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December 3, 1987

VENUTRE FUNDING

By CBR Staff Writer

Gazelle Microcircuits Inc, Santa Clara, California has landed first-round venture-capital funds totalling $5.5m. Gazelle describes itself as a high-growth company formed in 1986 by David MacMillan and Andrew Graham, two experienced semiconductor executives intent on exploiting Gallium Arsenide technology by providing high-performance, easy-to-use digital GaAs devices for applications in the computation, communication and military/aerospace industries. No products have yet been announced, but the company will be pitching at high-volume commercial applications rather than the specialised niches addressed by other GaAs companies. Contributors to the funding were Kleiner Perkins Caufield & Byers; Hambrecht & Quist; Dillon Read & Co Inc; Concord Partners; Merrill, Pickard, Anderson & Eyre; and Venrock Associates. This first round follows investment in 1986 of $1m in seed capital, and was originally to have raised $4m but was oversubscribed within 10 days. There is very high interest by investors in the unique way we are using Gallium Arsenide technology and how we will bring products to market, says chairman Jerry Crowley. For now, it’s sufficient to say that we will have a few surprises for the industry before the end of 1988. Floyd Kvamme, a founder of NatSemi and now a general partner with Kleiner Perkins Caufield & Byers is on the board of Gazelle.

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