Power chip maker GaN Systems secures $150m in VC: Reuters

Ottawa-based power chip maker GaN Systems said it has raised $150 million in a financing led by Fidelity Management & Research, Reuters reported.

Ottawa-based power chip maker GaN Systems said it has raised $150 million in a financing led by Fidelity Management & Research, Reuters reported. The company is seeking to grow its market share, including a big push into the electric car market, the report said. GaN’s venture capital investors include BDC Capital, BMW i Ventures, Chrysalix Venture Capital, Cycle Capital Management, Delta, RockPort Capital, Tsing Capital and Toyota Motor Corp.

Source: Reuters