Investee Company – PHS MEMS (France)
Investee Company Business Type – French micro-electronics company
Type of Financing – Expansion
Equity Providers – AXA Private Equity, SOFINOV (Lead Investors), ETF Group, Finove, IDI Group, Innovafrance and Thomson-CSF Ventures.
Equity Leader (Individual) – Vincent Gombault of AXA Private Equity, Pascal Voulton of SOFINOV
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – euro31 million
Total Deal Value – euro31 million
Other Advisors – N/A
Comments – PHS MEMS, a French micro electro-mechanical systems development company, has announced the completion of its third round of venture financing totalling euro31 million. The round was co-lead by AXA Private Equity and SOFINOV, while the ETF Group, Finove, the IDI Group, Innovafrance and Thomson-CSF Ventures also participated. This latest round of funding takes the total raised by PHS MEMS to over euro45 million.
PHS MEMS which was created in August 1998, specialises in the design, development and production of micro electro-mechanical systems (MEMS), for the wireless and optical communications industry. The company will use the funds to further expand its growing MEMS Design Center, its Sales and Marketing force, as well as its international presence.
Pascal Voulton, IT Investments Director of Sofinov who co-lead the deal, said: “MEMS represent one of the fastest growing technologies, particularly in the wireless and optical communications industry. As a co-leader in this significant round, SOFINOV confirms its active support of PHS MEMS, shown in the previous round”.
Commenting on the deal Alberto Martorell, President and chief executive officer of PHS MEMS said: “Micro-electromechanics and fiber will unleash a technology revolution of greater social and economic impact, through its multi-disciplinary nature and its complementarity with micro-electronics. PHS MEMS is positioned to become an indispensable partner to the design and manufacturing of leading-edge Telecom MEMS”.