San Jose-Based NeoPhotonics Lands Investment from Rusnano

San Jose, Calif. -- NeoPhotonics, a San Jose-based maker of photonic integrated circuits used in high-speed communications networks, said on Monday it has landed a new $39.8 million investment from Russian investment firm Rusnano. Under the deal, the company sold 4.97 newly issued shares to Rusnano for $8 each, and appointed Sergey Polikarpov, Rusnano's managing director, to its board of directors. NeoPhotonics said it will use a portion of the proceeds to establish design and production capabilities in Russia, a market being targeted by a growing number of its clients  "We started to see and investigate this growth opportunity several years ago, and we added sales capability in the region and have since been engaged with and supplying several customers in Russia," said Tim Jenks, the chairman, president and CEO of NeoPhotonics. "With the planned support from Rusnano, we believe that NeoPhotonics is well-positioned to capitalize on new and greater opportunities in the region."
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