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FINANCE | Investment Firms & Funds
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Investments

108

Portfolio Exits

22

Funds

7

Service Providers

1

About Millennium Technology Value Partners

Millennium has been a pioneer, innovator, and leader in developing institutional-quality alternative liquidity programs for companies and shareholders in the venture capital ecosystem, partnering with the world's leading technology companies to design investment structures that foster long-term growth from growth capital to debt financing and secondary liquidity.The firm has close to $1 billion in assets under management, and has completed more than 300 investments that include Facebook (FB), Twitter (TWTR), Tumblr (YHOO), Zappos (AMZN), Tellme (MSFT), Epocrates (ATHN), Chegg (CHGG), Lookout, Good Technology, BeachMint, HauteLook (JWN), GreenDot (GDOT), NetSpend (TSS), ETF Securities, Tremor (TRMR), LegalZoom, Wayport (T), RigNet (RNET), iPass (IPAS), Airvana (SAC), HootSuite, ArcSight (HPQ), ID Analytics (LOCK), Datapipe (acquired), PlaySpan (V), Alibaba Group, and many others.Millennium's most recent fund, Millennium Technology Value Partners II, is the largest fund focused on providing alternative liquidity solutions to shareholders of venture-backed companies. In addition to its leadership in secondary investing, Millennium also provides flexible capital solutions to high-growth companies. Based in New York, Millennium is led by its founding partners Samuel Schwerin and Daniel Burstein.

Millennium Technology Value Partners Headquarter Location

32 Avenue of the Americas 17th Floor

New York, New York, 10013,

United States

646-521-7800

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Millennium Technology Value Partners Web Traffic

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Latest Millennium Technology Value Partners News

AI Chip Company Syntiant Raises $55 Million to Accelerate Growth

Mar 28, 2022

Irvine, California, UNITED STATES IRVINE, Calif., March 28, 2022 (GLOBE NEWSWIRE) -- Syntiant Corp., a provider of deep learning solutions making edge AI a reality for always-on voice, sensor, audio and image applications, today announced that it has closed $55 million in new funding, bringing the total investment to more than $100 million since the company’s founding in 2017. Renesas Electronics Corporation (TSE:6723), Millennium Technology Value Partners and Mirae Asset Capital are among five new investors. Existing investors also participated in the raise. “We are at a pivotal point of our company’s growth and development, having shipped more than 20 million of our Neural Decision Processors as global market demand for edge AI rises among device manufacturers,” said Kurt Busch, CEO at Syntiant. “We have built a strong customer pipeline that represents the leading suppliers, from earbuds to automobiles and most everything in between. This new round of funding will help us expedite full production deployments among more than 50 current customer engagements, as our technology continues to make edge AI accessible to any battery-powered device.” In July 2021, Syntiant and Renesas Electronics Corporation announced a collaboration for a voice-controlled multimodal solution with Renesas’ RZ/V Series MPUs and Syntiant’s NDP120 Neural Decision Processor™ (NDP) that enables low-power contactless operation for image processing in vision AI-based IoT and edge systems. “Our investment in Syntiant further demonstrates the synergies between our companies as we work together to deliver combined edge AI solutions to customers globally,” said Sailesh Chittipeddi, EVP, GM of IoT and Infrastructure Business Unit at Renesas. “By leveraging Syntiant’s leadership position in deep learning edge compute, our collaborations are enhancing user experiences through advanced AI-based voice and vision processing solutions across many use cases, such as security systems, personal devices, industrial and manufacturing, transportation and logistics.” “We have researched dozens of edge AI chip companies, and Syntiant is the first we have seen to develop a software-centric turnkey solution that is already being deployed at scale,” said Jay Chong, partner at Millennium Technology Value Partners. “When it comes to semiconductors, benchmarking hardware performance is always important, but ease of integration and implementation are equally important.” The new funds will be used for enhancing software capabilities, as well as accelerating deployment of the company’s third-generation Syntiant Core 3™ architecture, which Syntiant expects to introduce next year. Syntiant is backed by some of the world’s leading strategic and financial investors, including Intel Capital, Microsoft’s M12, Applied Ventures, Robert Bosch Venture Capital, the Amazon Alexa Fund and Atlantic Bridge Capital. Additional Investor Accolades “We continue to be excited by Syntiant’s leadership in AI at the IoT edge and the variety of new product experiences Syntiant customers will bring to market in 2022 and beyond,” said Samir Kumar, managing director of M12, Microsoft’s Venture Fund, and member of Syntiant’s board of directors. “Syntiant’s deep learning solutions are setting the standard for highly accurate, low-power inference in edge IoT products such as our recently introduced spexor mobile alarm device, which combines a wide range of safety features, including intrusion detection, into one portable security assistant,” said Luis Llovera, managing director at Robert Bosch Venture Capital. “We see great opportunities with Syntiant, not only as a portfolio company, but also as a global technology provider.” “We have actively invested in the global edge AI processor market for nearly a decade and always have been impressed with Syntiant’s stellar technology, team and products,” said David Lam, general partner of Atlantic Bridge Capital. “We are delighted to continue investing in the company to fund innovations in its edge computing architecture for consumer and industrial IoT applications, and to support Syntiant’s rapid growth in unit shipments and sales.”  “We are thrilled to be expanding our investment in Syntiant as they continue to be at the forefront of driving large scale adoption of AI at the edge,” said Robey Miller, partner at Alpha Edison. “We have had the privilege of working closely with Syntiant’s executive team for several years and have been consistently impressed by their pace of innovation and ability to build a culture of operational excellence. Syntiant is uniquely positioned to be the NVIDIA of edge applications.”  Delivering a Natural Interface Turnkey Solution for Low-Power Edge AI Deployment Syntiant designed its technology as a complete turnkey system by combining purpose-built silicon with an edge-optimized data platform and training pipeline, bringing cloud-free advanced machine learning solutions to the edge of the network, enabling mission-critical and time-sensitive decisions to be made faster, more reliably and with greater security. The company’s Neural Decision Processors™ allow edge devices to hear, speak, see and feel in a wide range of domains such as earbuds, wearables, smartphones, smart speakers, laptops, automobiles and other IoT consumer and industrial use cases. Syntiant NDPs typically offer more than 100x efficiency improvement, while providing a greater than 10x increase in throughput over current low-power MCU-based solutions, subsequently enabling larger networks at significantly lower power and greatly increasing battery life, while simultaneously decreasing infrastructure costs. “Syntiant always has been ahead of the curve with our deep learning technology, while we continue to execute on the company’s growth strategy,” added Busch. “Edge AI is inevitable, and we are seeing current product market trends catch up to our technology, especially among our largest customers, which are expanding their deep learning deployments across new industrial and consumer applications.” About Syntiant  Founded in 2017 and headquartered in Irvine, Calif., Syntiant Corp. is a leader in delivering end-to-end deep learning solutions for always-on applications by combining purpose-built silicon with an edge-optimized data platform and training pipeline. Syntiant’s advanced chip solutions merge deep learning with semiconductor design to produce ultra-low-power, high performance, deep neural network processors for edge AI applications across a wide range of consumer and industrial use cases, from earbuds to automobiles. The company is backed by several of the world’s leading strategic and financial investors including Intel Capital, Microsoft’s M12, Applied Ventures, Robert Bosch Venture Capital, the Amazon Alexa Fund and Atlantic Bridge Capital. Syntiant continues to be recognized as an industry leader, being named to Gartner's Cool Vendors in AI Semiconductors; tinyML Summit’s Best Product of the Year; Fast Company’s prestigious list of the World’s Most Innovative Companies; as well as a CES® Innovation Awards Honoree and CES® Best of Innovation Awards Honoree. More information on the company can be found by visiting www.syntiant.com or by following Syntiant on Twitter @Syntiantcorp . Media Contact:

