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

Cypress Proposes Buying ISSI at Price Above Summitview Deal
Wednesday, May 13, 2015
NASDAQ
Cypress Semiconductor Corp. is interested in buying Integrated Silicon Solution Inc. at a higher price than ISSI's pending $640 million deal with a Chinese consortium.

Blue Danube Systems Raises $16 Million in Series B Funding
Tuesday, May 12, 2015
Business Wire
Blue Danube Systems, a provider of mobile wireless access solutions that significantly and cost-effectively increase network capacity and enhance quality of service, today announced that it closed $16 million in Series B funding.

AAC Technologies Acquires WiSpry
Monday, May 11, 2015
Business Wire
AAC Technologies Holdings Inc., a world-leading miniature technologies solution provider, announced the completion of its acquisition of WiSpry, Inc.

GaN Systems Raises USD$20 Million in Series C Financing
Friday, May 8, 2015
Business Wire
GaN Systems Inc., the leading developer of gallium nitride power switching semiconductors, today announced a USD$20 Million venture capital financing.

Microchip to Buy Rival Analog Chipmaker Micrel for $839 Million
Thursday, May 7, 2015
Bloomberg
Microchip Technology Inc., a maker of analog chips, said it will buy rival Micrel Inc. for $14 a share, adding more of the basic building blocks of electronics to its offerings.

MediaTek Subsidiary Completes Acquisition of Alpha
Tuesday, May 5, 2015
DIGITIMES
MStar Semiconductor has completed its acquisition of fellow IC design company Alpha Imaging Technology, according to a MediaTek filing with the Taiwan Stock Exchange (TSE).

Knowles to Acquire Audience
Thursday, April 30, 2015
Business Wire
Knowles Corporation, a market leader and global supplier of advanced micro-acoustic solutions and specialty components, today announced it has entered into a definitive agreement to acquire Audience, Inc.

MaxLinear Completes Acquisition of Entropic
Thursday, April 30, 2015
Globe Newswire
MaxLinear, Inc., a leading provider of integrated radio frequency and mixed-signal integrated circuits, today announced that it has completed its previously announced acquisition of Entropic Communications, Inc.

OmniVision to be Acquired by Hua Capital Management, CITIC Capital and GoldStone Investment for $29.75 per share in Cash
Thursday, April 30, 2015
Design & Reuse
OmniVision Technologies, Inc., a leading developer of advanced digital imaging solutions, today announced that it has entered into a definitive agreement to be acquired by a consortium composed of Hua Capital Management Co., Ltd., CITIC Capital Holdings Limited, and GoldStone Investment Co., Ltd.

Media Alert: ARM Announces Acquisition of Wicentric and Sunrise Micro Devices
Thursday, April 16, 2015
Business Wire
ARM today announced the acquisition of Wicentric, a Bluetooth® Smart stack and profile provider, and Sunrise Micro Devices (SMD), a provider of sub-one volt Bluetooth radio intellectual property (IP).

Movidius Raises $40 Million in Funding to Accelerate Adoption of Visual Sensing in the Internet of Things
Tuesday, April 14, 2015
MarketWired
Movidius, the leading vision processor company serving the growing need for visual sensing in connected devices, today announced that it has raised $40 million in new funding.

MStar to Acquire Alpha for NT$37 Per Share
Thursday, April 9, 2015
DIGITIMES
Eyeing IoT and image sensor chip business opportunities, MStar Semiconductor plans to acquire Alpha Imaging Technology for a total of NT$2.07 billion (US$66.37 million).

Intel Targets Smartglasses with Swiss Start-Ups Buyout
Tuesday, April 7, 2015
EE Times Asia
Intel Corp. is on a buying spree. The x86 giant has acquired two start-ups: Lemoptix SA, a provider of scanning micromirror technology, and Composyt Light Labs SA, known for developing a see-through display.

Solantro Semiconductor Raises $11 Million to Accelerate Manufacturing
Tuesday, April 7, 2015
Ottawa Business Journal
Ottawa's Solantro Semiconductor Corp. announced Tuesday it has landed $11 million in series-B financing.

