- Meeting Schedule
- Group Members
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.
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.
To develop, promote and execute expanded investment models that can be used by semiconductor start-ups to innovate and prosper.
- Invigorate semiconductor start-up investment and subsequent returns
- Enable high quality innovation
- Stimulate sustainable M&A and new IPO deal flow
- CEOs, CFOs, and senior leadership from within the entire semiconductor ecosystem, OEMs, VCs, Finance, Banking and M&A executives
- 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)
Working Group Chair
Matt Rhodes, CEO, Semitech Semiconductor
May 1, 2013
- SK Innovation Center (PDF, 1.2MB) / SK telecom Americas
Nov 7, 2012
- Capital Lite Working Group Update (PDF, 1.7 MB)
Mar 14, 2012
Jan 24, 2012
Dec 7, 2011
Oct 13, 2011
- Capital Lite Concepts, Working Group Meeting (PDF, 496 KB)
Oct 6, 2011
- Semiconductor Investment – Redefining the Funding Model (PDF, 496 KB)
Sept 13, 2011
- Capital Lite Organizational Meeting SEP 13 (PDF, 248 KB)
Sept 1, 2011
- Capital-Lite Funding Models for Semiconductor Start-ups (PDF, 587 KB)
- Semiconductor Investment Returns, 2002 – 2011 (PDF, 189 KB)
May 24, 2011
- State of VC Funding for Semiconductor Start-Ups (PDF, 689 KB)
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.
2012 Meeting Minutes
- NOV 21, 2012 Working Group Minutes (PDF)
2011 Meeting Minutes
Contact Wade Giles for membership information.
XMOS Plans Expansion on the Back of Strong Revenue Growth and New Funding
Tuesday, December 3, 2013
XMOS, the leader in multicore microcontrollers, has announced that it is planning to grow its operations worldwide in 2014 on the back of very strong revenue growth and following the addition of $14m in new equity funding from a combination of London and Silicon Valley based investors.
Fujitsu Reaches Deal With Transphorm
Wednesday, November 27, 2013
Wall Street Journal
Transphorm Inc. said it would buy rival operations of Japan's Fujitsu Ltd. as the U.S. startup furthers its pursuit of new technology for saving energy in electronic products.
WiLAN Acquires Semiconductor Patents from IXYS
Tuesday, November 26, 2013
Wi-LAN Inc. today announced that it has acquired a portfolio of semiconductor patents from IXYS CH GmbH related to microcontroller technology. WiLAN believes the portfolio has current applicability to safety-critical applications used in the aerospace, medical, industrial and automotive markets. A share of the revenue generated from licensing the acquired patents will be paid to IXYS.
Apple Agrees to $350 Million Deal for Israels PrimeSense
Sunday, November 24, 2013
Apple Inc. agreed to acquire PrimeSense Ltd., the maker of motion-tracking chip technology that was used in Microsoft Corp.s Kinect game console.
Microchip Technology Acquires EqcoLogic
Thursday, November 21, 2013
Microchip Technology Inc., a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, today announced the acquisition of EqcoLogic, an innovator in equalizer and coaxial transceiver products and technologies. EqcoLogic is a privately held, fabless semiconductor company based in Brussels, Belgium and a spin out of Vrije Universiteit Brussel. The terms of the acquisition are confidential and are expected to have no material impact on Microchips December quarter results.
Tsinghua Unigroup Acquires Spreadtrum, RDA to Compete with Qualcomm, MediaTek
Monday, November 18, 2013
China-based business group Tsinghua Unigroup has acquired China-based handset IC design houses Spreadtrum Communications and RDA Microelectronics for US$1.78 billion and US$910 million respectively in a bid to combine the latter two's technological resources to compete with Qualcomm and Taiwan-based IC design house MediaTek.
M/A-COM Technology Acquires Mindspeed Technologies for $272M
Tuesday, November 5, 2013
Boston Business Journal
Lowell, Mass.-based semiconductor company M/A-COM Technology Solutions Holdings Inc. announced Tuesday it will acquire California-based Mindspeed Technologies Inc. in a cash transaction valued at $272 million.
Anvil Gains £1m Funding to Commercialize Low-Cost SiC-in-Silicon Power Devices
Friday, November 1, 2013
Anvil Semiconductors Ltd. of Coventry, UK has secured £1m in funding to help it speed the development and commercialization of its silicon carbide (SiC)-on-silicon technology for power devices.
Qualcomm Buys Certain Assets of Arteris Tech
Friday, November 1, 2013
EE Times India
Qualcomm Technologies has bought certain technology assets of Arteris Inc., a supplier of silicon-proven commercial network-on-chip (NoC) interconnect IP solutions, for an undisclosed amount.
Microsemi to Buy Timing Specialist Symmetricom
Friday, October 25, 2013
EE Times Asia
Microsemi Corporation has announced its intent to buy Symmetricom, a company that specializes in precision time and frequency technologies, for approximately $230 million or $7.18 per share through a cash tender offer.
