Portview portfolio startup QuickSilver raises $20 million in $40 million round

San Jose-based QuickSilver Technology has raised $20 million in the first stage of its third financing round, which is expected to come to some $40 million. The American startup develops data adaptive computing machine chip technology intended for wireless communications and m-commerce.

The round was led by a strategic investor whose name was not disclosed. Previous investors include the American-Israeli fund Portview Communications Partners, JP Morgan, and TechFund Capital.

Portview gave QuickSilver a bridge loan that was converted into shares and has invested in QuickSilver since the first round.

Portview said that there is a huge need in the market for QuickSilver's unique technology, whose sales potential is very large. Portview said it believes that QuickSilver's chip-development expertise will realize this potential in the near future.

Portview's policy is to invest some $6 million in each of its portfolio companies. To date it has invested about $4 million in QuickSilver, some $3 million in the first round, and over $800,000 as the bridge loan.

Portview said that it is keeping capital for future investments in QuickSilver. It is therefore likely that Portview's investment in the present round was about $1 million.

More from Technology

Facebook Takes Aim at YouTube, But It'll Be an Uphill Online Battle

Facebook Takes Aim at YouTube, But It'll Be an Uphill Online Battle

Microsoft Chief Says Its ICE Contract Isn't Part of Child Separation Policy

Microsoft Chief Says Its ICE Contract Isn't Part of Child Separation Policy

Immigration, Instagram and Oil - Here's What You Can't Miss Wednesday

Immigration, Instagram and Oil - Here's What You Can't Miss Wednesday

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio