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

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).

ChipMOS Taiwan, Thailin to Merge
Thursday, November 13, 2014
DIGITIMES
ChipMOS Technologies (Bermuda) announced on November 12 that its board of directors has approved a plan to merge its subsidiaries ChipMOS Taiwan and Thailin Semiconductor. The board of directors at both subsidiaries have also approved the merger, with the respective subsidiaries having now entered into a merger agreement.

Indice Semiconductor, Maker Of Energy-Saving Chips, Raises $6M Series A
Wednesday, November 12, 2014
TechCrunch
Indice Semiconductor has raised a $6 million Series A to focus on marketing its chips, which use an algorithm that the company says can help appliances save energy. The round was led by Allen Alley, the co-founder and former CEO of Pixelworks and included participation from Australian venture capital firm rampersand.

Cavendish Kinetics Secures Funding to Accelerate the Growth of RF MEMS Market
Tuesday, November 11, 2014
MarketWatch
Cavendish Kinetics, the leading provider of high-performance RF MEMS tuning solutions for mobile and wearable devices, today announced the closing of a $7 million funding round as well as the appointment of Gilles Delfassy to its board of directors. The round was co-led by Tallwood Venture Capital and Wellington Partners, with participation from Qualcomm Ventures and other existing investors.

Ineda Systems Secures Additional Series B Funding
Tuesday, November 11, 2014
Business Wire
Ineda Systems, a developer of low-power SoCs (system on a chip) for use in the fast-growing wearables and Internet of Things market segment, today announced additional funding from Cisco Investments to bring the round of Series B funding to a total of $19M.

Ambiq Micro Announces $15 Million Funding Round Led by Kleiner Perkins Caufield & Byers
Monday, November 10, 2014
Business Wire
Ambiq Micro, a leader in ultra-low power integrated circuits for power-sensitive applications, today announced that is has closed a $15 million Series C funding round.

China Firm in Talks to Buy STATS ChipPAC
Friday, November 7, 2014
DIGITIMES
Jiangsu Changjiang Electronics Technology has made a non-binding proposal to STATS ChipPAC to acquire all the shares in STATS ChipPAC on a fully diluted basis for an aggregate purchase price of US$780 million, STATS ChipPAC announced on November 6.

Silicon Turnkey Solutions Joins Micross Components
Thursday, November 6, 2014
PRWeb
Insight Equity Holdings LLC, the Southlake, Texas private equity firm, is pleased to announce that one of its portfolio companies, Micross Components, has acquired Silicon Turnkey Solutions (STS). STS has been a leader in the high-reliability semiconductor test sector for over a decade, offering Integrated Circuit design, packaging, qualification, and testing for the most extreme applications.

Korean Semiconductor Firm Sets IPO Price
Wednesday, November 5, 2014
ABS-CBN
South Korean-owned Phoenix Semiconductor Philippines Corp. has set the final offer price for its maiden share sale at P3.15 per share.

Peraso Technologies Racks Up $20 Mln
Thursday, October 30, 2014
peHUB
Peraso Technologies Inc., a leader in Wireless Gigabit (WiGig®) chipsets, announced today that it has closed a $20 million funding round. The oversubscribed round was led by new investor Roadmap Capital, with additional financing from existing investors Celtic House Venture Partners, Ontario Emerging Technologies Fund (OETF) and VentureLink Funds.

SiTime to be Acquired by MegaChips for $200M
Tuesday, October 28, 2014
Business Wire
SiTime Corporation, a MEMS and analog semiconductor company, today announced that it has signed a definitive agreement under which MegaChips Corporation, a top 25 fabless semiconductor company based in Japan, will acquire SiTime for $200 million in cash. This transaction combines two complementary fabless semiconductor leaders that provide solutions for the growing Wearables, Mobile and Internet of Things markets.

PointGuard Ventures and Morningside Invest $13M in InSilixa's Semiconductor-Based Molecular Diagnostics Technology
Wednesday, October 22, 2014
Business Wire
PointGuard Ventures, a Silicon Valley venture capital firm, and Morningside, a privately-held investment group, announced today that they are leading a $13M financing round for InSilixa, Inc., a new Sunnyvale, California-based molecular diagnostic (MDx) platform developer.

