Navigare Ventures completes SweGaN equity raise of nearly 12M Euro

Sweden’s Navigare Ventures completes SweGaN equity raise of nearly 12M Euro – gains significant stake in European semiconductor company

Linköping, Sweden, September 18, 2024: SweGaN AB, an European semiconductor manufacturer that develops and produces customengineered Gallium Nitride on Silicon Carbide (GaN-on-SiC) epitaxial wafers, announces the closing of a substantial equity round from financial and strategic investors. The investment will propel strategic collaborations and boost material development for growing power device markets. In this financing round, early-stage investor Navigare Ventures, a fully owned subsidiary of Wallenberg Investments AB,  joins as an active shareholder in the semiconductor manufacturer.

The nearly 12M Euro capital raise also onboards an impressive range of semiconductor-focused investors from the global arena: 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.

Navigare Ventures, an investment company focused on research-based companies to promote reindustrialization within the high-tech segment, has invested in SweGaN to support the company’s long-term growth plan. Additionally, the Navigare Ventures ownership stake brings new Board members to SweGaN.

-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.”

-“Navigare Ventures, as part of the Wallenberg ecosystem,  and their extensive industrial and scientific networks will be a cornerstone in further establishing SweGaN in Sweden,” continues Chen.

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.”

Executive Board Announcements

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.

About SweGaN

SweGaN provides unique solutions for GaN-on-SiC epiwafers based on its groundbreaking epitaxial growth technologyfor the manufacturers of RF and power devices used in applications of telecom, defense, satellite communications. The high performance of SweGaN QuanFINE® material enables our customers to quickly adapt to the evolving challenges of next-generation high power and high frequency devices, and to create future-oriented solutions. For more information, visit us as www.swegan.se and LinkedIn.