Capital Lite Working Group

  • Overview
  • Meeting Schedule
  • Presentations
  • Papers
  • Minutes
  • Group Members
  • News

Overview

The Capital Lite Working Group is a result of discussions that took place during multiple VC panel discussions in 2011 that were chaired by GSA’s ECCEO Council and the publication of the paper The Capital-Lite Semiconductor Model: Revitalizing Semiconductor Startup Investment. The purpose of this Working Group is to foster discussion regarding the current state of funding for semiconductor start-ups; postulate alternative models and solutions; and ultimately turn our discussion into actionable events that will benefit our industry by encouraging entrepreneurship and innovation.

Vision

To create a seamless consortium of representatives from the entire semiconductor ecosystem that fully cooperate in enabling start-ups to prosper and return significant multiples to all its constituents and to establish a pipeline of funded, innovative semiconductor companies with an appropriate capital structure to make this the largest segment in tech financing.

Mission

To develop, promote and execute expanded investment models that can be used by semiconductor start-ups to innovate and prosper.

Objective
  • Invigorate semiconductor start-up investment and subsequent returns
  • Enable high quality innovation
  • Stimulate sustainable M&A and new IPO deal flow
Participants
  • CEOs, CFOs, and senior leadership from within the entire semiconductor ecosystem, OEMs, VCs, Finance, Banking and M&A executives
Approach
  • Identify concerns in existing funding models for semiconductor start-ups
  • Quantify the problem within the semiconductor industry
  • Postulate the impact of the problem to the semiconductor industry and the markets served by this industry
  • Propose alternative solutions; e.g. Capital-lite
  • Build internal consensus and solicit external feedback
  • Solicit industry participation and support
  • Agree on and implement solution(s)

Contact Information

Wade Giles
M 214.794.6619
E wgiles@gsaglobal.org

Working Group Chair
Matt Rhodes, CEO, Semitech Semiconductor

Meeting Schedule

No meetings are scheduled at this time.  Please check back at a later date.

 

 

 

 

 

Presentations

May 1, 2013

Nov 7, 2012

Mar 14, 2012

Jan 24, 2012

Dec 7, 2011

Oct 13, 2011

Oct 6, 2011

Sept 13, 2011

Sept 1, 2011

May 24, 2011

Papers

Innovation Center (PDF, 269 KB)
This white paper by SK telecom Americas outlines their funding model to seed new start-ups, mitigate risk, and ensure a successful exit.

Innovation Evolution in the Semiconductor Industry
Authors: Ken Lawler, General Partner, Silicon Ventures; Warren Savage, President and CEO, IPextreme; and Michael Fancher, Associate Professor of Nanoeconomics, College of Nanoscale Science and Engineering

Capital Lite Business Model Strategies & Tools: A Startup’s Guide to Surviving an Investment Drought
This white paper focuses on invigorating semiconductor start-ups to enable high quality innovation, increased investment and subsequent returns, and stimulate sustainable M&A, as well as new IPOs.

Capital-Lite Semiconductor Model: Revitalizing Semiconductor Startup Investment (PDF, 98 KB)
Authors: Amer Haider, Vice President of Corporate and Business Development, Cavium and Awais Nemat, former Vice President of Enterprise Business Unit, Marvell Semiconductors

Startup Outlook 2012 Report (PDF, 886 KB)
Author: Silicon Valley Bank

A Lean Fabless Semiconductor Business Model (PDF, 285 KB)
Author: Andreas Olofsson, Adapteva, Inc.

Minutes

2012 Meeting Minutes
2011 Meeting Minutes

Group Members

Contact Wade Giles for membership information.

Battery Ventures Battery Ventures
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News

Lattice Semiconductor to Acquire Silicon Image for Approximately $600 Million
Tuesday, January 27, 2015
Business Wire
Lattice Semiconductor Corporation), a leading provider of programmable connectivity solutions, and Silicon Image, Inc., a leading provider of wired and wireless connectivity solutions, today announced that they have signed a definitive agreement, pursuant to which Lattice will acquire Silicon Image in an all-cash tender offer of $7.30 per share, representing an equity value of approximately $600 million (or approximately $450 million on an enterprise value basis) and a 34.6% premium to the average closing price over the last 90 trading days and a 23.7% premium to the closing price on January 26th.

