US-based semiconductor manufacturer GCT yesterday registered for an initial public offering (IPO) with the US Securities and Exchanges Commission. The number and price of the shares offered has yet to be determined.
Among GCT’s corporate stakeholders are Korea-based conglomerate Samsung’s corporate venturing unit, Samsung Ventures, US-based semiconductor companies National and Pericom, Mizuho Venture Capital and UOB Venture Management, each the corporate venturing units of their respective banks, and telecommunications company UT Starcom.
According to the filing, the two largest venture shareholders are venture capital firm Parakletos Ventures, which owns 31% of the GCT’s stock, and private equity firm Firstmark Capital, which owns 13.6%.
Parakletos invested in GCT’s series B and D rounds and was the sole investor in its latest round of funding, in April 2009. Firstmark invested in GCT’s series C and D rounds, when it was still known as Pequot Ventures.
GCT’s central expertise lies in single-chip fabless semiconductors for fourth-generation (4G) wireless networks. Its gross profits nearly tripled year-on-year to $23.8m, in 2011, according to information in the filing.