Silverpeak, the mid-market technology specialist representing European growth businesses in M&A and financing transactions, has acted as the exclusive financial advisor to SiPearl in Europe’s largest deeptech Series A closed to date in 2023.
SiPearl produces the world’s first HPC-dedicated microprocessor designed to work with any third-party accelerator (GPU, AI, Quantum), and deliver energy-efficient computing at scale.
Silverpeak advised SiPearl on the structuring of its Series A financing. The mandate involved working on a financing approach in sync with its strategic positioning in the European ecosystem and its worldwide ambition. The transaction was complex, involving public and corporate investment, whilst preparing the company for future financial investors.
Silverpeak worked as a lead adviser with the company to develop and communicate a rigorous business plan with carefully selected investors. Silverpeak structured and negotiated the transaction through to completion.
Philippe Notton, CEO of SiPearl, said: “We selected Silverpeak for its financing expertise, its ability to deliver a seamless international execution with a French flavour and, of course, heaps of deeptech and semiconductor expertise. They haven’t disappointed in a transaction whose size and industry-changing nature made the process complex and unusually long. We are delighted with the results which will allow SiPearl to deliver its first product next year.”
Jean-Michel Deligny, Senior Advisor at Silverpeak, said: “We’ve known Philippe even before SiPearl was created and have always admired the ambition of the company. Given the complexity of its chip, SiPearl is not only a first in Europe, but it is also a game changer for the industry in combining an HPC-dedicated CPU with an architecture open to workload-specific co-processors. What is key behind the success of SiPearl is that HPC is now everywhere, driven by the demands of AI model training in the cloud.”
Pietro Strada, Managing Partner at Silverpeak, said: “We are delighted to have worked with Philippe and his team, and excited at the prospect of a new champion emerging in the European semiconductor industry. The investors in this round are an outstanding syndicate that will support the company’s future growth.”