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IPV Capital is a venture capital firm co-founded in 2006 by F. Roger Li and Tingru Liu, focusing on the semiconductor industry. The firm operates from offices in Beijing, Shanghai, and Silicon Valley, positioning itself as a significant player in the technology investment space. With approximately $3.4 billion in assets under management (AUM), IPV Capital has established itself as a lead investor in over 50% of the most valuable startup semiconductor design IPOs globally over the last decade.
Over the years, IPV Capital has evolved to support a diverse range of innovative technologies that drive growth across various markets, including computing, communications, industrial applications, consumer entertainment, and automotive. The firm has invested in a total of 79 companies, achieving notable exits such as iSoftStone, Amprius, and Genapsys Inc. IPV Capital's strategic focus on the semiconductor sector has made it a key player in the high-tech investment landscape.
IPV Capital primarily invests in the semiconductor sector, emphasizing innovative technologies that drive growth in computing, communications, industrial applications, consumer entertainment, and automotive markets. The firm targets investments across various stages of company development, from early-stage ventures to growth capital opportunities. The investment range typically spans from $1 million to $37 million, allowing IPV Capital to engage with companies at different points in their lifecycle.
In addition to its core focus on semiconductors, IPV Capital also explores opportunities in sectors such as fintech, energy, artificial intelligence, and more. The firm seeks to identify and lead investments in chip design companies that are poised for successful IPOs, leveraging its deep expertise and extensive network within the semiconductor industry. IPV Capital values founders who demonstrate a strong vision and the ability to execute on innovative technology solutions.
IPV Capital's portfolio includes a diverse array of companies, primarily within the semiconductor sector. Notable portfolio companies include:
In addition to these current portfolio companies, IPV Capital has achieved notable exits, including:
F. Roger Li: Co-founder of IPV Capital, F. Roger Li has extensive experience in venture capital and technology investments, particularly in the semiconductor sector.
Tingru Liu: Co-founder of IPV Capital, Tingru Liu brings a wealth of knowledge in technology commercialization and investment strategies within the semiconductor industry.
Alex Banh: Partner at IPV Capital, Alex Banh has a strong background in technology investments and has been involved in numerous successful funding rounds.
David Britts: Partner at IPV Capital, David Britts specializes in identifying high-potential technology companies and has a track record of successful investments.
Kuan Wei Mok: CFO of IPV Capital, Kuan Wei Mok oversees the firm's financial operations and strategic financial planning.
Ning Zhou: Senior Executive at IPV Capital, Ning Zhou plays a key role in managing portfolio companies and supporting their growth initiatives.
Tom F. Clausen: Venture Partner in Europe, Tom F. Clausen brings international investment experience and insights into the European technology market.
Wesley Fu: Advisor to IPV Capital, Wesley Fu provides strategic guidance and industry insights to enhance the firm's investment strategies.
To pitch to IPV Capital, founders should utilize the preferred channel outlined on their website at ipvcap.com. A well-structured pitch deck is crucial, and it should include details about the business model, market opportunity, technology differentiation, and financial projections. IPV Capital typically reviews submissions promptly, but response times may vary based on the volume of inquiries. Warm introductions are beneficial and can enhance the chances of securing a meeting with the investment team.
In September 2025, IPV Capital underwent a significant organizational change, splitting into two independent investment firms: IPV Katalyst and Petram Ventures. IPV Katalyst focuses on Asia and is headquartered in Hong Kong/Shanghai, while Petram Ventures is based in Silicon Valley and targets investments in the US and globally.
Over the past decade, IPV Capital has established itself as a lead investor in over 50% of the most valuable startup semiconductor design IPOs, showcasing its strong presence in the semiconductor sector. The firm has also achieved notable exits, including iSoftStone, Amprius, and Genapsys Inc., further solidifying its reputation as a key player in technology investments.
What are IPV Capital's investment criteria?
IPV Capital primarily invests in the semiconductor sector, targeting innovative technologies across various markets such as computing, communications, industrial applications, consumer entertainment, and automotive. The firm looks for companies at different stages of development, from early-stage startups to those seeking growth capital.
How can I apply or pitch to IPV Capital?
Founders interested in pitching to IPV Capital can visit their website at ipvcap.com for more information on the application process. It is advisable to prepare a detailed pitch deck that outlines the business model, market opportunity, and technology differentiation.
What makes IPV Capital different from other venture capital firms?
IPV Capital distinguishes itself through its deep expertise in the semiconductor sector and its track record of leading investments in over 50% of the most valuable semiconductor design IPOs globally. The firm provides strategic guidance and access to a vast network within the semiconductor industry.
What is the geographic scope of IPV Capital's investments?
IPV Capital primarily focuses on investments in Asia, particularly China, while also maintaining a presence in Silicon Valley. This dual geographic approach allows the firm to tap into diverse markets and innovative technologies.
What is the typical check size for investments?
IPV Capital typically invests between $1 million and $37 million in its portfolio companies, depending on the stage of development and specific needs of the business.
What kind of post-investment involvement does IPV Capital have?
IPV Capital adds value to its portfolio companies through strategic guidance, operational support, and assistance in navigating the complexities of technology commercialization and IPO processes. The firm actively engages with its portfolio companies to help them achieve their growth objectives.
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