Clydesdale Bank commits growth finance for CamSemi

Cambridge semiconductor company CamSemi has secured a growth finance deal from Clydesdale Bank ahead of further product launches later this year.

The business, which has offices in Taiwan, China, Hong Kong and Korea, is a supplier of power management integrated circuits for a number of networking, consumer electronics and mobile phone companies.

Financial details of backing have not been disclosed, but the bank’s package provides debt and working capital, as well as transactional banking services such as interest rate hedging and currency management.

Professors Gehan Amaratunga and Florin Udrea founded the company in 2002 after developing the technology at Cambridge University. The business’s circuits make power conversion in consumer electronic gadgets more energy efficient and reduce the amount of power used by a device on standby.

In May 2008, CamSemi closed a Series C round and extension totalling $34 million (£20.8 million). Investors include DFJ Esprit’s Encore Ventures, Scottish Equity Partners, TTP Ventures, Carbon Trust Investments and BankInvest. The company was awarded University Spin-out of the Year at the 2009 Rosenblatt New Energy Awards.

David Baillie, chief executive of CamSemi comments, ‘Clydesdale Bank’s Growth Finance offering has been secured on excellent terms and is very well suited to our need to service unprecedented customer demand while developing more integrated and higher performance next generation products for launch later this year.’

Graeme Sands, head of Growth Finance for Clydesdale Bank, adds, ‘At a certain stage in a company’s development we can blend an appropriate level of senior debt alongside equity. CamSemi’s very strong track record and sales growth in large and rapidly growing markets along with their extensive portfolio of Intellectual Property is an ideal fit with our product offering.’

Todd Cardy

Adelbert Swaniawski

Todd was Editor of between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital. Connect with...

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