Cronos Integrated Microsystems
Technology:
MEMS technology for optical, electrical and fluidic switching applications.
Challenge:
Spin out Cronos, a division of MCNC (a non-profit R&D center in Research Triangle Park) as a commercial for profit business while, at the same time, manage multiple parties with varied interests.
Solution:
RedShift Ventures worked closely with all parties for nearly a year - MCNC, the technical team, the commercial team, investors (original development investment was $20M from DARPA), and independent board members. Became the trusted advisor to all parties. Led negotiations for IP agreements, management compensation and spin out structure, helped recruit the commercial team and compiled the investor syndicate.
Result:
Ultimately, Cronos became quite successful and found itself in a bidding war with three competing acquisition offers. RedShift Ventures managed the sometimes competing and frequently stressful interests of all parties and guided Cronos to a successful sale that generated a 26X return on investment.