Deal round-up 13/05/02

Advent invests in Snell & Wilcox; E-millennium1 backs Altitude Software

Advent invests in Snell & Wilcox

Advent Venture Partners, a leading independent UK technology venture capitalist, announced today that it has invested £13m in Snell & Wilcox, a provider of digital image processing technologies for the broadcast industry, as part of a £23m funding package for the company.

The deal provides Snell & Wilcox with funds to accelerate the expansion of the business into new markets and develop the firm’s position as the technological leader within the image communication industry. The remainder of the £23m financing was provided as debt by Royal Bank of Scotland.

E-millennium1 backs Altitude Software

E-millennium1, the European venture capital firm, has led the latest funding round for Altitude Software, a software solutions provider based in Portugal. The latest financing round is worth E14m and has been provided by a range of existing shareholders including BPI, Intel Capital, Insight Venture Partners, Nesbic CTE Funds and Totta Finance.

Previous backers of the fund include BNP Paribas and Hicks Muse. E-millennium1 is a venture capital fund with an investment focus in the telecom, media and technology industries. The firm has total funds under management of E210m.