CamSemi (United Kingdom) - Nov 2007

unquote
01 November 2007

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3i has led a $26m series-C financing round in fabless semi-conductor company CamSemi. 3i had previously led a $6.1m first round of funding in 2002, investing $2.8m alongside contributions from TTP Ventures and Scottish Equity Partners (SEP) of $2.1m and $1m respectively. All existing shareholders participated in this latest financing, with 3i investing just under $4m. The transaction also includes an investment of $4m from new investors Carbon Trust Investments and was supported with a debt package supplied by ETV Capital. The new capital will be used to drive organic expansion through the implementation of sales support infrastructure in South East Asia, with an allocation for on-going product development and working capital.

Company

Cambridge-based CamSemi is a specialist developer of sophisticated integrated circuits that enable the manufacture of smaller, cheaper and more power-efficient mains-connected converters and battery chargers for consumer electronic products. The technology has the potential to deliver a 90% reduction in standby energy efficiency and a three-fold reduction in operating mode losses. The company span out from the University of Cambridge’s department of engineering in 2002 and has recently launched its first product.

People

Laurence Garrett led the transaction for 3i, while David Gee, Andrew Davison and Adam Workman represented TTP Ventures, SEP and Carbon Trust Investments respectively. David Baillie is CEO of CamSemi.

Advisers

Company - Eversheds, Robert Matthews (Legal)Equity - Osborne Clarke, Robert Wood (Legal)

Sourced from: unquote unquote" 356 (Nov 2007)