founded in Silicon Valley by business executives with senior management experience in running publicly listed companies, plus key technologists and design experts in the analog and power IC fields. Besides the company's headquarters in Silicon Valley with an advanced research and development center, PAM also has set up technical support centers in Shanghai, shenzhen and Taipei.

Ceres

Series F in 2007
Ceres, Inc. is an agricultural biotechnology company based in Thousand Oaks, California, that focuses on developing and marketing seeds and traits for various crop applications, including feed, forages, and renewable biomass. The company employs advanced plant breeding, biotechnology, and bioinformatics to create seed products that improve yields, enhance resilience to drought, and address other agricultural challenges. Ceres specializes in forage sorghum seeds for livestock feeding and offers energy crops like sweet sorghum and high biomass sorghum, which can be utilized for biofuel production and biomass energy generation. The company's products are marketed under the Blade brand. In addition to its seed offerings, Ceres has developed the Persephone bioinformatics software to facilitate the management and visualization of complex genetic data. Founded in 1996, Ceres, Inc. became a subsidiary of Land O’ Lakes Inc. in 2016.

Silicon Genesis

Series C in 2007
SiGen developed and demonstrated a core set of leading-edge processes for Silicon-on-Insulator (SOI) wafer fabrication using innovations such as plasma activated bonding and room temperature cleaving. The company completed a pilot production facility in 2000 to demonstrate its technology capabilities. After successfully introducing its technology and completing its first major commercial license in 2004, the Company made the transition to being a fabless IP licensor and equipment provider for its engineered substrate solutions. SiGen is located in San Jose, California and has now moved its R&D wafer IP development lab to its corporate headquarters. SiGen has entered into numerous IP licenses, including equipment suppliers, commercial silicon wafer manufacturers, and other advanced substrate manufacturers. The wafer maker licensees have a total market share of over 45% of the world semiconductor silicon wafer market. The Company expects these semiconductor market licensees to capture at least the same or greater share of the SOI market. With numerous emerging opportunities, SiGen expects to broaden its market applications into the Solar Cell market and thus enable the Company to participate in the high growth segments of four major markets: Semiconductor, Solar, Optoelectronic and Display.

Optovue

Series B in 2007
Optovue Corporation is an ophthalmic device company dedicated to working with eye care professionals and clinical researchers to lead the commercialization of new imaging modalities that improve diagnosis and therapy of ocular disease. Incorporated in December 2003 and located in Fremont California, Optovue was founded by pioneers of Optical Coherence Tomography to develop the next generation ophthalmic diagnosis instrument based on the Fourier-Domain OCT technology. The ultra-high speed high resolution FD-OCT provides physicians with advanced retina diagnostic capabilities that will have significant benefit for patients who have retina conditions such as macular degeneration, diabetic retinopathy, glaucoma, and other macular diseases.

A10 Networks

Series B in 2006
A10 Networks, Inc. specializes in providing software and hardware solutions aimed at enhancing application delivery, security, and network performance. The company offers a range of products, including the Thunder Application Delivery Controller, which optimizes server load balancing, and the Lightning Application Delivery Controller, a cloud-native platform designed for application and microservices security. Additionally, A10 Networks provides a suite of security solutions, such as the Thunder Threat Protection System, which safeguards against distributed denial of service attacks, and the Thunder Convergent Firewall, which consolidates multiple security functions into one appliance. The company also features intelligent management tools like the Harmony Controller and aGalaxy TPS for efficient network management. A10 Networks serves a diverse clientele, including cloud providers, enterprises, and government organizations across various industries. Established in 2004 and based in San Jose, California, A10 Networks markets its products through direct sales and partnerships with distributors and system integrators.

Anchor Semiconductor

Series B in 2006
Anchor Semiconductor is a pioneer and technology leader in Design for Manufacturability (DFM) software products for characterization and optimization in layout-to-silicon pattern transfer processes. The innovative pattern-centric NanoScope™ DFM platform is uniquely capable of providing solutions to meet the patterning challenges. The NanoScope platform integrates comprehensive layout analysis and advanced technologies. Extended application areas include semiconductor design hotspot identification, special RET and OPC, OPC verification, photomask manufacturing, wafer level printing and hotspot analysis. Advanced lithography modeling enables pattern-centric imaging characterization down to 45 nm technology node. Using Anchor's tools, their customers have successfully shortened time-to-yield and time-to-profitability.
Power Analog Microelectronics, Inc. (PAM), established in 2004, focuses on advanced analog, and high-voltage power integrated circuits. The company's mission is to deliver environmentally friendly "green" integrated circuits that are both highly efficient and space saving allowing customers to deliver the most advanced and cost effective solutions to the market place. PAM was founded in Silicon Valley by business executives with senior management experience in running publicly listed companies, plus key technologists and design experts in the analog and power IC fields. Besides the company's headquarters in Silicon Valley with an advanced research and development center, PAM also has set up technical support centers in Shanghai, shenzhen and Taipei.

