European VCs back advanced wireless broadband system

Investee Company – Cambridge Broadband Ltd (UK)

Investee Company Business Type – Broadband wireless equipment developer

Type of Financing – Expansion

Equity Providers – Gilde IT Fund, Amadeus Capital Partners, Kiwi II and TVM

Equity Leader (Individual) – Anton Arts

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – $15 million

Total Deal Value – $15 million

Other Advisors – CBL was advised by Tom McGuire of Martineau Johnson

Comments – Cambridge Broadband Ltd (CBL) was founded in January 2000, and received its first round of financing in June 2000. However, the company’s marketing and development team have been working together since 1993, pioneering the most successful broadband fixed wireless product in the US. Bringing their expertise over to the UK they have received significant support from European investors, receiving $5 million in their first round of financing and $15 million this round.

In this round CBL have attracted investors from four European Countries. First round investors Amadeus Capital, Kiwi II are based in the UK and Italy respectively and have been joined by Gilde IT Fund based in the Netherlands and TVM based in Munich and Boston.

The $15million financing will be used to continue the company’s global market expansion and accelerate the roll-out of its broadband wireless technology.

Commenting on their investment Anton Arts, Partner, Gilde IT Fund, said: “The Cambridge Broadband team have engineered a system which offers true broadband performance without the high cost and short range issues which have undermined the broadband wireless business case to date. We believe that this is a very significant product with global potential.”