Sigefi Ventures profits from 2 exits in 2005

The two largest exits were CIRPACK (Suresnes, Hauts de Seine), which operates in the market of telephone network infrastructure and is the leader in soft switches (software switching platforms controlling calls, access terminals, and service apps). The “FCPI” funds managed by the Sigefi Ventures team invested EUR 0.9m in 2002. They sold that investment on the occasion of a trade sale to Thomson. The exit generated an IRR of 91.7% over three years and a multiple of 5.9. The capital gain on this disposal was nearly EUR 5m, in addition to which there was a substantial revaluation of the investment price.

DA-LIGHTCOM (Lannion, Côtes d’Armor) designs, manufactures, and commercializes optoelectronic components and assemblies for very high speed telecommunications networks (10 and 40 Gb/sec.). The fund Sudinnova II, which is managed by the Siparex Group, invested a total of EUR 1.5m in three financing rounds between July 2001 and February 2005. The exit took place on the market via a share swap with Highwave Optical, a company listed on the Nouveau Marché. It enabled FCPR Sudinnova II to realize a capital gain of EUR 1.4m, an IRR of 31.5% and a multiple of 1.9.

In addition, there has been a satisfactory rate of investments by the various venture capital vehicles of the Siparex Group, totaling EUR 10m as of 25 May 2005.

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• Exits
• Technology