- 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
O 972.866.7579 x116
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
| Meeting: | Technology Steering Committee – Working Group Presentation |
| Presentation: | SK Innovation Center (PDF, 1.2MB) |
| Date: | May 1, 2013 |
| Location | Open-Silicon; Milpitas, CA |
| Meeting: | Technology Steering Committee – Working Group Review |
| Presentations: | Capital Lite Working Group Update (PDF, 1,779 KB) |
| Date: | November 7, 2012 |
| Location | Cavium, San Jose, CA |
| Meeting: | Capital Lite Working Committee Meeting |
| Presentations: | Capital Lite Resource Portal (PDF, 664 KB) Silicon Ventures (PDF, 476 KB) |
| Date: | March 14, 2012 |
| Location | Pillsbury Winthrop Shaw Pittman LLP; Palo Alto, CA |
| Meeting: | Capital Lite Working Committee Meeting |
| Presentation: | Deliverables Update |
| Date: | January 24, 2012 |
| Location | Pillsbury Winthrop Shaw Pittman LLP; Palo Alto, CA |
| Meeting: | Capital Lite Working Committee Meeting |
| Presentations: | Next Steps (PDF, 300 KB) TSMC (PDF, 3 MB) |
| Date: | December 7, 2011 |
| Location | Pillsbury Winthrop Shaw Pittman LLP; Palo Alto, CA |
| Meeting: | Capital Lite Working Committee Meeting |
| Presentation: | Capital Lite Concepts, OCT 13 Working Group Meeting (PDF, 496 KB) |
| Date: | October 13, 2011 |
| Location | Pillsbury Winthrop Shaw Pittman LLP; Palo Alto, CA |
| Meeting: | GSA Semiconductor Ecosystem Summit |
| Presentation: | Semiconductor Investment – Redefining the Funding Model (PDF, 496 KB) |
| Date: | October 6, 2011 |
| Location | Santa Clara Convention Center |
| Meeting: | Capital Lite Working Group Organizational Meeting |
| Presentation: | Capital Lite Organizational Meeting SEP 13 (PDF, 248 KB) |
| Date: | September 13, 2011 |
| Location | Pillsbury Winthrop Shaw Pittman LLP; Palo Alto, CA |
| Meeting: | Funding for Semiconductor Start-ups |
| Presentation: | Capital-Lite Funding Models for Semiconductor Start-ups (PDF, 587 KB) |
| Date: | September 1, 2011 |
| Location | Pillsbury Winthrop Shaw Pittman LLP; Palo Alto, CA |
| Meeting: | Funding for Semiconductor Start-ups |
| Presentation: | Semiconductor Investment Returns, 2002 – 2011 (PDF, 189 KB) |
| Date: | September 1, 2011 |
| Location | Pillsbury Winthrop Shaw Pittman LLP; Palo Alto, CA |
| Meeting: | The State of VC Funding for Semiconductor Start-Ups |
| Presentation: | State of VC Funding for Semiconductor Start-Ups (PDF, 689 KB) |
| Date: | May 24, 2011 |
| Location | Pillsbury Winthrop Shaw Pittman LLP; Palo Alto, CA |
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
- NOV 21, 2012 Working Group Minutes (PDF)
2011 Meeting Minutes
- DEC 7, 2011 Working Group Minutes (PDF)
- OCT 13, 2011 Working Group Minutes (PDF)
- JUN 7, 2011 Working Group Minutes (PDF)
- MAY 24, 2011 Working Group Minutes (PDF)
News
Matrix and Pilot House-backed Qualtre Lands New Round of Funding
Monday, May 20, 2013
Boston Business Journal
Nearly two years after it landed an $10 million round of funding, motion sensor maker Qualtre Inc. has secured more funds, bringing the total amount raised to $26 million.
ASE to Buy Toshiba Backend Plant in China
Thursday, May 16, 2013
DIGITIMES
IC packager Advanced Semiconductor Engineering (ASE) announced on May 15 that the company has reached a deal with Toshiba Semiconductor (Wuxi) in China to acquire its chip assembly and test plant for CNY70 million (US$11.4 million).
