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

Mobileye Sets IPO Price Range, Aims for $3.6B-$4B Valuation
Monday, July 21, 2014
Seeking Alpha
Mobileye (pending:MBLY) has set a $17-$19 IPO price range. That spells a valuation range of $3.61B-$4.03B.

XMOS Adds Bosch, Huawei and Xilinx as Strategic Investors to Complete $26M Investment Round
Monday, July 21, 2014
Business Wire
XMOS Ltd. the fabless semiconductor company and leader in intelligent multicore microcontrollers, has today announced the completion of a $26.2m Series-D investment round.

Qualcomm Acquires Imaging Division from CSR
Monday, July 14, 2014
EE Times Asia
Qualcomm, a cellphone chipmaker, has announced that it is set to acquire the imaging operations of Israel-based CSR plc, according to local reports. CSR said it would be selling the business for $44 million.

Vishay Intertechnology to Acquire Capella Microsystems, a Fabless IC Design Company
Friday, July 11, 2014
Business Wire
Vishay Intertechnology, Inc., one of the world's largest manufacturers of discrete semiconductors and passive electronic components, today entered into an agreement to acquire Taiwan based Capella Microsystems Inc. for approximately NT$6,051 million or US$205 million.

Audience to Acquire Sensor Platforms
Tuesday, July 8, 2014
Marketwired
Audience, Inc., the leader in advanced voice and audio processing, today announced that it has signed a definitive agreement to acquire Sensor Platforms, subject to customary closing conditions, for consideration consisting of $41 million of cash.

CEVA Acquires RivieraWaves, Expands IP Offering with Connectivity for Smartphones, Tablets, Small Cells and the Internet of Things
Tuesday, July 8, 2014
PR Newswire
CEVA, Inc., the leading licensor of DSP-based IP platforms for vision, audio, communications and connectivity, announced that it has acquired RivieraWaves, a privately held company and a leading provider of wireless connectivity IP for Wi-Fi® and Bluetooth® technologies.

InvenSense to Buy Movea for Sensor Fusion Software
Tuesday, July 8, 2014
IHS
InvenSense Inc., a fabless supplier of inertial MEMS sensors and MEMS microphones, has struck a deal to acquire sensor-hub firmware and software company Movea SA.

Atmel to Buy Newport Media, Adding to Chipmakers' Spree
Monday, July 7, 2014
Bloomberg News
Atmel Corp., a maker of chips for cars and home appliances, agreed to acquire Newport Media Inc. for $140 million in cash to gain wireless-radio capabilities, joining an industry buying spree.

Qualcomm Gets The Jump On WiGig 60 GHz Wireless With Wilocity Acquisition
Wednesday, July 2, 2014
Forbes
Qualcomm announced that they acquired Wilocity, one of the pioneers in 60 GHz WiGig technology.

EZchip Buys Tilera
Tuesday, July 1, 2014
EE Times
In hopes of riding the growing build-out demands for a broad range of networks and datacenters, EZchip Semiconductor, an Israel-based network processor company, announced Tuesday, July 1, that it will acquire Tilera Corporation, a privately held US chip company that specializes in multicore processors.

Lattice Power Corp. Gets $80M in New Equity Funding
Tuesday, July 1, 2014
Private Equity
China-based company that is developing gallium nitride (GaN)-based LED chips manufactured on silicon substrates Lattice Power Corp., has closed on $80 million in new equity funding to advance its production, company's Executive Chairman Sonny Wu told Venture Capital Dispatch.

mCube Closes $37M Series C Financing Round
Wednesday, June 25, 2014
Business Wire
mCube, provider of the world's smallest MEMS motion sensors, today announced it has closed a $37 million Series C financing round. Existing investors participating in the round include Kleiner Perkins Caufield & Byers, MediaTek, iD Ventures America, and DAG Ventures. New investors include Keytone Ventures, SK Telecom (China) Ventures and Korea Investment Partners. mCube plans to use the new funds to further accelerate its growth and expand its line of motion sensors.

Qualcomm Buys Power Amplifier Developer Black Sand
Wednesday, June 25, 2014
Zacks Equity Research
Qualcomm Inc. acquired Black Sand Technologies, a leading fables semiconductor manufacturer. Black Sand deploys its flagship CMOS semiconductor technology to develop advanced power amplifiers for wireless applications.

