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Prelude (and Esprit) make a new investment in Newnham

July 19, 2006 -- Prelude Trust plc ('Prelude'), the investment trust that specialises in early stage, technology-based businesses, has added a new company to its portfolio, investing US$3.5 million (£1.9 million) in Newnham Technology ('Newnham'). Newnham, headquartered in Palo Alto, California with main R&D and product development activities in Cambridge, UK, is a fabless semiconductor company providing solutions for networking and/or connecting multiple displays to laptops and PCs.

This investment is part of a total US$13.25 million financing round being led by Prelude and the Esprit Capital fund alongside existing investors, Atlas Venture and Benchmark Capital. As a result Prelude now has a 13.5% shareholding in Newnham.

Commenting on the announcement, Alan Duncan of Esprit Capital Partners, who has joined Newnham's board said, 'Newnham's NIVO™ technology (Network In, Video Out), establishes a new standard for interactive true-colour networked displays seamlessly extending the rich PC user experience to multiple wire and wireless displays on a network. Newnham's first application for its NIVO technology in USB based products has attracted considerable industry interest and can be found in the latest universal docking stations being sold by Kensington, a leading computer peripherals company.'

He added, 'This is the first example of an investment where Prelude and Esprit have teamed up to lead a major new financing round for a later stage company. We have been tracking Newnham's progress for more than a year and are delighted to have now become shareholders in the company.'

Hamid Farzaneh, CEO of Newnham commented, 'Newnham's NIVO™ technology is well positioned to become the de facto standard for display networking and connectivity. This funding will allow us to expand our operations and accelerate further generations of our technology, enabling us to establish a leading position in a number of major new high volume markets. We are very pleased to have attracted investors of this calibre and look forward to working with them as the company's business expands and revenues start to ramp.'

About Esprit Capital Partners

Esprit Capital Partners ('Esprit') is the new independent venture capital fund manager created by the merger in June 2006 of the Prelude Ventures and Cazenove Private Equity teams. The combined team has invested in many of Europe's most successful venture exits of recent years, including the sales of KVS to Veritas, Alphamosaic to Broadcom, FillFactory to Cypress Semiconductor and DNA Research Innovations to Invitrogen.

Esprit has US$500 million of assets under management (including Prelude Trust plc and the Esprit Capital I fund) and has offices in London and Cambridge, UK.

Publisher Contact Information:

Prelude Ventures Limited
+44 (0)1954 288 090

Company profile of DFJ Esprit (formerly Prelude Ventures Ltd.)
Past press releases of DFJ Esprit (formerly Prelude Ventures Ltd.).


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