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

Avalanche Technology Closes New $23 Million Preferred Series Investment
Tuesday, February 2, 2016
PR Newswire
Avalanche Technology, Inc., the leader in next generation memory technology, today announced it has completed a $23 million funding round. Thomvest Ventures, Vulcan Capital, Rogers Venture Partners, and VTB Capital participated in the round.

Broadcom Limited Announces Expected Completion of Business Combination Transaction Between Avago Technologies and Broadcom Corporation
Monday, February 1, 2016
GlobeNewswire
Broadcom Limited announced today that it has completed its acquisition of Avago Technologies Limited pursuant to a scheme of arrangement under Singapore law and that it will complete its acquisition of Broadcom Corporation this morning, subject to certain filings with the Office of the Secretary of State of California.

Sankalp Semiconductor Completes Acquisition of Interra Systems Design Service Business Unit
Monday, February 1, 2016
Design & Reuse
Sankalp Semiconductor, a leading semiconductor system on chip service provider, announced that they have completed the acquisition of privately-held Interra System's Design Service business, which includes their memory design, SOC verification and ASIC/EDA automation service businesses.

ChipMOS Shareholders Approve Tsinghua Investment
Friday, January 29, 2016
DIGITIMES
Shareholders of ChipMOS Technologies have approved the company's plan to sell a 25% stake to China's state-owned Tsinghua Unigroup. ChipMOS Technologies (Bermuda) has announced that the required greater than 50% of shareholders of ChipMOS Technologies (ChipMOS Taiwan) have voted in person or by proxy to approve the proposed private placement with Tsinghua Unigroup. In total, 99.3% of the shares voted were voted in favor of the proposed private placement, representing approximately 88.7% of the total shares outstanding of ChipMOS Taiwan.

Chinese Semiconductor Industry's Latest Move: Sage Micro's Low-key Acquisition of Initio
Thursday, January 28, 2016
DIGITIMES
Sage Microeletronique Corp acquired Initio Corporation on the last day of 2015. Since the second half of 2015, Chinese companies were frequently making acquisitions to integrate upstream and downstream sectors of the semiconductor industry. While the shockwaves of Tsinghua Unigroup's recent acquisitions were still rippling through the semiconductor industry, China's only solid-state storage controller chip company, Sage Microelectronique Corp., signed an agreement to acquire Initio Corporation.

ChipMOS Bermuda, ChipMOS Taiwan to Merge
Friday, January 22, 2016
DIGITIMES
ChipMOS Technologies (Bermuda) has announced plans to merge with its 58.3%-owned subsidiary ChipMOS Technologies (ChipMOS Taiwan), with ChipMOS Taiwan to be the surviving company.

Indice Semiconductor $3.00 million Fundraising. Allen Alley Published Jan 20 D Filing
Thursday, January 21, 2016
Octafinance
Indice Semiconductor submitted a form D for about $3.00 million in equity financing. This is a new filing. Indice Semiconductor was able to sell $2.15 million so far. That is 71.63 % of the round of financing. The total financing amount was $3.00 million. The fundraising form was filed on 2016-01-20. The reason for the financing was: unspecified. The fundraising still has about $850,970 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Sony to Buy Chip Firm Altair to Bolster Its IoT Business
Thursday, January 21, 2016
Times of Israel
The latest multinational to take advantage of Israeli tech is Japanese conglomerate Sony - which is buying Hod Hasharon-based Altair Semiconductors, a developer of 4G (LTE) chips for devices.

GaAs Labs Announces Termination of Merger Agreement and Tender Offer for Shares of Anadigics
Tuesday, January 19, 2016
Business Wire
GaAs Labs, LLC announced that its wholly-owned subsidiaries, Aloha Holding Company, Inc. and Aloha Acquisition Sub, Inc., pursuant to the Agreement and Plan of Merger, dated November 11, 2015, have terminated the previously announced cash tender offer to acquire all of the outstanding shares of common stock of Anadigics.

Atmel Picks Microchip Over Dialog
Monday, January 18, 2016
EE Times Asia
Atmel's board of directors accepted an unsolicited bid from Microchip Technology, terminating its prior agreement to be acquired by UK-based Dialog Semiconductor.

Microsemi Corporation Completes Acquisition of PMC-Sierra, Inc.
Friday, January 15, 2016
Design & Reuse
Microsemi Corporation, a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, announced today that Microsemi's wholly-owned subsidiary Lois Acquisition Corp. successfully merged with and into PMC-Sierra, Inc., completing Microsemi's acquisition of PMC.

Diablo Technologies Raises $19 Million to Fuel Growth and Innovation
Tuesday, January 12, 2016
PR Newswire
Diablo Technologies, a leading provider of ground-breaking memory solutions, announced that it has secured an additional $19 million in capital for its Series C Financing round. The latest round is led by new investor ICV with participation from Battery Ventures, BDC Capital, Celtic House, and Hasso Plattner Ventures. The funding will be used to further accelerate customer deployments via expansion of sales, applications support and R&D.