Mellanox Technologies Announces Definitive Agreement to Acquire Kotura
Wednesday, May 15, 2013
Scientific Computing
Mellanox Technologies, a supplier of end-to-end interconnect solutions for servers and storage systems, announced its intent to acquire privately held Kotura, a leading innovator and developer of advanced silicon photonics optical interconnect technology for high-speed networking applications. Mellanox and Kotura have signed a definitive agreement under which Mellanox will acquire Kotura at a total cash purchase price of approximately $82 million subject to certain adjustments. The terms of the transaction have been unanimously approved by both the Mellanox and Kotura boards of directors.
Altera to Buy Enpirion for On-Chip Power Conversion
Tuesday, May 14, 2013
EE Times Design
Altera Corp. has agreed to acquire Enpirion Inc., a vendor of integrated power conversion products known as PowerSoCs (power system-on-chip), for an undisclosed sum.
Teledyne Acquires Axiom IC
Monday, May 13, 2013
Business Wire
Teledyne Technologies Incorporated announced today that its subsidiary, Teledyne DALSA B.V., has acquired Axiom IC B.V., a fabless semiconductor company that develops high-performance CMOS mixed-signal integrated circuits. Terms of the transaction were not disclosed.
Cadence to Acquire IP Business of Evatronix, Further Expanding IP Portfolio
Tuesday, May 7, 2013
Marketwired
Cadence Design Systems, Inc. today announced its intent to acquire the IP business of Evatronix SA SKA, adding to its rapidly expanding IP offering. Based in Poland, Evatronix delivers a silicon-proven IP portfolio, which includes certified USB 2.0/3.0, Display, MIPI, and storage controllers, which are highly complementary to Cadence's IP offering.
NXP Buys MCU Tools Vendor for Software Future
Friday, May 3, 2013
EE Times Design
NXP Semiconductors NV has bought embedded software tools development tools vendor Code Red Technologies Inc. for an undisclosed amount of money.
Chipbond to Buy COF Substrate Supplier
Thursday, May 2, 2013
DIGITIMES
Chipbond Technology has said it will acquire Simpal Electronics, a Taiwan-based COF substrate supplier, through a share swap.
Spansion to Buy Fujitsu Microcontrollers for $110 Million
Tuesday, April 30, 2013
Bloomberg News
Spansion Inc., a producer of flash memory for electronics systems, agreed to buy Fujitsu Ltd.s microcontroller operations for $110 million to gain the chipmakers employees, intellectual property and products.
MEMSIC to be Acquired by IDG-Accel China Capital II, L.P. and Affiliates
Tuesday, April 23, 2013
Business Wire
MEMSIC, Inc., a leading MEMS solution provider, today announced that it has agreed to be acquired by IDG-Accel China Capital II, L.P. and its affiliates MZ Investment Holdings Limited and MZ Investment Holdings Merger Sub Limited (collectively, IDG), for $4.225 per share in cash.
ABB to Buy Power-One for $1 Billion
Monday, April 22, 2013
NY Times
The Swiss engineering company ABB agreed on Monday to buy the American renewable energy firm Power-One for $1 billion.
ChipMOS Subsidiary Begins Trading on Taiwan Emerging Stock Board
Monday, April 22, 2013
DIGITIMES
ChipMOS Taiwan, a subsidiary of semiconductor assembly and test services provider ChipMOS Technologies, on April 19 started trading on the Emerging Stock Board of the Taiwan Stock Exchange (TSE). On its first day of trading, its share price rallied more than 90% to close at NT$40 (US$1.34).
Avago Buys Power Amp Company Javelin
Friday, April 19, 2013
The Wall Street Journal
Javelin Semiconductor Inc., one of the first companies to bring standard silicon designs to mobile-phone amplifiers, has been acquired by Avago Technologies Ltd. (AVGO).
Netronome Lands $19M
Thursday, April 18, 2013
Pittsburgh Business Times
Fabless semiconductor maker Netronome nabbed $19 million in Series E funding, led by existing investor DFJ Esprit.
