Chipidea secures 12M Euro in Series B Funding

Update: MIPS Technologies Acquires Chipidea (August 27, 2007)

Lisbon – May 16, 2005. Chipidea, the leading analog and mixed-signal semiconductor solutions provider, today announced that it has closed a Series B funding round for a total of 12M Euro led by Kennet Venture Partners. Kennet was joined in this round by Vision Capital and Chipidea’s Series A investors BCP Capital and BPI/Fundo Caravela.

Chipidea has developed the most advanced and complete analog and mixed-signal technology portfolio in the world, ranging from precision single-function blocks to full analog sub-systems for wireless, wireline communications and connectivity, multimedia and power management. Founded in 1997, Chipidea has demonstrated profitable, double-digit growth each year since inception and now employs over 180 people in its research and development, and sales and marketing offices across Europe, Asia and North America.

“José Franca and his colleagues have built a world class semiconductor IP business using very little external capital” said Michael Elias of Kennet Venture Partners. “Kennet specializes in providing expansion financing to capital-efficient business with global opportunities. We are therefore delighted at the opportunity to invest in Chipidea and help take it to it next level of development.”

Historically Chipidea has been funded with a combination of reinvested profits and external capital, provided by two strategic industrial investors and two financial investors, both leading Portuguese institutions – BCP Capital and BPI/Fundo Caravela.  Chipidea will use the proceeds of this financing to further expand its IP business and to launch a number of its own strategic products under a fabless model.

“We are delighted to welcome Kennet and Vision as financial partners to Chipidea. This investment will enable us to consolidate our leadership position in the analog and mixed signal market”, said José Franca, Chipidea’s co-founder and CEO.

Brendan Richardson of Vision Capital commented “Chipidea has a very strong blue chip customer base that drives Chipidea growth in analog. Indeed, Chipidea’s rapid growth and success is underpinned by its blue chip customer base featuring the who’s who in the semiconductor industry. “

About Kennet Venture Partners:    

Kennet Venture Partners is a leading transatlantic venture capital firm, which invests in growth companies providing information technology products and business services that leverage information technology. Kennet offers expansion capital to firms that want to accelerate growth and build exceptional shareholder value in partnership with an experienced investor. Kennet Venture Partners acts as an advisor to Kennet I LP, a Jersey limited partnership, and to Kennet II LP, a Guernsey limited partnership. Kennet Venture Partners is authorised and regulated by the UK Financial Services Authority.
For more information: www.kennet.com

About Vision Capital:
 
Vision Capital is a Trans-Atlantic venture fund providing growth capital for leading technology companies. Vision invests in promising European and US technology companies and then takes an active, hands-on approach in expanding these businesses across the Atlantic.   For more information: www.visioncap.com

About BPI / Fundo Caravela:

Fundo Caravela is a private equity Fund providing development capital for innovative Portuguese Small and Medium Enterprises with strong growth potential and a solid and professional leadership. This Fund has a generalist approach in what regards its sector focus.

Raised in the end of 2002, Fundo Caravela is managed and owned in 50% by BPI Group, a Portuguese leading financial group. The remaining 50% of the Fund is owned by several institutional investors, among which is included the European Investment Fund. For more information: www.bpi.pt

About BCP Capital:   

BCP Capital is the wholly owned Private Equity and Venture Capital subsidiary company of  Millennium bcp investimento, the investment bank of BCP Group. It manages a portfolio mainly focused on Portuguese small and medium-sized companies with high-growth potential.  For more information: www.millenniumbcp.pt

About Chipidea:

Chipidea is the world’s number one analog/mixed-signal merchant technology supplier targeting fast-growing market segments like wireless communications, digital media and consumer electronics. Chipidea supports blue-chip customers across the globe, has an impeccable reputation for delivering high-quality products and is known for its reliable execution. Chipidea licenses its technology to leading companies in these and other key markets, delivering everything from precision single-function blocks to full analog sub-systems. Chipidea employs 180 people in its research and development, and sales and marketing offices across Europe, Asia and North America. For more information: www.chipidea.com