On November 17, 2021, Riverside Partners announced the acquisition of its portfolio company, R&D Altanova, by Advantest Corporation (TSE: 6857). R&D Altanova, based in South Plainfield, NJ, specializes in consumable test interface solutions for the semiconductor sector. The financial terms of the acquisition remain undisclosed. Riverside highlighted that R&D Altanova transformed from a founder-led company to a professionally managed firm under CEO Seyed Paransun, achieving growth and operational excellence. This marks the third exit from Riverside Partners Fund V.
On September 23, 2021, proteanTecs announced a $50 million extension to its Growth Equity Round, bringing total funding to $150 million. The investment, led by Koch Disruptive Technologies and joined by MediaTek and Advantest, highlights the growing need for health and performance monitoring in electronics. The funding will be used for global expansion and product development. Strategic partners view proteanTecs' technology as crucial for the automotive sector driven by electrification and higher safety demands. The investment underscores confidence in proteanTecs' innovative deep data solutions.