Investee Company – PowerDsine Ltd (Israel)
Investee Company Business – Develops software-controlled network power solutions
Type of Financing – Expansion
Equity Providers – DB Capital Venture Partners, Dain Rauscher Wessels Partners, Robertson Stephens Partners
Equity Leader (Individual) – Michael Patton (DB Capital Venture Partners)
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – $30 million
Total Deal Value – $30 million
Other Advisors – Tim Heffernan, Scott Berwitz, Vu Chung (KCSA)
Comments – Israeli-based PowerDsine, a designer and developer of software-controlled network power solutions has raised $30 million in expansion funding.
The deal was led by DB Capital Venture Partners, the venture capital arm of Deutsche Bank. Other investors in the round were Dain Rauscher Wessels Partners, Robertson Stephens Partners who arranged the round and several existing shareholders. PowerDsine plans to use the capital to develop its product Power over LAN? (local area network).
DB Capital Venture Partners is the private equity arm of Deutsche Bank. With $US7 billion of capital committed to private equity and a team of 150 dedicated professionals operating from offices worldwide, the company invests in equity and equity-related securities including venture capital, private equity, growth financing, leveraged buyouts, mezzanine and infrastructure. DB Capital Venture Partners focuses on growth telecommunications and technology companies in Europe and Israel.
Founded in 1994, PowerDsine designs and develops software-controlled power solutions which enable the delivery and distribution of operating power over converged communications networks. PowerDsine’s headquarters and R&D facilities are located in Hod Hasharon, Israel, near Tel Aviv. Its US subsidiary, PowerDsine, Inc., is based in Farmingdale, New York.
Michael Patton, managing director and co-head of DB Capital Venture Partners, who has joined PowerDsine’s Board of Directors said: “We are excited about the opportunity to work with the company and its excellent management team to support PowerDsine’s growth. As an active partner and lead investor, DB Capital Venture Partners brings specialised, strategic knowledge, in addition to its financial capital, that will enable PowerDsine to attain its full potential.”