The power management chip company backed by Nokia's corporate venturing unit, reportedly nets a four times return for one of its long-term backers.
An investor in Summit Microelectronics, a power management chip company for mobiles backed by Finland-based mobile phone company Nokia’s corporate venturing unit, has reportedly made a four times return from its sale to semiconductor company Qualcomm last month.
Bessemer Venture Partners, which had invested in Summit 15 years ago, made the return, according to news provider Private Equity Hub.
Last year Summit raised $3.3m, according to a regualtory filing, which said the company could raise up to $5m, although contributing…
