Innovative Venture Fund of NEC Capital Solutions and SMBC Group Leads Investment in SiTime

Innovative Venture Fund of NEC Capital Solutions and SMBC Group Leads 
Investment in SiTime 
All Major Investors Participated in Oversubscribed Round 
SUNNYVALE, CA -- (Marketwired) -- 11/04/13 --  SiTime Corporation,
the fastest growing semiconductor company, today announced that
Innovative Venture Fund, which is co-operated by NEC Capital
Solutions (8793: Tokyo) and SMBC Venture Capital, led SiTime's round
of financing. All major investors participated in this oversubscribed
round. Also, a new partner, Hercules Technology Growth Capital, Inc.
(NYSE: HTGC), provided a commitment for debt financing to SiTime. 
"A key goal of our Innovative Venture Fund is to invest in disruptive
technologies that have the potential to transform large markets,"
said Soichiro Matsuyama, Chief Financial Officer at NEC Capital
Solutions. "SiTime's timing solutions, based on game-changing silicon
MEMS and analog technology, are revolutionizing the $5 billion timing
market. SiTime has a remarkable market opportunity and we are excited
to participate in SiTime's future growth."  
"MEMS timing solutions are the inevitable future of the timing
industry because they use silicon. Electronics companies worldwide
are rapidly adopting SiTime's solutions -- we have shipped 175
million units to 1000 customers worldwide, including 35 Fortune 500
companies. With our recent introduction of oscillators for
smartphones, we expect to accelerate the rate of adoption of MEMS
timing solutions," said Rajesh Vashist, CEO at SiTime. "We are
pleased that NEC Capital Solutions and HTGC recognize the tremendous
potential of MEMS timing technology." 
About SiTime
 SiTime Corporation, the fastest growing semiconductor
company, is revolutionizing the $5B timing market with silicon MEMS
timing solutions that replace legacy quartz products. With 80% market
share and over 175 million devices shipped, SiTime is driving the
electronics industry to use 100% silicon-based timing. 
SiTime's configurable solutions enable customers to differentiate
their products with higher performance, reduced size and better
reliability. The rich feature set and flexibility of our solutions
allows customers to consolidate their supply-chain, reducing cost of
ownership and time to market. By using standard semiconductor
pr
ocesses and high volume plastic packaging, SiTime offers the best
availability and shortest lead times in the industry. 
Top-tier manufacturers are experiencing these benefits and recognize
SiTime as The Smart Timing Choice(TM). 
About NEC Capital Solutions
 NEC Capital Solutions was established in
November 1978 as a specialist in sales financing for NEC Corporation
(NEC), a leading Japanese electronics enterprise. The sole financial
services specialist of the NEC Group in Japan, the Company provides a
wide variety of services centering on leasing, underpinned by
strengths in information and communication technology equipment and
businesses focused on the public sector. 
About Hercules Technology Growth Capital
 Hercules Technology Growth
Capital, Inc. (NYSE: HTGC) ("Hercules") is the leading specialty
finance company focused on providing senior secured loans to venture
capital-backed companies in technology-related markets, including
technology, biotechnology, life science and energy and renewables
technology industries, at all stages of development. Since inception
(December 2003), Hercules has committed more than $3.9 billion to
over 250 companies and is the lender of choice for entrepreneurs and
venture capital firms seeking growth capital financing.  
Contact:
Piyush Sevalia
Executive Vice President, Marketing
SiTime Corporation
408.331.9138
psevalia@sitime.com 
 
 
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