TTTech Raises 50 Million Euros to Scale its Robust Network Solutions for the Industrial Internet of Things and Autonomous Driving Cars
Wednesday, March 25, 2015
Business Wire
Today TTTech announced a 50 million euro investment round involving two new key strategic partners: General Electric (GE Ventures) and Infineon Technologies AG. This funding is backed by the strong commitment of the existing shareholders, led by premium car maker AUDI AG.

Silvaco Acquires Invarian to Accelerate Adoption of Concurrent Power-Voltage-Thermal Analysis
Thursday, March 19, 2015
Marketwired
Silvaco, Inc. today announced that it has acquired Invarian, Inc., a recognized leader in block-level to full-chip sign-off analysis for complex, high-performance integrated circuits.

Everlight and Edison Opto Deny Merge Rumor
Wednesday, March 18, 2015
LEDinside
Representatives from Everlight and Edison Opto have recently rebutted an earlier Digitimes report claiming the two companies were in acquisition talks.

Microsemi Corporation to Acquire Vitesse Semiconductor Corporation
Wednesday, March 18, 2015
PR Newswire
Microsemi Corporation, a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, and Vitesse Semiconductor Corporation, jointly announced today that Microsemi has entered into a definitive agreement to acquire Vitesse for $5.28 per share through a cash tender offer, representing a premium of 32 percent based on the average closing price of Vitesse's shares of common stock during the 30 trading days ended March 17, 2015. The board of directors of Vitesse unanimously recommends that Vitesse's stockholders tender their shares in the tender offer. The total transaction value is approximately $389 million.

Spansion, Cypress Close $5B Merger
Monday, March 16, 2015
EE Times
Cypress Semiconductor and Spansion have finalised their merger in an all-stock, tax-free transaction valued at about $5 billion. In a recent meeting, Cypress shareholders have approved the issuance of 2.457 shares of Cypress stock to Spansion shareholders for each Spansion share they own.

ISSI Enters Into A Definitive Merger Agreement To Be Acquired By Consortium For $19.25 Per Share
Thursday, March 12, 2015
PR Newswire
Integrated Silicon Solution, Inc. , a global fabless semiconductor company, and a Chinese consortium of investors led by Summitview Capital (the "Consortium"), today jointly announced that they have entered into a definitive merger agreement under which the Consortium will acquire all of the outstanding shares of ISSI for US$19.25 per share in cash.

Silicon Line GmbH Closes an Investment Round of 6.3 Million Euro
Thursday, March 12, 2015
Business Wire
Silicon Line GmbH today announced that the Company successfully raised Euro 6.3 M from new and existing investors, Limburgse Reconversie Maatschappij NV, Hasselt Belgium, MVP Fund I and II GmbH & Co. KG, Munich, and Capital-E I and II Arkiv Comm. V.A, Antwerp.

TSMC Affiliate Xintec to List on OTC in End-March, Says Report
Thursday, March 12, 2015
DIGITIMES
Image sensor packaging house Xintec, an affiliate of Taiwan Semiconductor Manufacturing Company (TSMC), will list on Taiwan's over-the-counter (OTC) stock market at the end of March 2015, according to a recent Chinese-language Apple Daily report.

Semtech Announces Acquisition of Triune Systems
Wednesday, March 4, 2015
Business Wire
Semtech Corporation, a leading supplier of analog and mixed-signal semiconductors, today announced that it has completed the acquisition of Triune Systems, L.L.C., a privately-held supplier of wireless charging and power management platforms targeted at high and low power, high efficiency applications.

Brite Semiconductor Secures Series C Round of Finance from Norwest Venture Partners, Gobi Partners and China-based Foundry SMIC
Tuesday, March 3, 2015
Design & Reuse
Brite Semiconductor, an emerging ASIC design services firm headquartered in Shanghai, China, announced today it has raised $8 million in a Series C round of funding led by Norwest Venture Partners, Gobi Partners, and Semiconductor Manufacturing International Corporation.

Mentor Graphics Acquires Tanner EDA
Tuesday, March 3, 2015
PR Newswire
Mentor Graphics Corp. today announced it has acquired the business assets of Tanner EDA, a leading tool provider for the design, layout and verification of analog/mixed-signal (AMS) and MEMS integrated circuits. W

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