Photonic integrated circuit manufacturer NeoPhotonics Corp.
of San Jose, Calif., has received a $39.8 million investment from sovereign investment firm Rusnano of Moscow in a private placement transaction. Rusnano acquired 4.97 million shares of NeoPhotonics at $8 each. NeoPhotonics is planning to build R&D facilities in Russia and will use a portion of the net proceeds from the common stock share sales for general corporate purposes and to establish design and production capabilities there. Targeted completion date for the expansion is July 31, 2014.