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Chip, electronics veterans join hardware-focused US venture firm

 

SAN FRANCISCO: A Silicon Valley venture capital firm said Wednesday that two chip and manufacturing veterans are joining it as partners as an additional funding round brings its total capital to more than US$1 billion.

 

Palo Alto, California-based Eclipse Ventures said that it has added as partners Mike McNamara, the former chief of contract manufacturing firm Flex Ltd, and Sanjay Jha, who led chip manufacturer GlobalFoundries after a career at Qualcomm Inc and leading phone maker Motorola Mobility.


The firm, two of whose other partners came from Tesla Inc's manufacturing operations, also said it had closed a new US$500 million fund, bringing the total it has raised for investment into startups since its founding in 2015 to US$1.1 billion.


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