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GaN Systems’ Investors Receive Venture Capital Awards

Chrysalix Venture Capital Named 2017 Financial Investor of the Year

Cycle Capital Management named Canada’s 2nd most active VC in 2016

OTTAWA, Ontario, April 17, 2017 – As GaN Systems’ gallium nitride transistors revolutionize the power electronics market, the company’s funding partners are being recognized for their investment success. After releasing its 8th annual Global Cleantech 100 list, Cleantech Group (CTG) has awarded GaN Systems funding partner, Crysalix Venture Capital, the 2017 Financial Investor of the Year Award. The Global Cleantech 100 is a peer-reviewed list of the top private companies involved in innovative clean technology, and that have the greatest potential to impact the future of a wide range of industries within a 5-10 year timeframe. In a parallel development, in its 2016 “Year in Review” report, the CVCA (Canadian Venture Capital and Private Equity Association) reported that GaN Systems’ funding partner, Cycle Capital Management, was recognized for being the most active cleantech venture capital firm in Canada in 2016. Additionally, Cycle Capital was Canada’s 2nd most active independent private venture capital firm, consummating 29 deals and investing at total investment of $132M. According to the CVCA report, Canadian cleantech investments for 2016 experienced a 200% increase over the previous year.

Chrysalix Venture Capital received this important award, a direct derivation of the peer-reviewed Global Cleantech 100 list, because they had the highest percentage – in excess of 60% – of their qualifying portfolio companies on the 2017 Global Cleantech 100 list, the most of any venture firm. Chrysalix Venture Capital is a technology-focused investment firm that invests in companies that bring disruptive innovation to the world’s largest industries. GaN Systems, a leading developer of gallium nitride power switching semiconductors, is one of seven such companies in the investment firm’s portfolio that are also included in the Global Cleantech 100 list.

As stated by Chrysalix President and CEO, Wal van Lierop, “We are honored to be recognized as the Financial Investor of the Year at this year’s Global Cleantech 100. This award is a great endorsement of our portfolio and validation of Chrysalix’s strategy of targeting breakthrough industrial innovations leveraging intelligent systems and components, which we pioneered in our last fund and have made the central focus of our new Chrysalix RoboValley Fund.”

Cycle Capital invests in cleantech entrepreneurial companies that are dedicated to fostering a sustainable future and that produce more with less. Commenting on how GaN Systems fits into its portfolio, Cycle Capital’s Founder and Managing Partner Andrée-Lise Méthot said, “We’re happy to share these results with our portfolio companies because it’s by investing in globally competitive companies led by great entrepreneurial teams like GaN Systems that we become the leader of the cleantech investment in Canada.”

“GaN Systems is proud to be a member of Chrysalix Venture Capital’s portfolio of leading-edge technology companies,” remarked GaN Systems CEO, Jim Witham. “We congratulate our funding partner on being recognized for their forward-thinking, and for winning this well-deserved and highly prestigious award.” Mr. Witham went on to congratulate Cycle Capital, “We’re extremely proud to be a member of the Cycle Capital portfolio of companies who are at the vanguard of the cleantech revolution. By investing in GaN Systems, together we are helping to reduce the world’s exploding demand for more energy, while simultaneously enabling our customers with solutions that give them a competitive advantage.”