The latest news from academia, regulators
research labs and other things of interest
Posted: May 6, 2009
SVTC Receives An Additional $34 Million From Existing Investors
(Nanowerk News) SVTC Technologies, a leading provider of development and commercialization services for silicon-based technologies, announced that the company has raised an additional $34 million from its existing investors, Oak Hill Capital Partners and Tallwood Venture Capital.
The investment coincides with the two-year anniversary of SVTC’s emergence as an independent, privately owned enterprise. The Company has expanded its services from semiconductor development to new areas that include prototyping and low-volume production of advanced structures for MEMS and high-voltage analog devices, photovoltaic applications for the solar industry and analytical services for multiple high-tech industries.
“The Company is pleased with the support and confidence of its existing investors as we expand the SVTC concept to provide a wider variety of technical service solutions for our customers,” said Joseph Bronson, SVTC’s CEO. “SVTC’s outsourced development services model gives device manufacturers the opportunity to convert fixed costs into variable costs, avoid significant capital expenditures and ultimately strengthen their balance sheets.” He added that the new funding also positions SVTC well for additional expansion that will allow the company to support customer interests in analog technology, bio-devices and optical components.
Luis Arzubi, a partner at Tallwood Venture Capital, stated, “Our goal at SVTC is to commercialize new and more efficient devices by enabling large enterprises and entrepreneurs alike to develop the next generation of technology solutions in a cost effective, IP-secure environment.”
“We believe that SVTC’s suite of services represents a compelling value proposition in the current environment as semiconductor innovators look to reduce their development and low-volume production costs,” said Robert Morse, a partner at Oak Hill Capital. “The investment reflects our continued commitment to and confidence in SVTC’s management team and business model.”
Oak Hill Capital Partners is a private equity firm with more than $8 billion in committed capital. Tallwood Venture Capital, a Silicon Valley venture capital firm, invests exclusively in semiconductor and chip-related technologies.