Semiconductors

Bintang Semiconductor Impact Fund I (BSIF I) is a $47 million impact-focused private equity fund managed by Bintang Capital Partners, a Malaysian investment firm led by Chief Investment Officer and Managing Director Adelene Low. Launched in October 2024 with the backing of the Malaysian Investment Development Authority (MIDA) and the Federation of Malaysian Manufacturers (FMM), BSIF I is regarded as the world's first impact-focused semiconductor fund, targeting Malaysia's growing position as a critical node in the global semiconductor supply chain. BSIF I invests in companies within and adjacent to Malaysia's semiconductor value chain, including high-tech manufacturing, automation, and semiconductor equipment. The fund's impact mandate has two dimensions: accelerating Malaysia's semiconductor ecosystem toward global competitiveness, and advancing gender diversity within the semiconductor industry — aligning with Women's Empowerment Principles and targeting B Corp certification for portfolio companies. The partnership formalizes cooperation between MIDA (the government investment promotion agency), FMM (the industrial manufacturers federation), and Bintang Capital to identify and capital-accelerate at least 100 local semiconductor companies toward IPO readiness over five years. The fund reflects Malaysia's National Semiconductor Strategy (NSS), a government-led initiative to capture higher-value semiconductor design, manufacturing, and packaging segments. BSIF I is designed to serve as a bridge mechanism between state-level strategic ambitions and private capital allocation, targeting both domestic institutional investors and impact-focused international LPs from the United States and Europe. A formal MoU governing MIDA-FMM-Bintang collaboration was signed on April 16, 2025.

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.