Cavium Networks, the Mountain View, Calif. semiconductor company saw its stock price rise a strong 22 percent in trading after its initial public offering.

Cavium provides semiconductor processors for networking equipment that processes voice, video and data content. The company is losing money.

Venture capital firms invested more than $60 million into the company since 2000. Menlo Ventures is the largest shareholder, with 25 percent ownership, down from 29.9 percent pre-IPO, followed by Alliance Ventures, which owns 13.9 percent, Diamonhead Ventures, owning 7.7 percent, and NeoCarta Ventures, 4.6 percent.