Deal Round-up 23/08/02

DrKC backs Azanda second round; Sixth investment for GI Ventures

DrKC backs Azanda second round

Dresdner Kleinwort Capital (DrKC) has participated in a second round of financing for Azanda Network Devices, a developer of silicon products, which takes the total funding round to $33m.

The latest tranche of financing, which totals $7m, has been provided by has received 75 Wall Street Technology Partners LP, a New York-based technology fund of DrKC, Parker Price Venture Capital, and China Development Industrial Bank.

Earlier this year, Azanda announced the first part of its second round financing from Bessemer Venture Partners, Commonwealth Capital Ventures, Goldman Sachs and Highland Capital Partners, all of which participated in the company’s first round financing, as well as an investment from Newbury Ventures. The latest funding brings to $43m the total capital investment in Azanda Network Devices since the company's inception in March 2000.

Sixth investment for GI Ventures

German venture capital firm GI Ventures has taken its holding in German battery firm Bullith Batteries AG, a German producer of lithium polymer batteries, to 30 per cent via an undisclosed investment.

The investment is the sixth to be made from GI Ventures’ GermanIncubator fund, and will enable Bullith, which specialises in the development of long life rechargeable batteries, to further develop its licensed lithium polymer Bullith Battery. Previous investments include B.Com, Se@rchBroker and UpGrade.

In June, the Munich-based seed and start-up investor announced plans to expand into the German-speaking buyout market. A E100m fundraising effort is underway.