Cipio Partners acquires West LB portfolio

Cipio Partners has acquired the venture capital portfolio of West STEAG Partners, a fund sponsored by WestLB AG and STEAG Electronic Systems AG. Financial details of the transaction were undisclosed. The portfolio, invested by West STEAG Partners since 2001, currently comprises seven direct investments, including a number of leading semiconductor capital equipment and communications technology companies in North America and Israel. Among these are Metara, Inc. (Sunnyvale, CA), a leading vendor of in-line chemical metrology to the semiconductor industry, and BridgeWave Communications, Inc. (Santa Clara, CA), a vendor of ultra-low cost gigabit wireless solutions for enterprise and carrier applications. Cipio Partners has led the transaction backed by major international fund-of-funds managers.

The purchase of West STEAG Partners represents a further acquisition by Cipio Partners, which is building a significant portfolio in the technology, media and telecommunications markets as well as select areas of the life sciences market, among others through its acquisition of the investment arm of Infineon Technologies, a global semiconductor manufacturer earlier this year.

Tom Anthofer, managing partner of Cipio Partners, said: “West STEAG is a high-quality set of venture assets with a clearly defined investment focus. We are delighted to continue the competent work by the West STEAG general partners and further assist the investees in executing their growth strategies.”

The transaction coincides with the opening of Cipio’s West Coast offices in the US.