For those seeking access to Lightmatter, one of the leading private companies in AI data center infrastructure and a partner in NVIDIA’s chip-connection ecosystem, we have an SPV in the current round at 0/0 — no management fee, no carried interest.
Lightmatter builds hardware that moves data between chips using light instead of copper wire. As AI clusters have grown, the constraint has shifted from raw computing power to the cost and power draw of connecting the chips together. Lightmatter builds the full system rather than a single part, and its technology is designed into the chip itself, which makes it difficult to swap out once adopted. Its products moved into customer testing this year with three of the major chip manufacturing and packaging firms.
The investment memo includes:
Company background, founding history, and why this technology matters now
How the products work and how they compare to the conventional approach
Manufacturing partnerships and where each product sits in the customer testing process
Named customers and current order activity
Management’s financial projections, including revenue, margins, and profitability
Full offering terms — structure, valuation, price per share, one-time fee and timing
Competitors and the principal risks
We also have direct shares available for those not interested in SPV.