IBM to Pay Globalfoundries $1.5 Billion to Take Chip Unit
Monday, October 20, 2014
Reuters
IBM Corp said it would hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc to focus on cloud computing and big data analytics. IBM will pay Globalfoundries $1.5 billion in cash over the next three years to take the chip operations off its hands, the companies said in a statement on Monday.

SiPaaS the Chips: Semiconductor Company VeriSilicon Holdings Files for a $75 Million IPO
Friday, October 17, 2014
Renaissance Capital
VeriSilicon Holdings, a China-based outsourcer of semiconductor design and development solutions, filed on Friday with the SEC to raise up to $75 million in an initial public offering.

Litho Options Sparse After 10nm
Thursday, October 16, 2014
Semiconductor Engineering
With EUV's viability still uncertain, multi-patterning may be the cheapest option at 7nm. Beyond that, 3D architectures could be a game changer. Leading-edge foundries are ramping up their 16nm/14nm logic processes, with 10nm and 7nm in R&D. Barring a major breakthrough in Lithography [KC], chipmakers will use 193nm immersion and multiple patterning for both 16nm/14nm and 10nm.

Blu Wireless Technology Confirms New $3.7m Investment
Wednesday, October 15, 2014
Design & Reuse
60GHz wireless specialist, Blu Wireless has closed a $3.7m funding round lead by a major international customer intending to exploit the company's HYDRA baseband System IP for new 60GHz applications in 2016. The investment included $0.7m follow-on funding from existing investors.

U.S. Chipmaker Qualcomm Hopes for Knock-Out Blow with $2.5 Billion CSR Bid
Wednesday, October 15, 2014
Reuters
U.S. Qualcomm Inc agreed to buy CSR Plc for $2.5 billion, offering what it hopes is a knock-out blow to win the British Bluetooth specialist which is growing in areas like automotive and wearable devices.

Awaiting SEC Go-Ahead, Phoenix Signals an IPO in Nov.
Sunday, October 12, 2014
BusinessWorld
Phoenix Semiconductor Philippines Corp. (PSPC), a unit of a South Korea's STS Semiconductor & Telecommunications Co. Ltd., said it is awaiting the regulator's permission to announce the exact date of its initial public offering (IPO) sometime in November.

Alien Technology Raises $35M to Make RFID Tags for the Internet of Things
Thursday, October 9, 2014
VentureBeat
Alien Technology has raised $35 million in a new round of funding to expand production of its radio frequency identification (RFID) tags and readers, which enable the Internet of things. The chip maker has also named Chris Chang as its new chief executive.

Hua Hong Prices IPO Towards Bottom
Thursday, October 9, 2014
FinanceAsia
Chinese foundry manufacturer Hua Hong Semiconductor priced its 228.7 million initial public offering towards the bottom end of its price range on Thursday. The Goldman Sachs-led deal raised HK$2.57 billion ($330 million) pre-greenshoe after pricing was fixed at HK$11.25.

IntelliEPI Buys Soitec's GaAs Business
Monday, September 29, 2014
Electronics360
Intelligent Epitaxy Technology Inc. has acquired the gallium arsenide (GaAs) epitaxy business from Soitec in an effort to broaden its GaAs penetration into other applications.

Intel and Tsinghua Unigroup Collaborate to Accelerate Development and Adoption of Intel-based Mobile Devices
Friday, September 26, 2014
Business Wire
Intel Corporation and Tsinghua Unigroup Ltd. today jointly announced that both parties have signed a series of agreements. The purpose of the agreements is to expand the product offerings and adoption for Intel-based mobile devices in China and worldwide by jointly developing Intel Architecture and communications-based solutions for mobile phones. Intel also has agreed to invest up to RMB 9 billion (about US$1.5 billion) for a minority stake of approximately 20 percent of the holding company under Tsinghua Unigroup which will own Spreadtrum Communications and RDA Microelectronics, subject to regulatory approvals and other closing conditions.

Huawei Buys Neul for IoT Thrust
Wednesday, September 24, 2014
Electronics360
Global telecom equipment giant Huawei Technologies Co. Ltd. has bought UK internet-of-things (IoT) company Neul Ltd. (Cambridge, England) for a sum reported to be $25 million.

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