Investment of nearly $40 million to develop chip design in Quebec
MONTREAL, Dec. 16, 2024 /CNW/ – Jolt Capital, a French private equity firm specializing in growth investments in deep tech companies, announces its very first investment in Quebec with the acquisition of part of Dolphin Design’s activities, a leader in semiconductor design. This investment of nearly 40 million Canadian dollars marks a decisive step for Jolt Capital, which aims to make Quebec its development base for the North American market.
With this acquisition, Jolt Capital buys the intellectual property (IP) design activities for power management and analog signals from Dolphin Design’s division, previously part of the Soitec group, thus consolidating its expertise in semiconductors and establishing a Canadian structure to support the company’s expansion under the name Dolphin Semiconductor. The development plan includes relocating the headquarters to Montreal and injecting capital directly into the Quebec entity, thus contributing to Quebec’s technological innovation ecosystem.
“Canada is a particularly strategic market for Jolt Capital, with a high-performing innovation ecosystem and many deep-tech companies. This investment in Dolphin Semiconductor is an important milestone in implementing our vision of making Quebec our operational base in North America and demonstrates our commitment to developing our presence in Canada in the long term. Jolt Capital’s office in Montreal, in addition to strengthening our local presence, will lead our investments and business development activities in Canada as well as coordinate our other points of presence in the region, notably in Silicon Valley and Boston,” said the company’s president, Jean Schmitt.
Dolphin Semiconductor, already operating in Quebec under the name Dolphin Integration, plans to expand its current team of about thirty people based in Saint-Laurent. This investment will enhance its production and development capabilities for new technologies while creating job opportunities. Recruitment will target talents that will accelerate the development of intellectual property blocks already sold to top-tier suppliers. The Quebec subsidiary will also eventually have an executive who will sit on Dolphin Semiconductor’s global management committee, thus strengthening local decision-making. Additionally, board meetings will be held regularly in person in Montreal, with the addition of two new board members, including an independent one, based in Quebec. In this regard, Claude Jean, Senior Vice President of Teledyne Dalsa, will be appointed as an independent board member of Dolphin Semiconductor. This appointment underscores the company’s commitment to local expertise and strategic development in Quebec.
“We are excited to take a new step in the development of Dolphin Semiconductor with the strategic support of Jolt Capital. This partnership will allow us to create a global leader in IP blocks in the semiconductor field, positioning the company in key markets in North America, Europe, and Asia,” said Laurent Monge, newly appointed CEO of Dolphin Semiconductor.
“The arrival of an investor of Jolt Capital’s stature in Quebec testifies to the vitality of our technological ecosystem and the recognition of the excellence of our local expertise. It is essential to support the establishment of such players, who act as catalysts for innovation, generate job opportunities, and consolidate our international presence,” said Claude Jean, independent board member of Dolphin Semiconductor and Senior Vice President of Teledyne Dalsa.
This first investment by Jolt Capital in Quebec was made possible with the strategic support of the Ministry of Economy, Innovation and Energy (MEIE), which facilitated key connections. It also benefited from the collaboration of Mr. Henri-Paul Rousseau, Quebec’s General Delegate in Paris, and Ms. Michèle Boisvert, who previously held this position. Both actively supported the investment fund in its efforts to establish itself in Montreal.
About Jolt Capital
With nearly €600 million in assets under management, Jolt Capital invests in cutting-edge B2B technology companies, transforming them into global leaders. The Jolt Capital team is comprised exclusively of seasoned investors and former executives from high-tech companies. Its proprietary artificial intelligence platform, Jolt.Ninja, enhances deal flow, accelerates the due diligence process, and automatically identifies investment and acquisition targets. In June 2024, Jolt Capital announced the opening of its North American headquarters in Montreal, overseeing capital deployment in Canada and driving business development efforts for the firm and its portfolio companies across North America. Jolt Capital also maintains a presence in Paris, Lausanne, Copenhagen, London, Tokyo, and Silicon Valley.
About Dolphin Semiconductor
Dolphin Semiconductor is a company specializing in the design and development of analog and mixed-signal integrated circuits, offering advanced technological solutions for various applications, particularly in the automotive, Internet of Things (IoT), and power electronics fields. With teams based in France and Quebec, Dolphin Semiconductor stands out for its expertise in energy-efficient integrated circuits, optimizing performance while reducing consumption. The company develops intellectual property (IP) blocks, which are essential design bricks for manufacturing any electronic chip. With unique expertise and a research and innovation-centered approach, Dolphin Semiconductor establishes itself as a preferred partner for companies wishing to design innovative and high-performance electronic systems, meeting the most advanced technological requirements of the semiconductor market.
SOURCE Jolt Capital
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