Invensense Buys ADI's MEMS Mic Unit
Tuesday, October 15, 2013
Invensense Inc. in San Jose, Calif. has agreed to purchase the MEMS microphone business line of Analog Devices Inc. (ADI) in Norwood, Mass. for $100 million in cash. Approximately 30 to 40 employees will move from ADI to Invensense as a result of the acquisition, but will remain in the Massachusetts area. Also remaining in place will be the MEMS microphone support operations in Bratislava, Slovakia and Shanghai, China.
Synaptics Acquires Fingerprint ID Provider
Wednesday, October 9, 2013
The Motley Fool
The fast-growing biometrics market, which includes fingerprint ID solutions for smartphones and other wireless devices, has "long been of interest" to Synaptics according to its president and CEO, Rick Bergman, and is the basis for today's announcement that Synaptics will acquire Validity Sensors for $92.5 million in stock and cash.
Integra Technologies Announces the Purchase of Analytical Solutions Inc.
Tuesday, October 1, 2013
Integra Technologies, a world leader in integrated circuit test and related services, announced today that it has acquired Analytical Solutions Incorporated (ASI). Analytical Solutions provides product evaluation services through Destructive Physical Analysis, Construction Analysis, Failure Analysis, Non-Destructive Testing and Counterfeit Device Investigation of semiconductor devices.
Intel to Take Over Bankrupt Micron Plant in Israel
Monday, September 30, 2013
Intel will take over a plant in Israel's Kiryat Gat city after it was shut down by the US microchip manufacturer Micron in a bid to save 800 jobs, it was announced Sunday.
Applied Optoelectronics Sets 3.6 Mln Shares IPO Pricing At $10/Shr - Quick Facts
Thursday, September 26, 2013
Applied Optoelectronics, Inc., a provider of fiber-optic access network products, has priced its initial public offering of 3.6 million shares at $10.00 per share before underwriting discounts.
Montage Technology Prices IPO at $10, Below the Range
Wednesday, September 25, 2013
Montage Technology Group, a China-based fabless provider of chips for set-top boxes and memory computing, raised $71 million by offering 7.1 million shares at $10, below the range of $12 to $14.
New Chinese Owners Finish Taking MEMSIC Private
Wednesday, September 18, 2013
Boston Business Journal
The final stock price for Memsic Inc. was $4.22 a share, as the Andover, Mass.-based semiconductor company went private and saw its last day of trading on the Nasdaq on Tuesday.
Applied Optoelectronics Sets Terms of IPO
Wednesday, September 11, 2013
Houston Business Journal
Applied Optoelectronics Inc., a Sugar Land-based fiber-optics communications products company, set the terms of its initial public offering Wednesday.
China-based Semiconductor Company Montage Technology Sets Terms for $92 Million IPO
Wednesday, September 11, 2013
Montage Technology Group, a China-based fabless provider of analog and mixed-signal chips for set-top boxes, announced terms for its IPO on Wednesday.
eASIC Raises $23.5M of Growth Capital
Monday, September 9, 2013
eASIC Corporation, a leading provider of Single Mask Adaptable ASIC devices today announced that it has closed a $23.5M growth capital financing. The funding includes investment from Khosla Ventures, Kleiner Perkins Caufield and Byers, Crescendo Ventures, Seagate Technology and Evergreen Partners.
Broadcom to Buy LTE assets From Renesas Electronics
Wednesday, September 4, 2013
Mobile chipmaker Broadcom said it is buying Japanese chipmaker Renesas Electronics' LTE-related assets for $164 million to speed up its launch of next-generation communications technology.
Micrel Expands Timing, MEMS Line with Discera Buy
Wednesday, September 4, 2013
EE Times Asia
Micrel Inc. has signed a definitive agreement to acquire Discera Inc., a provider of silicon timing solutions. The deal is geared to boost Micrel's high performance clock and timing products, as well as expand its MEMS capabilities. The transaction is expected to close in September of 2013.
ARM Acquires Advanced Display Technology from Cadence
Monday, September 2, 2013
ARM, the leading semiconductor IP supplier and Cadence Design Systems, Inc., a leader in global electronic design innovation, today announced that the companies have signed a definitive agreement for the sale and transfer of Cadence PANTA display controller cores to ARM. The agreement enhances the companies long-standing ecosystem collaboration and strengthens their technical alignment.
China-based Semiconductor Company Montage Technology Files for a $115 Million IPO
Wednesday, August 21, 2013
Montage Technology Group, a China-based fabless provider of analog and mixed-signal semiconductor solutions for set-top boxes, filed on Wednesday with the SEC to raise up to $115 million in an initial public offering.
Ambiq Micro Collects $10M to Develop Ultra-Low-Power Chips
Tuesday, August 20, 2013
Austin Business Journal
Texas-based technology startup Ambiq Micro Inc. has completed a $10 million Series B funding round to create a very low-power chip that will extend the battery life for portable products, company officials said Tuesday.