Everspin Increases Series B Funding to $29M With Strategic Investments From GLOBALFOUNDRIES and Western Digital Capital
Monday, January 26, 2015
MarketWatch
Everspin Technologies, Inc., the world's leading developer and manufacturer of discrete and embedded MRAM, today announced that the company has closed its $29 Million (USD) Series B round of venture capital and strategic investment.

Amazon to Buy Israeli Start-up Annapurna Labs
Thursday, January 22, 2015
Reuters
U.S. tech giant Amazon confirmed on Thursday that it has agreed to buy Israeli chipmaker Annapurna Labs for its cloud computing unit, Amazon Web Services.

Sunplus to Sell STB Chip Business to China Firm
Wednesday, January 21, 2015
DIGITIMES
Sunplus Technology, a Taiwan-based IC design house specializing in multimedia and PC peripheral chips, has announced plans to sell its STB (set-top box) IC business to China-based Availink for NT$330 million (US$10.47 million).

Semtech Acquires Assets of EnVerv
Thursday, January 15, 2015
Design & Reuse
Semtech Corporation, a leading supplier of analog and mixed-signal semiconductors, today announced that it has completed the acquisition of assets of EnVerv, Inc., a privately-held supplier of Power Line Communications and Smart Grid solutions targeted at advanced metering infrastructure, home energy management systems and Internet of Things applications.

Mentor Graphics Acquires Flexras Technologies
Tuesday, January 13, 2015
PR Newswire
Mentor Graphics Corp. today announced that it has acquired Flexras Technologies, a leading developer of proprietary technologies that reduce time required for prototyping, validation, and debug of integrated circuits (ICs) and systems on chip (SoCs).

Merger of RFMD and TriQuint Is Now Complete, Qorvo™ Emerges as a New Leader in RF Solutions
Friday, January 2, 2015
PR Newswire
RF Micro Devices, Inc. and TriQuint Semiconductor, Inc. announced today they have completed their merger of equals to form Qorvo™ (Nasdaq: QRVO), a new leader in RF solutions. Qorvo is expected to begin trading today on the NASDAQ Global Stock Market.

Vishay Intertechnology Completes Acquisition of Capella Microsystems, a Fabless IC Design Company
Wednesday, December 31, 2014
Business Wire
Vishay Intertechnology, Inc., one of the world's largest manufacturers of discrete semiconductors and passive electronic components, today acquired all of the remaining outstanding shares of Taiwan based Capella Microsystems Inc. for approximately NT$668.2 million or US$21.0 million, pursuant to the terms of its previously announced merger agreement with Capella. Capella is a fabless IC design company specializing in optoelectronic products.

PSI to List on Taiwan Emerging Stock Market
Tuesday, December 23, 2014
DIGITIMES
Phoenix Silicon International (PSI) will start trading on the Emerging Stock Board of the Taiwan Stock Exchange (TSE) on December 23, with a planned listing price of $55 (US$1.74), according to the company.

Powervation Grabs $7M in Debt and Equity Funding
Monday, December 22, 2014
peHUB
Intelligent digital power firm Powervation, which is headquartered in Ireland, has raised $7 million in debt and equity financing.

Camera Tech Startup InVisage Raises $15M More in Latest Round
Wednesday, December 17, 2014
Silicon Valley Business Journal
InVisage Technologies, a developer of smartphone image sensors, added $15 million to its Series E round announced early this year, bringing it up to $32.5 million.

MEMS Innovator Qualtré Secures $9M Strategic Investment Round
Wednesday, December 17, 2014
VentureBeat
Qualtré, Inc., the leading innovator of Bulk Acoustic Wave (BAW) silicon MEMS inertial sensors, today announced $9 million in funding from two strategic partners, including Alps Electric, along with current investors, Matrix Partners and Pilot House Ventures.

Quantenna Communications Closes New Investment Round and Adds Two Industry Veterans to Its Board of Directors
Wednesday, December 17, 2014
Business Wire
Quantenna Communications, Inc., a leader in ultra-high performance Wi-Fi solutions, announced today that it has closed a new investment round of $22 million to continue to fuel its rapid growth.

