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Thiel Capital’s Jack Selby nabs stakes in hot startups like Etched throughArizona connections
Jack Selby of Thiel Capital's Copper Sky invested in semiconductor startup Etched, which has secured its first chip from TSMC. As it prepares for production, challenges remain due to strict capacity at TSMC's Taiwan plants. Selby aims to support reshoring chip production to Arizona while also targeting investments in higher-priced coastal companies.
Key points
- Etched, valued at $5 billion, announced its first chip from TSMC.
- Copper Sky Capital invested in Etched's $120 million Series A two years ago.
- Selby promises to help Etched reshore chip fabrication to Arizona.
- Etched faces competition for limited manufacturing capacity at TSMC.
- Selby is a board member of the Arizona Commerce Authority, enhancing local economic ties.
- Copper Sky is raising a $300 million second fund to invest in hardware and defense companies.
Why it matters
- The trends of reshoring semiconductor production link to global supply chain issues exposed during the COVID-19 pandemic.
- The growth of startup ecosystems in non-traditional hubs like Arizona reflects ongoing changes in tech investment patterns.
- Etched’s focus on production aligns with the push for semiconductor self-sufficiency in the U.S., especially given recent geopolitical tensions.
Selby's investment strategy highlights a significant shift in venture capital toward regional manufacturing, promoting Arizona's tech ecosystem while confronting the challenges of scaling chip production in a competitive market.