Investee Company – PicoChip Designs Ltd (UK)
Investee Company Business Type – Designs semiconductors targeting the 3G mobile base station market
Type of Financing – First round
Equity Providers – Pond Venture Partners, Atlas Venture
Equity Leader (Individual) – Richard Irving (Pond Venture Partners), Graham O’Keeffe (Atlas Venture)
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – $7 million
Total Deal Value – $7 million
Other Advisors – Osbourne Clarke,Bristol acted for the company, SJBerwin acted for the investors.
Comments – Bath-based PicoChip Designs Ltd has secured $7 million in first round investment led by Pond Venture Partners, which was joined by Atlas Venture. The company designs semiconductors to target the 3G mobile base station market.
Mobile base stations will require continuous upgrades as standards continue to evolve and improved preformance is required. PicoChip has developed uniquely flexible chip technology allowing the development of base stations so mobile operators can cost effectively deploy and upgrade without the need to replace obsolete hardware.
CEO of Pond Venture Partners, Richard Irving said: “We believe Picochip’s combination of world-class silicon expertise and state-of-the-art wireless system knowledge gives them a unique edge in the turbulent world of next generation wireless systems.”