News: Suppliers
18 September 2024
Sweden’s Navigare Ventures takes stake in SweGaN
SweGaN of Linköping, Sweden, which develops and manufactures custom gallium nitride on silicon carbide epitaxial wafers, has announced the closing of a substantial equity round. The investment will propel strategic collaborations and boost material development for growing power device markets, says the firm. In this financing round, investor Navigare Ventures, a fully owned subsidiary of Wallenberg Investments AB, joins as an active shareholder in SweGaN. The nearly 12M Euro capital raise also brings onboard several semiconductor-focused investors: Wafer Works from Taiwan (TPEx: 6182.TWO), RFHIC (KOSDAQ: 218410), Ignite Innovation and BRV Capital Management from South Korea, and Lifelike Capital from the US.
Dr. Jr-Tai Chen, CEO, SweGaN: “We are thrilled to welcome all of our new investors and also Navigare Ventures as a key partner in SweGaN’s long-term development. Their long-term support will champion our customer confidence and foster strategic collaboration with SweGaN for future initiatives.”
Dr. David Sonnek, CEO, Navigare Ventures: “SweGaN’s unique technologies and skilled team position them to excel in semiconductor material manufacturing, poised to accelerate the adoption of new power semiconductors through innovative research and product development. Our long-term investment focus reflects a strong commitment to supporting SweGaN’s mission to build expertise, expand capabilities, and strengthen regional supply chains critical to the European semiconductor industry.”
Dr. Jr-Tai Chen: “Beyond financial backing, Navigare Ventures brings invaluable expertise in corporate governance, financing strategies, and technology scouting, as well as customer perspective from major market players, which will be crucial during these pivotal years. We are excited to welcome Dr. Alex Basu and Pontus de Laval to our Board, where their experience will be instrumental.”
As part of Navigare Ventures’ stake in SweGaN, two new executive board members have been appointed.
- Dr. Alex Basu, SweGaN Board Member
Investment Manager at Navigare Ventures with extensive experience in deep tech and board roles, including AlixLabs AB, EnginZyme AB, Pixelgen Technologies AB, and Rarity Bioscience AB. - Pontus de Laval, SweGaN Deputy Board Member
Senior Advisor at Navigare Ventures and the Knut and Alice Wallenberg Foundation, former CTO of Saab, with significant contributions to Sweden’s technology and defense sectors.
