Gobi Partners invests undisclosed amount in SkyeChip in boost to Malaysia’s IC chip design ambitions

• Funds will support talent growth, expansion, and working capital
• Gobi’s investment underscores SkyeChip’s rapid growth in the chip design market

Asian Venture Capital firm, Gobi Partners, based in Malaysia and Hong Kong, has invested an undisclosed amount in SkyeChip, a rapidly growing semiconductor integrated circuit (IC) design company based in the heart of Malaysia’s semiconductor ecosystem, Penang. The investment was made through the Khazanah Nasional-backed Gobi Dana Impak Fund, as well as Gobi’s regional funds, which are supported by leading domestic and international institutions. The Gobi Dana Impak Fund is part of Khazanah’s US$1.36 billion (RM6 billion) Dana Impak Fund that was launched in 2022.

When reached for comment, Fong Swee Kiang (SK), who co-founded Skyechip in 2019 with and Teh Chee Hak and around 30 other experiened semiconductor engineers, said he was unable to share details about the funding due to binding non-disclosure agreements. The founders bring a combined 50+ years of semiconductor industry experience at both the technical and management levels, with 32 of those years spent at Intel, with stints in the US and Malaysia. Today Skyechip has grown to over 330 engineers with a combined patent credit of over 102 US patents granted. The vast majority of the patents were developed in their previous stints with global semicon leaders. 

In a statement, Gobi said the investment will support SkyeChip’s talent acquisition, business expansion plans, and working capital needs. It added that the move aligns with Khazanah’s Dana Impak mandate to support Malaysian companies contributing to technological innovation, social mobility, and long-term economic resilience through the enhancement of Malaysia’s semiconductor and advanced manufacturing ecosystem. SkyeChip’s proprietary intellectual property, commitment to research and development, and expansion into custom application-specific integrated circuit (ASIC) design will strengthen its market position while reinforcing Malaysia’s role in the global chip ecosystem.

SkyeChip specialises in silicon intellectual property and custom ASICs, designing semiconductors for advanced applications such as artificial intelligence (AI) and high-performance computing (HPC). Gobi’s investment reflects the company’s rapid rise in the chip design market, having established a strong presence just a few years after its founding.

According to Gobi, the increasing international demand for Southeast Asian-based designers like SkyeChip, coupled with substantial growth in key end-markets such as AI and HPC, positions the company for long-term expansion. Additionally, Malaysia’s strategic location and evolving ecosystem make it an ideal hub for semiconductor innovation in the region.

Thomas G. Tsao, co-founder and chairperson of Gobi Partners, said: “We believe SkyeChip is well-positioned to capitalise on the rising demand for advanced semiconductor solutions, particularly in AI and HPC applications. SK and Chee Hak have built a formidable business at the cutting edge of IP and IC design, and we look forward to working with them through their next stage of growth.”

Hisham Ibrahim, executive director at Gobi Partners, added: “We are proud that SkyeChip has chosen to partner with us, and we believe our investment will help SkyeChip expand its impact and contribute to the growth of Malaysia’s semiconductor industry.”