Ventech celebrates another milestone in the world of deeptech as its portfolio gem, Crocus Technology, renowned for its cutting-edge TMR sensor technology, has been acquired by Allegro MicroSystems with $420 million in cash.
Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global juggernaut in power and sensing semiconductor technology, particularly in motion control and energy-efficient systems, stands as the strategic acquirer in this momentous transaction.
This exit serves as a testament to Ventech’s steadfast commitment to nurturing the deeptech European ecosystem for almost two decades, with a special emphasis on the semiconductor industry. Notable counterparts in Ventech’s portfolio, such as Codasip and Microoled, further underscore its enduring dedication.
The French government has duly acknowledged Ventech’s contribution by selecting the firm in the first batch of VC funds eligible for the Tibi 2 Initiative. This government initiative aims to channel investments toward industries deemed innovative and strategic, with deeptech being a pivotal component, marking an inspiring news for the tech ecosystem as a whole.
Ventech has a renowned track record for nurturing entrepreneurs from the seed stage to IPO.
A glance at Ventech’s active portfolio revealing some of Europe’s most promising startups, and successful deeptech exits:
✨For detailed insights into this transaction, delve into the official press release: https://www.allegromicro.com/en/about-allegro/news-room/2023/crocus-acquisition
💰 You are a deeptech startup and are looking for funding? Send your pitch here: https://form.typeform.com/to/Qbrmu4mh?typeform-source=ventech.typeform.com
