SMBC, NEC-backed VC fund backs US semiconductor firm

SiTime is an analog semiconductor company that makes components - such as clock generators, oscillators and embedded resonators - used for producing timing signals in electronic products. Applications span consumer and industrial electronics, networking communications and storage computing.

The company's silicon-based timing components are seen as a successor to the traditional quartz-based alternatives. It claims to have an 80% share of the $5 billion timing market with over 175 million devices shipped.

The Innovative Venture Fund is a JPY3.5 billion ($35.5 million) vehicle launched by SMBC Venture and NEC Capital in April 2012 with backing from the Organization for Small & Medium Enterprises and Regional Innovation, Japan (SMRJ) and SMBC Strategic Fund No.1.

The fund is intended to leverage NEC's technology as well as financial solutions provided by SMBC to support early stage technology companies.

"A key goal of our Innovative Venture Fund is to invest in disruptive technologies that have the potential to transform large markets," said Soichiro Matsuyama, chief financial officer at NEC Capital in a statement.

"SiTime's timing solutions, based on game-changing silicon MEMS and analog technology, are revolutionizing the $5 billion timing market. SiTime has a remarkable market opportunity and we are excited to participate in SiTime's future growth."

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• Topics
• North Asia
• Venture
• Technology
• Japan
• Technology
• SMBC Venture Capital
• NEC Capital
• Organization for Small & Medium Enterprises and Regional Innovation, Japan (SMRJ)