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IQE

17 April 2017

GaN Systems’ investors receive venture capital awards

GaN Systems Inc of Ottawa, Ontario, Canada – a fabless developer of gallium nitride (GaN)-based power switching semiconductors for power conversion and control applications – says that its funding partners have been recognized for their investment success.

After releasing its 8th annual Global Cleantech 100 list, Cleantech Group (CTG) has honored GaN Systems’ investor Crysalix Venture Capital with the 2017 Financial Investor of the Year Award. The Global Cleantech 100 is a peer-reviewed list of the top private companies involved in innovative clean technology, and that have the greatest potential to impact the future of a wide range of industries within a 5-10 year timeframe.

In a parallel development, in its 2016 ‘Year in Review’ report, the CVCA (Canadian Venture Capital and Private Equity Association) reported that GaN Systems’ funding partner Cycle Capital Management was recognized for being the most active cleantech venture capital firm in Canada in 2016. Additionally, Cycle Capital was Canada’s 2nd most active independent private venture capital firm, consummating 29 deals and investing at total investment of $132m. According to the CVCA report, Canadian cleantech investments for 2016 experienced a 200% increase over the previous year.

Chrysalix Venture Capital was selected from a field of over 11,000 peer-reviewed nominees. They were chosen for having the highest percentage - in excess of 60% - of their qualifying portfolio companies on the 2017 Global Cleantech 100 list. Founded in Vancouver, Canada in 2001, Chrysalix is a technology-focused investment firm that invests in companies that bring disruptive innovation to the world’s largest industries. GaN Systems is one of seven such companies in its portfolio that are also included in the Global Cleantech 100 list.

“This award is a great endorsement of our portfolio and validation of Chrysalix’s strategy of targeting breakthrough industrial innovations leveraging intelligent systems and components, which we pioneered in our last fund and have made the central focus of our new Chrysalix RoboValley Fund,” says Chrysalix’s president & CEO Wal van Lierop.

Cycle Capital invests in cleantech entrepreneurial companies that are dedicated to fostering a sustainable future. “It’s by investing in globally competitive companies led by great entrepreneurial teams like GaN Systems that we become the leader of the cleantech investment in Canada,” comments founder & managing partner Andrée-Lise Méthot.

Tags: GaN Systems Power electronics

Visit: www.gansystems.com

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