By Archibald Preuschat
AMSTERDAM--Russian venture capital fund Rusnano said Thursday it
will inject 40 million euros ($49.6 million) in Mapper Lithography,
a chip equipment provider founded in 2000, in the latest example of
venture capital flowing into the Dutch semiconductor equipment
industry.
The sum will be matched by Mapper's existing shareholders. These
include Arthur del Prado, co-founder of larger peer ASML Holding NV
(ASML.AE). The investment mirrors similar investment in ASML
earlier this summer.
Semiconductor equipment is a key technology as developments
could enable chip makers to produce more powerful and more
energy-efficient chips. Energy efficiency is important for chips
used in mobile gadgets like smartphones, which are becoming more
and more powerful, but still lack a long battery life. The
equipment sector, however, is unwilling to take on the financial
burden and the risks of research and development alone.
Mapper Lithography and ASML have similar objectives, but use
different technologies. While ASML uses extreme ultraviolet light
to map out electronic circuits on silicon wafers, Mapper
Lithography uses its own patented technique based on parallel
electron beams.
Recently, two of the world's largest chip makers took a
non-voting stake in ASML and provided funding for the company's
research and development as part of the Dutch semiconductor
company's co-investment program for its customers.
Intel Corp. (INTC) said in mid-July it would take up to a 15%
stake in ASML for EUR2.5 billion and will provide EUR830 million
for research and development. Taiwan Semiconductor Manufacturing
Co. (TSM) will take a 5% stake for EUR838 million and support
ASML's research and development with another EUR276 million.
Samsung Electronics Co. (005930.SE) of South Korea is also expected
to take part in the program.
Write to Archibald Preuschat at
archibald.preuschat@dowjones.com
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