Microbattery Firm Recharges with $20 Million
Wednesday, April 17, 2013
EE Times Design
Cymbet Corp. (Elk River, Minn.), a vendor of lithium-ion microbatteries made using semiconductor manufacturing methods, has completed a recapitalization of the company through a $20 million investment led by Island Shore Investments (ISI).
ChipMOS Subsidiary Approved for Listing on Taiwan Stock Market
Tuesday, April 16, 2013
DIGITIMES
The Taiwan Stock Exchange (TSE) has approved the listing application of ChipMOS Taiwan, a subsidiary of semiconductor assembly and test services provider ChipMOS Technologies.
GEO Semiconductor Completes $13 Million in Additional Equity Funding
Tuesday, April 16, 2013
The Wall Street Journal
GEO Semiconductor Inc., the industry leader in high performance, geometric processing and CODEC video processing solutions, today announced that it has completed a $13 million funding consisting of convertible debt and preferred equity financing from existing and new shareholders, including Panasonic Corporation.
Altera Expands OTN Solution Capabilities with Acquisition of TPACK
Monday, April 15, 2013
Company Release
Altera Corporation today announced it has agreed to acquire TPACK, a wholly-owned subsidiary of Applied Micro Circuits Corporation. TPACK delivers complete FPGA-based OTN (optical transport network) products targeting packet and optical networking equipment suppliers.
Avago Agrees to Acquire CyOptics for $400 Million in Cash
Thursday, April 11, 2013
Bloomberg News
Avago Technologies Ltd. (AVGO), a supplier of components for wireless communications, agreed to acquire optical-chip maker CyOptics Inc. (CYOP) for about $400 million in cash.
Quantance Raises $12 Million Series D Funding to Ramp Up Mass Market Production and Expand Fast Power Supply Technology
Thursday, April 11, 2013
PR Newswire
Quantance Inc., manufacturer of ultra-fast, 4G/LTE envelope tracking (ET) power supplies, today announced it has raised $12 million in Series D funding. Investors include TD Fund, Granite Ventures, InterWest Partners and DoCoMo Capital.
ProMOS, Globalfoundries Agree on Sale of 12-inch Fab Equipment
Thursday, March 28, 2013
DIGITIMES
Taiwan-based ProMOS Technologies announced on March 28 that the company has agreed with Globalfoundries on the sale of more than 1,000 items of production equipment installed at its 12-inch wafer fab in Taichung, Central Taiwan. Financial terms were not disclosed.
IC Design House Aspeed to Debut on OTC Securities Market in April
Tuesday, March 26, 2013
DIGITIMES
Taiwan-based fabless IC design house Aspeed Technology will debut on Taiwan's over-the-counter (OTC) securities market in the second half of April with an initial offering price tentatively set at NT$96 (US$3.22), according to market sources.
Diablo Technologies Expands Financing Round to $36M
Tuesday, March 19, 2013
peHUB Canada
Diablo Technologies Inc., an Ottawa, Ontario-based maker of memory system interface products, has raised C$7.5 million in additional financing, expanding its latest venture capital round to C$36 million. The new funds include a first-time investment from U.S. Venture Partners (USVP), with USVP partner Chris Rust joining Diablos board of directors. Additional funds came from the companys existing investors, which include Battery Ventures, BDC Venture Capital, Celtic House Venture Partners and Hasso Plattner Ventures.
Renesas Electronics Reaches a Definitive Agreement to Transfer its Subsidiaries Back-End Facilities and Others to J-Devices
Tuesday, March 19, 2013
Business Wire
Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, today announced that Renesas and J-Devices Corporation signed a definitive agreement to transfer Renesas subsidiaries back-end facilities and others to J-Devices following a Memorandum of Understanding which was announced on January 30, 2013 in the news release Renesas Electronics and J-Devices Sign Memorandum of Understanding on Transfer of Back-End Facilities.
Korea FTC OKs MediaTek, MStar Merger
Monday, March 18, 2013
DIGITIMES
South Korea's antitrust agency Fair Trade Commission (FTC) has approved MediaTek's proposal to merge with MStar Semiconductor, according to the companies.