InStadium

Venture Round in 2005
InStadium offers live sports marketing network, dedicated to connecting brands with fans at live events in more than 425 professional and collegiate stadiums and arenas across the country. Powered by live sports, InStadium delivers unparalleled, multi-channel brand engagement opportunities on behalf of Fortune 500 clients to millions of captive consumers in hundreds of venues at tens of thousands of events each year.

A10 Networks

Series A in 2005
A10 Networks, Inc. specializes in providing software and hardware solutions aimed at enhancing application delivery, security, and network performance. The company offers a range of products, including the Thunder Application Delivery Controller, which optimizes server load balancing, and the Lightning Application Delivery Controller, a cloud-native platform designed for application and microservices security. Additionally, A10 Networks provides a suite of security solutions, such as the Thunder Threat Protection System, which safeguards against distributed denial of service attacks, and the Thunder Convergent Firewall, which consolidates multiple security functions into one appliance. The company also features intelligent management tools like the Harmony Controller and aGalaxy TPS for efficient network management. A10 Networks serves a diverse clientele, including cloud providers, enterprises, and government organizations across various industries. Established in 2004 and based in San Jose, California, A10 Networks markets its products through direct sales and partnerships with distributors and system integrators.

Array Networks

Series B in 2004
Founded in 2000, Array Networks is a leader in application acceleration, secure access and cloud service delivery. Today, more than 5000 worldwide customers including enterprise, service provider and public sector organizations rely on application delivery networking solutions powered by Array SpeedCoreâ„¢ technology. Backed by H&Q Asia Pacific, U.S. Venture Partners and over 250 employees spanning Silicon Valley, Beijing, Japan, India and Europe, Array is profitable public company with strong revenue growth overseen by a management team that boasts over 150 years of combined industry experience. Positioned to profit from explosive growth in the areas of mobile and cloud computing, analysts and thought leaders including Deloitte, Red Herring, Gartner and Frost and Sullivan recognize Array Networks as a global market and technology leader.

Optovue

Series A in 2004
Optovue Corporation is an ophthalmic device company dedicated to working with eye care professionals and clinical researchers to lead the commercialization of new imaging modalities that improve diagnosis and therapy of ocular disease. Incorporated in December 2003 and located in Fremont California, Optovue was founded by pioneers of Optical Coherence Tomography to develop the next generation ophthalmic diagnosis instrument based on the Fourier-Domain OCT technology. The ultra-high speed high resolution FD-OCT provides physicians with advanced retina diagnostic capabilities that will have significant benefit for patients who have retina conditions such as macular degeneration, diabetic retinopathy, glaucoma, and other macular diseases.

Array Networks

Venture Round in 2003
Founded in 2000, Array Networks is a leader in application acceleration, secure access and cloud service delivery. Today, more than 5000 worldwide customers including enterprise, service provider and public sector organizations rely on application delivery networking solutions powered by Array SpeedCoreâ„¢ technology. Backed by H&Q Asia Pacific, U.S. Venture Partners and over 250 employees spanning Silicon Valley, Beijing, Japan, India and Europe, Array is profitable public company with strong revenue growth overseen by a management team that boasts over 150 years of combined industry experience. Positioned to profit from explosive growth in the areas of mobile and cloud computing, analysts and thought leaders including Deloitte, Red Herring, Gartner and Frost and Sullivan recognize Array Networks as a global market and technology leader.

Array Networks

Series B in 2002
Founded in 2000, Array Networks is a leader in application acceleration, secure access and cloud service delivery. Today, more than 5000 worldwide customers including enterprise, service provider and public sector organizations rely on application delivery networking solutions powered by Array SpeedCoreâ„¢ technology. Backed by H&Q Asia Pacific, U.S. Venture Partners and over 250 employees spanning Silicon Valley, Beijing, Japan, India and Europe, Array is profitable public company with strong revenue growth overseen by a management team that boasts over 150 years of combined industry experience. Positioned to profit from explosive growth in the areas of mobile and cloud computing, analysts and thought leaders including Deloitte, Red Herring, Gartner and Frost and Sullivan recognize Array Networks as a global market and technology leader.

Sonics

Series C in 2002
Sonics is a pioneer of network-on-chip (NoC) technology and today offers SoC designers the largest portfolio of intelligent, on-chip communications solutions for home entertainment, wireless, networking and mobile devices. With a broad array of silicon-proven IP, Sonics helps designers eliminate memory bottlenecks associated with complex, high-speed SoC design, streamline and unify data flows and solve persistent network challenges in embedded systems with multiple cores. As the leading supplier of on-chip communications networks for the embedded market, Sonics has enabled its customers to ship more than 750 million units worldwide. Founded in 1996, Sonics is headquartered in Milpitas, Calif. with offices worldwide.

SMIC

Series A in 2001
Semiconductor Manufacturing International Corporation (SMIC) is a semiconductor foundry providing integrated circuit (IC) foundry and technology services at 0.35-micron to 40-nanometer. SMIC develops one-stop turnkey services to meet its customers’ needs. In addition to IC manufacturing, SMIC offers a full range of services that includes design services, mask manufacturing, and testing. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometer. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai; a 300mm mega-fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy SMIC has a majority-owned 200mm fab. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai, a 300mm mega-fab in Beijing, a 200mm fab in Tianjin, and a 200mm fab project under development in Shenzhen. SMIC also has customer service and marketing offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong. SMIC competes with Taiwan Semiconductor Manufacturing Company, Ltd., United Microelectronics Corporation, GlobalFoundries, Fujitsu Limited, Samsung Electronics Co., Ltd., and Toshiba Corporation.

