Semiconductors

Bintang Semiconductor Impact Fund I (BSIF I) is a MYR 200 million (approximately USD 46.56 million) gender-lens impact fund managed by Bintang Capital Partners, a Malaysia-headquartered investment firm. Launched in October 2024, BSIF I represents a landmark initiative aligning financial returns with measurable social and environmental outcomes in Malaysia's semiconductor industry. The fund attracted a distinguished limited partner base including Dana Penjana Nasional, Khazanah Nasional Berhad, CVC Capital Partners, Nikko Asset Management, AHAM Asset Management Berhad, and the Malaysian Armed Forces Fund Board, reflecting strong government and institutional backing for the fund's dual-mandate thesis. BSIF I targets growth-stage companies within and adjacent to Malaysia's semiconductor value chain, including high-tech manufacturing, automation, and enabling technologies. The fund employs a unique 'carry-at-risk' structure in which a portion of Bintang Capital's carried interest is directly tied to the achievement of measurable impact performance targets—specifically, advancing women's participation in semiconductor leadership and skilled manufacturing roles, and accelerating the carbon transition within the sector. The investment strategy aligns with Malaysia's New Industrial Master Plan 2030 and the National Policy on Women 2021-2025, positioning BSIF I as a key financing vehicle for the country's ambition to future-proof its semiconductor ecosystem and raise its global competitiveness in electronics manufacturing. An MoU between Bintang Capital Partners, the Malaysian Investment Development Authority (MIDA), and the Federation of Malaysian Manufacturers (FMM) provides a structured public-private partnership framework for deal sourcing and portfolio development. Led by three female Venture Partners—Ooi Hooi Kiang, Lim Bee Vian, and Kong Siew Mui—who collectively bring more than 90 years of combined experience across finance, public policy, industrial development, and semiconductor manufacturing operations, BSIF I deploys both financial and operational expertise alongside capital. This leadership team draws on deep networks within Malaysia's industrial policy and manufacturing ecosystem to source proprietary investment opportunities and support portfolio companies in their growth and ESG journeys. BSIF I is distinguished as the first Malaysian fund to tie fund economics explicitly to diversity and environmental impact outcomes in the semiconductor sector.

FORWARD.one Fund III is a €200 million industrial technology venture fund aiming to back Europe’s next generation of breakthrough hardware and deeptech companies. With a hard cap set at €250 million, the fund will deploy initial tickets in the range of €1–3 million, reserving additional capital for follow‑on financing. The fund intends to build a concentrated portfolio of 25–30 early‑stage companies, focusing on domains such as semiconductors, robotics, sensors, advanced automation, climate tech, and industrial innovation. Its geographic focus includes the Benelux, Germany/Austria/Switzerland (DACH), the Nordics, and other European innovation hubs. FORWARD.one brings a hands‑on, commercialization‑oriented investment style. Its value proposition is rooted in bridging the “deeptech gap” by combining technical domain expertise, rapid execution, and industry networks to help founders transform advanced research into scalable products for real markets. The fund also builds on FORWARD.one’s performance track record: Fund I (launched ~2018) delivered a net IRR of ~41 % and 2× DPI, with exits such as Sensorfact (acquired by ABB) and Mayht (acquired by Sonos). Fund II (launched ~2021, ~€145 million) is mid‑deployment, targeting similar sectors. With Fund III, the firm aims to scale its backing of Europe’s industrial tech champions and deliver strong returns for LPs.

Matter Venture Partners has raised a $300 million first fund with a focus on ""hard tech"" investments. The fund aims to invest in companies that contribute to foundational technologies and trends that are built on hard tech. With backing from Kleiner Perkins and Taiwanese chipmaker TSMC, Matter Venture Partners invests at the large seed rounds, Series A and Series B. This venture capital fund focuses on six sectors: semiconductors, robotization, generative AI, manufacturing on-shoring and friend-shoring, energy building blocks, and life science automation. Within these sectors, the fund aims to invest in companies that provide the ""picks and shovels"" for these trends, as well as contribute to new innovations and technologies. Matter Venture Partners is looking to invest in between 15 and 20 companies with the new fund, with a goal to support portfolio companies across several rounds. The firm believes that the oversubscription of the fund is due to the increased realization of the importance of foundational hard tech technologies in today's society. The fund also prides itself on having operating partners, including Mel Tang, who provides expertise in operations, supply chain management, and manufacturing unit economics to support hard tech startups.

Mayfield Select III, also known as Mayfield Spring, is a $375 million venture capital fund launched by Mayfield in May 2023. This fund is designed to invest in Series B rounds, focusing on both follow-on investments in breakout companies from Mayfield's existing portfolio and new opportunities outside of it. The fund aims to support companies that have demonstrated early product-market fit and are poised for significant growth. The fund targets sectors at the intersection of technology and biology, including human-centered AI, the data economy, developer-first technologies, semiconductors, cybersecurity, deeptech, Web3, and human and planetary health. Mayfield's investment philosophy emphasizes a people-first approach, partnering closely with founders to build enduring companies. With Mayfield Select III, the firm continues its tradition of backing visionary entrepreneurs during pivotal growth stages, providing not just capital but also strategic guidance and support. The fund reflects Mayfield's commitment to fostering innovation and addressing some of the most pressing challenges and opportunities in today's rapidly evolving technological landscape.