Millennium Technology Value Partners Investments

108 Investments

Millennium Technology Value Partners has made 108 investments. Their latest investment was in Strella Biotechnology as part of their Series A on June 6, 2022.

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Millennium Technology Value Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/7/2022

Series A

Strella Biotechnology

$8M

Yes

4

3/28/2022

Series C - II

Syntiant

$55M

Yes

2

1/26/2022

Series C

May Mobility

$83M

No

9

6/7/2021

Series A

Subscribe to see more

$99M

Subscribe to see more

10

4/22/2021

Series D

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/7/2022

3/28/2022

1/26/2022

6/7/2021

4/22/2021

Round

Series A

Series C - II

Series C

Series A

Series D

Company

Strella Biotechnology

Syntiant

May Mobility

Subscribe to see more

Subscribe to see more

Amount

$8M

$55M

$83M

$99M

$99M

New?

Yes

Yes

No

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

4

2

9

10

10

Millennium Technology Value Partners Portfolio Exits

22 Portfolio Exits

Millennium Technology Value Partners has 22 portfolio exits. Their latest portfolio exit was Inspirato on February 14, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/14/2022

Reverse Merger

$99M

5

1/24/2022

Acquired

$99M

8

11/3/2021

Acquired

$99M

17

10/13/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

5/6/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

2/14/2022

1/24/2022

11/3/2021

10/13/2021

5/6/2021

Exit

Reverse Merger

Acquired

Acquired

Acquired

Acquired

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

5

8

17

10

10

Millennium Technology Value Partners Fund History

7 Fund Histories

Millennium Technology Value Partners has 7 funds, including Millennium New Horizons I LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/23/2019

Millennium New Horizons I LP

Secondary Direct/Portfolio

Open

$51M

1

12/31/2012

Millennium Technology Value Partners Master

Subscribe to see more

Subscribe to see more

$99M

10

4/26/2010

Millennium Technology Value Partners II

Subscribe to see more

Subscribe to see more

$99M

10

4/2/2006

Millennium Technology Value Partners I

Subscribe to see more

Subscribe to see more

$99M

10

1/1/2000

Millenium Technology Ventures LP

Subscribe to see more

Subscribe to see more

$99M

10

Closing Date

1/23/2019

12/31/2012

4/26/2010

4/2/2006

1/1/2000

Fund

Millennium New Horizons I LP

Millennium Technology Value Partners Master

Millennium Technology Value Partners II

Millennium Technology Value Partners I

Millenium Technology Ventures LP

Fund Type

Secondary Direct/Portfolio

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Open

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$51M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Millennium Technology Value Partners Service Providers

1 Service Provider

Millennium Technology Value Partners has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

Millennium Technology Value Partners Team

6 Team Members

Millennium Technology Value Partners has 6 team members, including current Founder, Managing Partner, Samuel L. Schwerin.

Name

Work History

Title

Status

Samuel L. Schwerin

Founder, Managing Partner

Current

Jonathan Glass

Greenbriar Equity Group

Chief Financial Officer

Current

Daniel L. Burstein

Managing Partner

Current

Max Chee

Mellon Ventures

Managing Partner

Former

Richard A Kimball

Managing Partner

Former

Name

Samuel L. Schwerin

Jonathan Glass

Daniel L. Burstein

Max Chee

Richard A Kimball

Work History

Greenbriar Equity Group

Mellon Ventures

Title

Founder, Managing Partner

Chief Financial Officer

Managing Partner

Managing Partner

Managing Partner

Status

Current

Current

Current

Former

Former

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