Transvirtual Technologies

Series A in 2001
Transvirtual Technologies Inc. is a private company based in Houston, Texas, focused on developing software for Information Appliances using web technologies. The company specializes in integrating XML (eXtensible Markup Language) and Java with its proprietary Java Virtual Machine, Kaffe. This integration facilitates the creation of the eXtensible Operating Environment (XOE), a standard that enhances communication between devices. Additionally, Transvirtual Technologies is involved in computer facilities management, providing services that support the operational needs of computing environments.

Array Networks

Series A in 2001
Founded in 2000, Array Networks is a leader in application acceleration, secure access and cloud service delivery. Today, more than 5000 worldwide customers including enterprise, service provider and public sector organizations rely on application delivery networking solutions powered by Array SpeedCoreâ„¢ technology. Backed by H&Q Asia Pacific, U.S. Venture Partners and over 250 employees spanning Silicon Valley, Beijing, Japan, India and Europe, Array is profitable public company with strong revenue growth overseen by a management team that boasts over 150 years of combined industry experience. Positioned to profit from explosive growth in the areas of mobile and cloud computing, analysts and thought leaders including Deloitte, Red Herring, Gartner and Frost and Sullivan recognize Array Networks as a global market and technology leader.

Caspian Networks

Series C in 2000
Caspian Networks (formerly PacketCom) is an Internet infrastructure company designing a breakthrough new generation of equipment for the heart of the largest networks in the world – the service provider networks upon which the Internet is based. Company shut down.

Embedded Wireless Devices

Series C in 2000
embedded wireless devices develops and markets the most optimized total solutions in silicon for wireless, audio and internet applications. These technological advancements enable such applications as wireless PBX, wireless home networking, PDAs, VoIP devices, MP3 players/recorders and Internet appliances. Consisting of digital and analog components plus complete on-chip software, ewd's solutions shorten product development cycles and significantly reduce the product's complexity and overall cost. Core competencies include wireless/Internet applications and protocols, multiple programmable basebands, multitasking architectures, digital signal processing, flash memory addressing, and power/battery management.

Onscan

Venture Round in 2000
Onscan Inc., a wireless Internet solutions company incubated by Infosys Technologies Limited

Sageware

Series C in 2000
Sageware specializes in providing enterprise information portal solutions, focusing on current awareness and content management for corporate intranets and online publishers. The company develops services that automatically categorize, filter, and enable search functionality for text documents and data records using industry-specific subject queries. Its offerings cater to vertical market internet portals, e-commerce platforms, and enterprise portals, enhancing the accessibility and organization of information for businesses.

Idini

Series A in 2000
iDini is developing break-through technology for delivering interactive applications to wireless devices. With iDini, wireless products will be not only mobile, but also as powerful as desktop computers. Instead of looking for phone jacks and waiting to boot up laptops, mobile professionals will simply use devices such as PDAs or mobile phones to access any application available on a computer. Consumers throughout the world can access any entertainment or communications service that can be delivered over the Internet. iDini's products open up a new wave of services, enabling the growth of a significant new market for wireless data.

AdvisorTech

Private Equity Round in 2000
AdvisorTech believes intermediaries - from major broker-dealers, banks, and insurance companies to investment advisors and financial planners - will continue to play an important role in ensuring that individual investors achieve their goals. To compete effectively, intermediaries need access to Internet technology, high-quality products and investment insight - AdvisorTech provides that access. They do this with technology that supports investment selection, marketing, customer management, and the trading of mutual funds and other financial products. Their customers include both large and small financial intermediaries around the globe.

OnMobile

Series A in 2000
OnMobile Global Limited provides telecom value added services in India and internationally. It offers apps and services under the ONMO brand name; and carrier services, such as ring back tones, videos, contests, and games. The company was formerly known as OnMobile Asia Pacific Private limited and changed its name to OnMobile Global Limited in August 2007. OnMobile Global Limited was founded in 2000 and is headquartered in Bengaluru, India.

AsiaContent

Series A in 1999
AsiaContent is a Pan-Asian consumer Internet company. It provides Internet advertising solutions to online advertisers and web publishers. AsiaContent was founded in 2001 and is headquartered in Hong Kong.

Storactive

Series A in 1999
Storactive offers data protection technologies for client personal computers and enterprise servers in Europe. It offers LiveBackup and LiveBackup Express, backup software, which deliver automatic data backup, end-user file recovery, and easy disaster recovery for distributed laptop and desktop personal computers; and LiveServ, a zero-loss data protection solution for Microsoft exchange servers that eliminates the vulnerabilities associated with scheduled backup systems and ensures recovery of recent data. The Company's flagship technology continuously backs up and manages enterprise and distributed data throughout its entire life cycle, even as changes occur. In March 2006, Storactive was acquired by Atempo Inc.