Imec.xpand Launches EUR 300M Fund Amid Global Race for Semiconductor Supremacy

Leuven, Belgium – May 2, 2024 – Imec.xpand, an independent global venture capital fund, today announced the launch of a new EUR 300 million fund aimed at accelerating the growth of transformative semiconductor and nanotechnology innovations. Established as a collaborative effort with imec, the world-leading R&D and innovation hub in nanoelectronics, the fund will invest in startups that have the potential to be globally disruptive within their target domains. The fund is designed to fuel semiconductor innovation beyond traditional applications and drive the next-generation technologies that are 10 years ahead of their time.

Imec.xpand invests globally across all stages, transforming semiconductor and nanotechnology innovations into market-ready solutions. Focused on leveraging imec's expertise, the fund targets breakthrough technologies including artificial intelligence (AI), machine learning (ML), augmented reality/virtual reality (AR/VR) and photonics. In life sciences, imec.xpand is looking for opportunities to advance cell therapy, sequencing, neuromodulation and other applications that will revolutionize medical diagnostics and treatments.

“Imec.xpand is not just about funding startups, it's about building companies that can lead the next wave of technological transformation,” said Tom Vanhoutte, partner at imec.xpand. "With this fund, we are dedicated to advancing the semiconductor industry by empowering startups to bring innovative technologies to market faster. The combination of our venture capital and international network helps unicorns grow amid the global race for semiconductor supremacy.”

The first imec.xpand fund was launched in 2017 with the strong support of imec. Since then, imec.xpand has attracted a loyal base of international financial and strategic investors. Over the years, imec.xpand has built a strong track record of investing in game-changing companies. The fund’s unique positioning among the global venture capital community, and also in the U.S., is instrumental in attracting potential co-investors for its portfolio companies. Imec.xpand’s stamp of approval often acts as a financial catalyst that enables startups to raise additional funding from other investors. To date, imec.xpand has invested in 23 companies that, so far, have raised nearly EUR 1.5 billion in financing and includes two unicorns.

Imec.xpand portfolio companies are developing cutting-edge, differentiated technologies that give them a global competitive advantage in their respective markets. Noteworthy imec.xpand portfolio companies include Celestial AI, a Palo Alto-based company that recently raised $175 million USD to advance its optical compute and memory fabric solution for AI infrastructure; PsiQuantum, a frontrunner in the race to develop the first practical quantum computer; and Swave Photonics, developing a unique holographic extended reality chip technology designed to disrupt 3D holographic imaging and spatial computing.

Imec.xpand’s combination of independent management, global reach and scale, dedicated semiconductor focus, corporate and financially driven investors, and extensive imec support sets the fund apart from other venture capital initiatives. To learn more about imec.xpand and its latest venture capital fund, visit: https://imecxpand.com/.