Cassium Technologies raises euro1.6 million

Investee company

Cassium Technologies (UK)

Investee company business type

Develops communication intranets, extranets and web solutions based around .net web services

Type of financing


Equity providers

Bamboo Investments and Close Technology & General VCT

Equity leader (individual)

James Stoddart, chief executive, Bamboo Investments

Debt provider


Debt type

Loan notes

Debt leader (individual)


Equity amount


Total deal value

€1.6 million

Other advisors

Management – Lawrence Jones, Michael Offer (legal); Equity – Osborne Clarke, London, Matthew Lewis (legal); PKF, Henry Fairpo, Tim Nicholas (financial due diligence)


Bamboo Investments has led a first round investment, with Close Technology & General VCT, managed by Close Venture Management, of €1.6 million in Cassium Technologies, a leading developer of communication intranets, extranets and web solutions based around .NET Web services. The investment is split between equity and loan notes in undisclosed proportions, with both investors contributing equal amounts.

Based in Twickenham, UK, and founded in February 2001, Cassium Technologies leverages its software and services with Microsoft products to create unique solutions that allow its clients to unify business processes and extend them via web services to their customers and suppliers. Cassium Technologies “Activ” software modules are integrated with the Microsoft product set to create business applications that can be immediately used in an enterprise-wide environment, enabling clients to improve communications and transactions with employees, partners, suppliers and customers.

Two new board members have been appointed, Alan Bates as non-executive Chairman and James Stoddart as non-executive director.

James Stoddart, chief executive of Bamboo Investments said: “Cassium is a strong player in the developing Web Services market. Bamboo and Close are backing CEO Paul Cosgrave and his excellent management team in an exciting fast growing sector of the technology marketplace.

Emil Gigov of Close Venture Management, commented: “We can see significant opportunities for Cassium going forward and are therefore confident that this investment will generate a healthy return for our investors.