Sequoia Capital bets big on chips

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Sure seems like valley VC powerhouse Sequoia Capital has been on an investing tear recently. Two deals were announced yesterday, both in the semiconductor space. Greenfield Networks, of Sunnyvale, said it raised $21.5 million in a third round of venture backing, where Sequoia participated with other venture firms to reinvest in a company it had already backed. Greenfield’s Ethernet switch silicon technology directs voice, video and data traffic over enterprise and metro networks.

Sequoia also invested in Provigent, of Los Altos, a fabless semiconductor company. Provigent makes system-on-a-chip technology for broadband wireless transmissions. Sequoia led the $8 million round as a new investor, bringing the Provigent’s total backing to $19 million. It was the third round.

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