MTI floats ScreenTech

MTI Partners, the UK early-stage hi-tech VC, has floated ScreenTech on London’s AIM. ScreenTech, which specialises in developing technology for high definition, large screens, raised £8m following the IPO at a share price of 63p, giving it a market cap of £20.5m.

MTI first invested in the Cambridge-based business in 2000 when it lead a £2.5m funding round and participated in a number of follow on rounds, right up to the final one in March this year. QinetiQ Ventures and TTP Venture Managers co-invested in some of the rounds.

This is MTI’s second IPO of 2005, the first coming in March with the float of Sarantel, a designer and developer of antennae for mobile communications.