Solargen Energy, a renewable power company trading over-the-counter in the US, has raised $4.1m by selling series B convertible preferred stock, plus warrants, to two Asian investors.
UMC Capital, the corporate venturing division of Taiwan-based semiconductor maker United Microelectronics, and Chinatrust Venture Capital, a subsidiary of Chinatrust Financial set up in 2003, bought the stock with the warrants allowing it to buy the same amount again at the same price.
UMC Capital, which was set up in 2001, was previously Solargen’s lead investor in its undisclosed series A round.