Deal round-up 16/05/03

CDC-IXIS, BNP back French software funding; 3i joins electronic design round; VC firms lead Novaled round; European VCs back diagnostics business

CDC-IXIS, BNP back French software funding


Two French venture capital firms comprising CDC-IXIS and BNP-Europe Telecom & Media Fund 2 [ETMF 2], a fund advised by BNP Private Equity, have provided E3.5m of funding for Zandan, a software publisher based in Paris.


Zandan was created in April 2000. It develops and markets service solutions for the firms in the mobile Internet market including mobile operators and content providers. The third round of financing will be used to launch new commercial services.


ETMF 2 is a $195m fund advised by BNP Private Equity, a subsidiary of the BNP Paribas Group; it invests in telecom and media companies. The venture arm of CDC-IXIS,  CDC-IXIS Innovation, invests across a range of sector and has more than E350m under management.


3i joins electronic design round


3i, Credit Lyonnais Private Equity and Siparex Ventures are each contributing between E1m and E3m to a series A round for Emulation and Verification Engineering (EVE) SA, the Franco-American electronic design automation business that creates advanced verification products.


Funding will be used as working capital to build EVE’s research and development team, as well as for further expansion of its worldwide marketing, sales and support structure. In a related announcement, EVE appointed Robert Eckelmann, former Intel vice president and EMEA general manager, to EVE’s board of directors.


VC firms lead Novaled round


Novaled, which recently spun off from the Technical University of Dresden has secured E5.75m in first round financing from a consortium of international investors led by venture capital firms TechnoStart and TechFund Capital Europe. Additional investors included Dresden Fonds, TBG and Thomson, the media services and equipment group.


Proceeds from the investment will be used to develop and bring to the market the next generation of OLED display technologies, based on small molecule organic materials.


European VCs back diagnostics business


BMD, an advanced biological diagnostics business based in Marne-la-Valée, has raised E9.3m in its latest round of financing.


Lead investors for the round were Truffle Venture, Europe Innovation and Siparex Ventures, alongside AGF Private Equity, 123 Multinova, and original investors CDC IXIS Innovation, Auriga Partners, Sudinnova and Natexis Ventech. BMD raised E4.6m in its first round of financing in 2000.


The new financing will enable BMD to accelerate the development of its lead product, which the company hopes to become an instrumentation standard. The new funds will also allow BMD to boost its international commercial development, particularly in the US.