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The venture capital fund recognized for its concentration on chip and nanotechnology, Imec.xpand, has publicized the creation of a substantial new fund amounting to $320 million.
Operating from Leuven, Belgium, this tech-focused fund is set on pursuing groundbreaking developments in the realms of semiconductors and nanotechnology.
Imec.xpand, working in tandem with Imec, a leading research and development institution in nanoelectronics, is prepared to channel investments into startups poised to cause global disruption in their respective fields.
Tom Vanhoutte, a partner at Imec.xpand, articulated the fund’s ambition to catalyze semiconductor innovation that surpasses conventional uses, propelling next-generation technologies that are a decade ahead of their time.
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“We’re an autonomous fund that only invests where we can significantly enhance a company’s success. Our investments are global, and we aim to elevate these companies to the next echelon while maintaining a substantial equity stake through all capital phases,” Vanhoutte explained.
Imec.xpand’s investment strategy is global and spans all startup stages, with the intent of converting semiconductor and nanotech innovations into market-ready products. The fund’s team, though compact, boasts a tech-savvy background, and can draw upon Imec’s extensive research expertise when necessary.
By leveraging Imec’s proficiency, the fund is targeting revolutionary technologies across artificial intelligence (AI), machine learning (ML), augmented reality/virtual reality (AR/VR), photonics, and life sciences applications such as cell therapy, sequencing, and neuromodulation, all of which are poised to transform medical diagnostics and treatments.
In terms of investment focus, Vanhoutte highlighted significant interest in AI, biotech semiconductors, quantum computing, among others, noting that computational tasks like DNA or protein sequencing often necessitate semiconductor innovations. Investment amounts typically start at $15 million.
“We embrace technology risk, which some venture capitalists might avoid due to a lack of technical expertise that we possess,” Vanhoutte said.
“Imec.xpand isn’t just about providing capital; it’s about building companies that can spearhead the next wave of tech evolution,” Vanhoutte continued. “With this fund, we’re committed to propelling the semiconductor industry forward by enabling startups to bring pioneering technologies to market more rapidly. Our venture capital support, coupled with our international network, cultivates growth among unicorns in the global semiconductor race.”
Since its inception in 2017 with strong backing from Imec, Imec.xpand has garnered a dedicated following of international investors. The fund has established a solid investment history in companies that are changing the game.
The fund’s reputation within the global venture capital community, particularly in the U.S., is pivotal in drawing co-investors for its portfolio companies. Imec.xpand’s endorsement frequently serves as a financial catalyst, enabling startups to secure further funding from other sources. To date, imec.xpand has invested in 23 companies that have collectively raised close to $1.6 billion in financing, including two unicorns.
Imec.xpand’s portfolio boasts companies that are developing unique technologies, giving them a competitive edge worldwide. Notable investments include Celestial AI, PsiQuantum, and Swave Photonics, each pioneering in fields ranging from AI infrastructure to quantum computing and 3D holographic imaging.
“Our goal is to identify and support companies that are globally disruptive,” Vanhoutte stated.
Imec.xpand stands out due to its independent management, global reach, semiconductor dedication, diverse investor base, and strong support from Imec, distinguishing it from other venture capital initiatives.
However, the one region Imec.xpand refrains from investing in is China, due to geopolitical tensions and U.S. restrictions. Aside from this, the fund is open to any chip-related investment opportunity worldwide.
“We seek companies where collaboration is key to the advancement of their technology roadmap,” Vanhoutte explained. “Sometimes that requires a broad range of expertise, and other times it’s a very specific aspect of their solution that they’re developing which demands specialized knowledge they may lack internally or for more ambitious roadmaps.”
The fund applies its technical expertise for due diligence and to assist startups in their initial stages.
“This expertise enables us to take on more technology risks than others,” Vanhoutte highlighted.
The company has made investments in holographic technology among various other deep tech research areas. While the U.S. often leads in technology, Europe also has strong technical minds, keeping the fund’s focus global. Vanhoutte also observed the differing roles of government funding between Europe and the U.S.
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