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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

Ardentec to Complete Acquisition of Giga Solution in 3Q17
Friday, March 24, 2017
DIGITIMES
Taiwan-based Ardentec, which holds a 63.84% stake in RFIC testing specialist Giga Solution Tech, is buying Giga Solution's remaining shares with the acquisition scheduled to complete in the third quarter of 2017.

Israel's Autotalks Raises $30 Million in Funding
Wednesday, March 22, 2017
Times of Israel
Autotalks, an Israeli semiconductor company that makes vehicle-to-vehicle (V2V) communication systems for use in autonomous driving cars, said it completed a Series D round of funding, raising $30 million, to expand its worldwide operations and accelerate sales of its products that it says will enable safer and smarter autonomous vehicles.

Peregrine Semiconductor Acquires Arctic Sand Technologies
Monday, March 20, 2017
Solid State Technology
Peregrine Semiconductor Corp., a Murata company and the founder of RF SOI (silicon on insulator), announced its acquisition of Arctic Sand Technologies. An MIT spin-off, Arctic Sand designs and manufactures low-power semiconductors for use in DC-DC power conversion applications. This strategic acquisition will accelerate Murata's vision to revolutionize power electronics with the world's smallest, most efficient power solutions.

CPU IP Provider Andes Sees Shares Soar on TSE Debut
Wednesday, March 15, 2017
DIGITIMES
Taiwan-based CPU IP provider Andes Technology, of which MediaTek holds a 15% stake, saw its share price soar by 191.09% to close at NT$189.50 (US$6.14) from the initial price of NT$65.10 during its debut on the Taiwan Stock Exchange (TSE) on March 14.

Innovium Raises $38.3M in Oversubscribed Series C Funding and Announces Advisory Board
Tuesday, March 14, 2017
Business Wire
Innovium, Inc. a provider of networking silicon solutions for data centers, announced that it has raised $38.3 million in Series C funding from new lead investor, Redline Capital, new strategic investors and existing investors Greylock Partners, Walden Riverwood Ventures, Capricorn Investment Group, Qualcomm Ventures and S-Cubed Capital.

Intel to Buy Driverless Technology Firm Mobileye for $15.3 Billion
Monday, March 13, 2017
Reuters
U.S. chip giant Intel has agreed to buy Israeli driverless technology firm Mobileye for $15.3 billion, the largest ever acquisition of an Israeli high-tech company.

Analog Devices Completes Acquisition of Linear Technology
Friday, March 10, 2017
Business Wire
Analog Devices, Inc. announced the completion of its acquisition of Linear Technology Corporation. The combination creates the premier analog technology company with the industry's most comprehensive suite of high-performance analog offerings and integrated engineering, manufacturing, sales and support operations that will accelerate innovation and revenue growth opportunities.

X-Fab Aims to Raise $530M in Paris IPO
Thursday, March 9, 2017
EE Times Asia
Chipmaker X-Fab Silicon Foundries is looking to raise money via an initial public offering (IPO) to fund its global expansion.

Cypress Closes Sale of Minnesota Wafer Fabrication Facility
Wednesday, March 1, 2017
Design & Reuse
Cypress Semiconductor Corp. announced it has sold the subsidiary that owns its semiconductor wafer fabrication facility in Bloomington, Minnesota to SkyWater Technology Foundry for $30 million.

Blu Wireless Technology Secures Backing From ARM
Wednesday, February 22, 2017
Design & Reuse
Blu Wireless Technology Ltd., a supplier of semiconductor and system IP for millimetre wave (mmWave) and high bandwidth wireless communications markets, has received a significant investment from ARM and other strategic and private investors.

Wireless Telecom Group Announces Acquisition of CommAgility, Ltd.
Tuesday, February 21, 2017
Business Wire
Wireless Telecom Group, Inc., a leader in advanced wireless communications solutions, announced it has acquired CommAgility, Ltd., a privately-held developer of embedded signal processing and RF modules, LTE PHY/stack software for 4G/5G mobile networks and related applications.

