Semiconductors

The Bintang Semiconductor Impact Fund I (BSIF I) is a MYR 200 million (approximately USD 46.56 million) impact investment fund managed by Bintang Capital Partners Berhad, a Malaysia-based alternative asset manager. Launched in October 2024, BSIF I is positioned as the first gender-lens semiconductor fund in Southeast Asia and operates under a 'carry-at-risk' structure in which the management team's carried interest is contingent on meeting defined impact performance thresholds relating to gender equity and environmental outcomes. The fund has earned a 'Gold' rating under Bluemark's FundID impact rating system and is anchored by Dana Penjana Nasional, Malaysia's government-backed catalytic fund established to co-invest in high-potential domestic growth companies. BSIF I targets growth-stage companies operating within and adjacent to Malaysia's semiconductor value chain, with a particular focus on high-tech manufacturing, automation, assembly and test, chip design, and advanced electronics. Beyond conventional financial returns, the fund applies a dual-impact framework: portfolio companies are expected to adopt measurable commitments to women's participation in leadership and skilled manufacturing roles, and to implement carbon transition initiatives aligned with Malaysia's National Semiconductor Strategy (NSS). BSIF I was developed in close collaboration with the Malaysian Investment Development Authority (MIDA) and the Federation of Malaysian Manufacturing (FMM), whose April 2025 Memorandum of Understanding with Bintang Capital formally integrated the fund into the government's strategic framework for semiconductor industry development and IPO readiness. The fund has attracted a diverse group of investors including AHAM Asset Management, the Malaysian Armed Forces Fund Board, CVC Capital Partners, and Nikko Asset Management, alongside the anchor commitment from Dana Penjana Nasional. The Bintang Capital Partners team brings extensive domain expertise to the fund's thesis: the founding partners collectively hold more than 30 years of experience in finance, operations, M&A, and electrical and electronics manufacturing, including leadership roles at MIDA and senior positions in the semiconductor supply chain. Through BSIF I, Bintang Capital Partners aims to catalyze Malaysia's ambitions as a next-generation semiconductor hub, leveraging the country's existing strengths in back-end manufacturing and its growing ecosystem of electronics innovation.

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.