Murata Completes Acquisition of Peregrine Semiconductor
Friday, December 12, 2014
PR Newswire
Murata Electronics North America, Inc., a wholly owned subsidiary of Murata Manufacturing Co., Ltd., and Peregrine Semiconductor Corporation, founder of RF silicon on insulator (SOI) and pioneer of advanced RF solutions, today announce that Murata has acquired all outstanding shares of Peregrine. The cash transaction paid the holders of Peregrine common shares $12.50 per share.

Leading G.fast Company Sckipio Raises $17M
Monday, December 8, 2014
Business Wire
Sckipio Technologies, the leader in G.fast modem chipsets, today announced it has raised $17M USD in a Series B round led by Pitango Venture Capital and combined with follow-on investment from the original Series A investors; Gemini Israel Ventures, Genesis Partners, Amiti Ventures and Aviv Ventures.

ams Enters Agreement to Acquire Private Sensor Specialist acam-messelectronic
Friday, December 5, 2014
Business Wire
ams, a leading worldwide manufacturer of high performance sensor and analog solutions, has entered into an agreement to acquire 100% of the shares in acam-messelectronic, a leader in highly accurate time-based measurement and related sensor solutions, in an all-cash transaction.

Novelda Today Announced It Has Secured $12M in Financing to Bring Its Advanced Sensors for Vital Signs Detection to Market
Wednesday, December 3, 2014
Business Wire
Novelda, a developer and manufacturer of adaptive smart sensors, announces the closing of a $12M Series A financing round to secure delivery and further development of its XeThru sensor technology.

Freescale Acquires Zenverge and Its Market-Leading Transcoding Technology
Tuesday, December 2, 2014
Business Wire
Freescale Semiconductor has acquired Zenverge, a fabless semiconductor company and a leading developer of advanced HD content processing ICs.

SureCore Raises $1.6m
Tuesday, December 2, 2014
Electronics Weekly
SureCore, the Sheffield-based SRAM intellectual property (IP) company, has raised $1.6m in Series A funding bringing its total funding to $2.4m.

Cypress Semiconductor Buys Spansion For About $1.6 Billion
Monday, December 1, 2014
Silicon Valley Business Journal
Cypress Semiconductor Inc. is buying flash-memory maker Spansion Inc. for nearly $1.6 billion in stock, based on Cypress' closing price of $10.43 per share today.

NXP Semiconductors Acquires Wearable and Bluetooth Low Energy IC Business of Quintic
Monday, November 24, 2014
GlobeNewswire
NXP Semiconductors N.V. today announced that it has entered into a definitive agreement with Quintic to acquire assets and IP related to its Wearable and Bluetooth Low Energy (BTLE) IC business. This transaction contributes to NXP's drive to create security and connectivity solutions for fast-growing Internet-of-Things applications in Health & Fitness Wearables, Mobile Transactions, Proximity Marketing, Smart Home and Automotive.

Plunify Closes Round of Funding With Investment from Lanza techVentures
Wednesday, November 19, 2014
Marketwired
Plunify® Pte. Ltd., provider of groundbreaking field programmable gate array software, today announced it completed a round of funding with an investment from Lanza techVentures, an early stage venture capital investment firm.

SanDisk Expands its Commitment to the 'Connected Device' Market with a Strategic Investment in Altair Semiconductor
Wednesday, November 19, 2014
Business Wire
SanDisk Corporation, a global leader in flash storage solutions, today announced that the company's venture arm, SanDisk Ventures, has invested in Altair Semiconductor, the leading developer of high-performance, single-mode LTE chipsets. Altair's high-performance products bring 4G LTE Internet connectivity to tablets, netbooks, USB dongles, portable hotspots, fixed routers and modems, machine-to-machine applications and other devices.

TSMC Buys Qualcomm Taiwan Factory for US$85 Million
Wednesday, November 19, 2014
DIGITIMES
Taiwan Semiconductor Manufacturing Company (TSMC) has acquired a Qualcomm factory in Longtan, northern Taiwan, for US$85 million, according to a company filing with the Taiwan Stock Exchange (TSE).

NGCodec Raises Funds in New Financing Round
Tuesday, November 18, 2014
Design & Reuse
NGCodec Inc., a pioneer in Next Generation video Codec (compressor-decompressor) technology, announced today that it has received several million dollars in new financing from Belmore Capital.

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