Samsung Ventures invests in 802.16e chip firm

Samsung Ventures America, the U.S. based venture capital investment arm for Samsung Venture Investment Corporation (SVIC), has invested $20 million in Beceem Communications, a developer of 802.16e Mobile WiMAX chipsets. The financing was part of a C Series round for Beceem which also included existing investors Global Catalyst Partners, KTB Ventures, Sequoia Capital, Walden International, Vinod Khosla, AmBex Venture Group and Mitsui Incubase Corp. The announcement comes less than a week after the IEEE announced the long-anticipated approval of the 802.16e standard. SVIC also previously invested in TeleCIS Wireless, a maker of 802.11 Wi-Fi chips, that is also working with 802.16 technology.

Beceem, a two-year-old company based in Santa Clara, Calif., has already demonstrated its prototype chipsets to leading telecom equipment manufacturers, the company said.

Brian Kang, principal investment manager at Samsung Ventures America, said in a statement. "Beceem is a key player with leading edge solutions for the Mobile WiMAX space and we look forward to providing them with the resources to continue pioneering in the Mobile WiMAX market."

Samsung Ventures America manages U.S. investment and investment-related activities for Samsung Group and SVIC from local offices in San Jose. The company maintains a $300 million fund.