Cree Announces Termination of Wolfspeed and Infineon Sale Transaction
Thursday, February 16, 2017
Business Wire
Cree, Inc., a market leader in LED lighting, announced that it will terminate the definitive agreement to sell its Wolfspeed Power and RF division, which includes the silicon carbide substrate business for power, RF and gemstone applications, to Infineon Technologies AG. Cree and Infineon have been unable to identify alternatives which would address the national security concerns of the Committee on Foreign Investment in the United States (CFIUS), and as a result, the proposed transaction will be terminated.

IDT to Acquire GigPeak for $3.08 per Share
Monday, February 13, 2017
Marketwired
Integrated Device Technology, Inc. (IDT) and GigPeak, Inc. announced that they have signed a definitive agreement for IDT to acquire GigPeak, Inc., for total cash consideration of $3.08 per share, or approximately $250 million in cash.

Qualcomm Extends Deadline for NXP Purchase Offer
Tuesday, February 7, 2017
DIGITIMES
Qualcomm has announced that it has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors.

Amkor Technology to Acquire NANIUM
Thursday, February 2, 2017
Business Wire
Amkor Technology, Inc. and NANIUM S.A. announced that they have entered into a definitive agreement for Amkor to acquire NANIUM, a world class provider of wafer-level fan-out (WLFO) semiconductor packaging solutions.

Telit Adds Wi-Fi and Low-Power Solutions for IoT with Acquisition of GainSpan to Extend End-to-End IoT Solutions Reach
Wednesday, February 1, 2017
Design & Reuse
Telit, a global enabler of the Internet of Things (IoT), announced that it has agreed to acquire Silicon Valley-based GainSpan Corporation.

MACOM Successfully Completes Acquisition of AppliedMicro
Thursday, January 26, 2017
Business Wire
MACOM Technology Solutions Holdings, Inc. (MACOM), a leading supplier of high-performance RF, microwave, millimeterwave, and lightwave semiconductor products, announced that it has successfully completed its previously announced acquisition of Applied Micro Circuits Corporation (AppliedMicro).

PTI Terminates Deal with Tsinghua Unigroup
Monday, January 16, 2017
DIGITIMES
Taiwan-based Powertech Technology (PTI) has decided to terminate its share subscription agreement with China's state-owned Tsinghua Unigroup, according to the packaging and testing house.

SmartKem Raises Funds for Organic Semiconductor Materials
Wednesday, December 28, 2016
EE Times Europe
SmartKem Ltd., the developer of the TruFlex organic semiconductor system suitable for the solution application in flexible displays, has raised an additional £3 million from its existing investors.

Japan's TDK to Buy U.S. Chip Maker InvenSense for $1.3 Billion
Wednesday, December 21, 2016
Reuters
Japanese electronic parts maker TDK Corp. has agreed to buy InvenSense Inc., a U.S. chip maker that produces motion sensors for Apple Inc. and Samsung Electronics Co., for $1.33 billion.

Public Tender Offer by TDK Subsidiary EPCOS to Acquire Tronics Successful
Wednesday, December 21, 2016
Business Wire
TDK Corporation and Tronics Microsystems SA jointly announced that the all-cash public tender offer launched by TDK's wholly-owned subsidiary EPCOS AG was successfully closed on December 14, 2016.

Sensor Firm Novelda Raises Funds, Changes CEO
Monday, December 19, 2016
EE Times
Norwegian CMOS sensor developer Novelda AS announced it has raised $12 million in a funding round and appointed Cornelia Mender as CEO, replacing Alf-Egil Bogen.

WiLAN Subsidiary Acquires Patent Portfolio from GLOBALFOUNDRIES
Tuesday, December 13, 2016
Design & Reuse
WiLAN announced that the company's wholly-owned subsidiary, Auriga Innovations, Inc., has acquired a portfolio of patents from GLOBALFOUNDRIES Inc. The portfolio covers semiconductor process technologies used in the manufacture of semiconductor devices.

Nantero Secures More Than $21M in Additional Funding
Thursday, December 8, 2016
Design & Reuse
Nantero Inc., the nanotechnology company developing next-generation memory using carbon nanotubes, announced the closing of an over $21 million financing round. The lead investor in the round was Globespan Capital Partners and also included participation from both new and existing strategic and financial investors.

SunEdison Semiconductor's Sale Closes
Friday, December 2, 2016
St. Louis Business Journal
The planned sale of SunEdison Semiconductor Ltd., the St. Peters-based maker of silicon wafers for the semiconductor industry, has closed.

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