Amkor Technology Announces Acquisition of Remaining Shares of J-Devices
Wednesday, January 6, 2016
Business Wire
Amkor Technology Inc., a leader in semiconductor packaging, assembly and test services, today announced that on December 30, 2015, it increased its ownership interest in J-Devices Corporation from 65.7% to 100% through the exercise of previously disclosed options.

Fairchild Expected to Say China Resources Bid May Top Rival
Monday, January 4, 2016
Bloomberg Business
Fairchild Semiconductor International Inc. said a revised takeover proposal from a group led by China Resources Holdings Co. and Hua Capital Management would "reasonably be expected" to lead to a "superior" offer for the company.

Socionext Acquires Package Design Firm Bayside Design Inc.
Monday, January 4, 2016
PR Newswire
Socionext Inc. has acquired Bayside Design Inc. (BDI), a U.S.-based supplier of package design services, through Socionext America Inc. (SNA), its U.S. subsidiary. BDI started operations as a 100% owned subsidiary of SNA on January 1, 2016.

ASE Says Bid for More SPIL Shares to Take Place as Scheduled
Tuesday, December 29, 2015
DIGITIMES
Advanced Semiconductor Engineering (ASE) has maintained that its plan to buy an additional 24.71% stake in SPIL through a tender offer will be carried out as scheduled.

Official At Last: Intel Completes $16.7 Billion Buy of Altera
Monday, December 28, 2015
Fortune
Chip giant Intel has completed its $16.7 billion mega-deal to buy Altera, thus getting a big toe hold in the burgeoning market for a new type of chip that is much more flexible than the microprocessors Intel has ridden to fame and fortune.

SPIL to Evaluate ASE Acquisition Proposal
Monday, December 28, 2015
DIGITIMES
Taiwan-based Siliconware Precision Industries (SPIL) has canceled a scheduled provisional shareholder meeting to seek approval for its planned alliance with China's Tsinghua Unigroup, and agreed to evaluate a proposal submitted by rival Advanced Semiconductor Engineering (ASE) to acquire all outstanding SPIL shares in cash.

ASE Seeking to Buy Another 25% Stake in SPIL
Wednesday, December 23, 2015
DIGITIMES
Advanced Semiconductor Engineering (ASE), which has already purchased 25% shares of Siliconware Precision Industries (SPIL), has announced new plans to acquire another 25% stake in the fellow packaging and testing company.

PsiKick Raises $16.5M Series B Round to Power a Batteryless Revolution in the "Internet of Things"
Wednesday, December 23, 2015
Business Wire
PsiKick, the self-powering Internet of Things (IoT) systems company, today announces a $16.5M Series B financing, led by Osage University Partners and joined by existing investors New Enterprise Associates (NEA), the University of Michigan Investment in New Technologies Fund (MINTS), as well as individual angels. This brings total funding raised by the Company to over $22M.

Vimicro Announces Closing of Merger
Friday, December 18, 2015
PR Newswire
Vimicro International Corporation, a leading video surveillance technology and solution provider in China, announced today the completion of the merger with Vimicro China Acquisition Limited, a wholly-owned subsidiary of Vimicro China (Parent) Limited.

TDK Acquires Micronas
Thursday, December 17, 2015
Evertiq
TDK Corporation and Micronas Semiconductor Holding AG have entered into a definitive agreement pursuant to which TDK will launch an all cash public tender offer for all publicly held registered shares of Micronas for CHF 7.50 per share.

Vayyar Imaging Launches Globally; Announces $22M Series B Funding Led by Walden Riverwood
Tuesday, December 15, 2015
PR Newswire
Vayyar Imaging, the 3D-imaging sensor company whose technology makes it possible to see through objects, today announced a $22 million USD Series B funding round led by Walden Riverwood. Series A lead, Battery Ventures, and existing investors including Bessemer Venture Partners, Israel Cleantech Ventures (ICV) and Amiti Ventures also participated in the Series B round bringing the total capital raised to date to $34M USD. Vayyar Imaging will leverage the new funds to scale its enterprise offering across the globe.

MACOM Acquires Aeroflex's Diode Business from Cobham
Monday, December 14, 2015
Business Wire
M/A-COM Technology Solutions Holdings, Inc., a leading supplier of high-performance analog RF, microwave, millimeterwave and photonic semiconductor products, today announced that it has acquired 100% of Aeroflex's diode business for $38 million in cash. The business had approximately $37 million in revenue for the fiscal year ended December 31, 2014.

Micron to Acquire Inotera Remaining Shares
Monday, December 14, 2015
DIGITIMES
Micron Technology and Inotera Memories have signed an agreement for Micron to acquire Inotera's remaining shares for consideration worth NT$30 (approximately US$0.92) per share, according to the US memory chipmaker.

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