Avago Technologies Limited to Acquire PLX Technology, Inc. for $6.50 per Share in Cash
Monday, June 23, 2014
GlobeNewswire
Avago Technologies Limited and PLX Technology, Inc. today announced that they have entered into a definitive agreement under which Avago will acquire PLX, a leader in PCI Express silicon and software connectivity solutions, in an all-cash transaction valued at approximately $309 million, or $293 million net of cash and debt acquired.

Israel-based Mobileye Files for U.S. IPO
Friday, June 20, 2014
Reuters
Mobileye N.V., which makes software and cameras that help cars avoid accidents, filed with U.S. regulators on Thursday to raise up to $100 million in an initial public offering.

GigOptix, Inc. to Acquire Tahoe RF Semiconductor, Inc.
Thursday, June 19, 2014
The Wall Street Journal
GigOptix, Inc., a leading supplier of advanced high speed semiconductor components for use in long-haul, metro, Cloud connectivity, data centers, consumer electronics links and interactive applications, through optical and wireless communications networks, today announced that it has signed a definitive agreement to acquire for cash only, by way of assuming specified liabilities, substantially all of the assets of Tahoe RF Semiconductor, Inc., a provider of innovative, leading-edge RF/analog RFICs, IPs, and fully integrated systems and subsystems on a chip.

Analog Devices to Acquire Hittite Microwave Corporation
Monday, June 9, 2014
Business Wire
Analog Devices, Inc., a global leader in high-performance semiconductors for signal processing applications, and Hittite Microwave Corporation, an innovative designer and manufacturer of high performance integrated circuits, modules, subsystems and instrumentation for RF, microwave and millimeter wave applications, today announced that the two companies have entered into a definitive agreement whereby ADI will acquire Hittite for $78 per share in cash. The closing price of Hittite's common stock on June 6, 2014 was $60.56 per share.

ON Semiconductor to Acquire Aptina Imaging
Monday, June 9, 2014
Business Wire
ON Semiconductor, driving energy efficient innovations, today signed a definitive agreement to acquire Aptina Imaging, a leading provider of high-performance CMOS image sensors for automotive and industrial markets, which are the key areas of strategic focus for ON Semiconductor. Other markets addressed by Aptina's products include cameras, mobile devices, and computing and gaming platforms.

QinetiQ Acquires Redfern Integrated Optics
Monday, June 9, 2014
Semiconductor Today
UK-based aerospace, defense and security technology provider QinetiQ Group plc has acquired Redfern Integrated Optics Inc (RIO) of Santa Clara, CA, USA.

Altair Semiconductor Raises Another $25M in its Quest to Make Dirt Cheap LTE Chips
Friday, June 6, 2014
VentureBeat
Israeli LTE chip firm Altair Semiconductor has raised a fresh $25 million, led by new investor Jerusalem Global Ventures, the company told VentureBeat. The round, which closed in March, brings Altair's total funding to more than $125 million.

Cambrios Announces Strategic Investment by Samsung Ventures
Tuesday, June 3, 2014
Business Wire
Cambrios Technologies Corporation, the leader in silver nanowire-based solutions for the transparent conductor markets, today announced a second round of strategic investment by Samsung Venture Investment Corporation (SVIC) of $10M to help fuel the company's growth. Cambrios had previously received an investment of $5M from SVIC in 2011.

St. Jude Medical Completes Acquisition of CardioMEMS
Monday, June 2, 2014
Business Wire
St. Jude Medical, Inc. (STJ), a global medical device company, today announced it has completed its acquisition of privately held CardioMEMS, Inc., developer of the CardioMEMS™ HF System.

ARM Grabs Duolog for SoC Tools
Thursday, May 29, 2014
EE Times
ARM is in negotiations to acquire Duolog Technologies, a Dublin provider of IP integration tools.

Newlans, Inc. Receives $5 Million From Verizon Ventures
Thursday, May 29, 2014
Entrepreneur Sky
A technology innovator in RF solutions, Newlans has recently announced that it has managed to secure an additional $5 million financial investment from Verizon Ventures to complete its Series B seeding round, amount up to $20 million.

Seagate to Acquire LSI's Flash Businesses From Avago
Thursday, May 29, 2014
Business Wire
Seagate Technology plc, a world leader in storage solutions, and Avago Technologies Limited, a leading semiconductor device supplier to the enterprise storage, wired, wireless and industrial end markets, today announced that they have entered into a definitive asset purchase agreement under which Seagate will acquire the assets of LSI's Accelerated Solutions Division (ASD) and Flash Components Division (FCD) from Avago for $450 million in cash.

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