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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

NXP Sells Stake in China Foundry ASMC
Wednesday, April 19, 2017
EE Times
NXP Semiconductors NV sold its 27% remaining stake in Advanced Semiconductor Manufacturing Corp. Ltd. (ASMC), a chip foundry based in China.

PTI to Buy Micron Backend Plant in Japan
Monday, April 17, 2017
DIGITIMES
Taiwan-based Powertech Technology (PTI), a backend house specializing in NAND flash and DRAM memory chips, has announced plans to fully acquire Micron Akita, Micron Technology's assembly and test plant in Japan.

AMD Expands Technology Portfolio to Drive Immersive Computing Vision with Acquisition of Wireless Virtual Reality IP from Nitero
Monday, April 10, 2017
Design & Reuse
AMD announced it has acquired intellectual property (IP) and key engineering talent from Nitero, a pioneer in millimeter wave solutions capable of enabling future generations of wireless Virtual Reality (VR) and Augmented Reality (AR) headsets.

Chinese Investment Firm Agrees to Buy Xcerra
Monday, April 10, 2017
EE Times
A Chinese private equity firm has cut a deal to acquire Xcerra Corp., a Massachusetts-based supplier of semiconductor and electronics test equipment, for $580 million.

Israeli Car Chip Co. Valens Raises $60M
Thursday, April 6, 2017
Globes
Israeli semiconductor company Valens has raised $60 million in a financing round led by Israel Growth Partners (IGP), and including Delphi, Samsung Catalyst Fund, Goldman Sachs and MediaTek as new investors, in addition to Valens' existing investors.

Shanhai Capital Completes Acquisition of Analogix Semiconductor
Thursday, April 6, 2017
Business Wire
Analogix Semiconductor, Inc. and Beijing Shanhai Capital Management Co, Ltd., jointly announced the completion of the approximately $500 million acquisition of Analogix Semiconductor.

Integrated Device Technology, Inc. Announces Acceptance of Shares Tendered Into Offer for GigPeak, Inc.
Tuesday, April 4, 2017
Business Wire
IDT intends to effect the merger with GigPeak surviving as an indirect wholly owned subsidiary of IDT.

Analog Devices Acquires Broadband GaAs and GaN Amplifier Expert OneTree Microdevices to Enable Complete Cable Infrastructure Solutions
Thursday, March 30, 2017
Business Wire
Analog Devices, Inc. announced the acquisition of OneTree Microdevices, Inc., a privately held company based in Santa Rosa, California.

Arralis Gets €50M From Hong Kong-Based Consortium
Thursday, March 30, 2017
Irish Times
Irish tech firm Arralis, has secured a €50 million investment from a consortium of Hong Kong-based investors that will allow the company to expand its operations and add up to 25 new jobs.

MaxLinear to Buy Exar in the Latest Deal in the Chip Sector
Wednesday, March 29, 2017
Market Watch
The deal is expected to close in the second quarter and allow MaxLiner increase its scale to grow revenue.

MediaTek to Merge with Affiliate Airoha
Wednesday, March 29, 2017
DIGITIMES
MediaTek's merger with affiliate Airoha Technology has entered the second stage where MediaTek will purchase the remaining shares in the company.

TDK's Subsidiary TDK-Micronas to Acquire ASIC Specialist ICsense to Further Grow Its Sensor Business
Tuesday, March 28, 2017
Business Wire
TDK Corporation announced today that TDK's wholly-owned subsidiary TDK-Micronas GmbH, a supplier of Hall-effect sensors based in Freiburg, Germany, and ICsense NV have signed an agreement of acquisition of shares, to which TDK-Micronas will make ICsense NV a wholly-owned subsidiary.

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.

Guerrilla RF Completes $2.8M Series D Funding Round
Monday, March 13, 2017
Semiconductor Today
Guerrilla RF Inc of Greensboro, NC, USA, a provider of radio frequency (RF) and monolithic microwave integrated circuits (MMICs) for wireless applications, has closed a Series D funding round worth $2.8m (composed of a combination of equity and debt) with participation from multiple angel investors.

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.

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