CoreOptics Inc

14 October 2002

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A consortium of four venture capital firms, consisting of Crescendo Ventures, Techno Venture Management (TVM), High Tech Private Equity and ETV Beteiligungsgesellschaft mbH, managed by Atila Ventures (Atila Ventures/ETV), has invested $21.5 (EUR 22.3m) in CoreOptics Inc, a Delaware-based component producer for the fibre optics industry. Previously Crescendo, TVM and others invested some $15m in CoreOptics in February 2001. Together the investors hold the majority of the companyâ€™s equity; Crescendo holds the largest stake, followed by TVM, High Tech and Atila Ventures/ETV.

Company

CoreOptics is legally structured as a Delaware Incorporated, but the research and development as well as most of the firmâ€™s senior management are located in Nuremberg, Germany. The firm was founded in February 2001 and employs around 50 staff. CoreOptics develops advanced transponder subsystems for next generation fixed line telecommunications systems that are using dense wavelength division multiplexing (DWDM), synchronous optical network/synchronous digital hierarchy (Sonet/SDH), asynchronous transfer mode (ATM) or internet protocol (IP) standards. CoreOptics products are optical transponders that multiplex electrical signals into optical 10 Gigabit or 40 Gigabit signals. They can be used in routers directing every kind of traffic, ranging from long-haul networks over metro and local area transport networks to last mile connections. Currently the firm is working to integrate IBM Microelectronicsâ€™ silicon germanium technology into its products.

People

Roeland Boonstopple arranged the round of funding on behalf of Crescendo Ventures, while Christian Clausen worked on behalf of Techno Venture Management, Christian SchÃ¼tte and Jan Gross on behalf of High Tech Private Equity and Roland Dennert for Atila Ventures/ETV. Dr Erich Hacker of High Tech Private Equity and Roland Dennert of Atila Ventures/ETV have joined the companyâ€™s board, Christian Clausen of Techno Venture Management has been member of the board since the previous round.