Deal Round-up 27/06/01

3i, Index Ventures, Elderstreet, Goldman Sachs, Reuters Greenhouse Fund, GE Equity, Amadeus , Dresdner Kleinwort Capital and Interregnum back Mediasurface

Restructured Mediasurface wins £11.5m more

The content management software developer has received a further funding round from existing investors, made up of 3i, Index Ventures, Elderstreet, Goldman Sachs, Reuters Greenhouse Fund, GE Equity, Amadeus , Dresdner Kleinwort Capital and Interregnum. The £11.5m raised follows the £21m it received in May 2000 and takes the place of an IPO that had been mooted at the end of last year.

In May the company announced that it was reducing its staff by 30 [some 10 per cent of the work force] after the departure of CEO James Metcalfe. The new funding is to help it realise the latest suite of content management products and to drive expansion into new markets

Trevor Hope, Senior Investment Executive at 3i’s software and Internet team, commented: '3i is extremely proud to be the first investor and largest institutional equity holder. We are very impressed with the Company’s rapid growth that we have continued to invest in Mediasurface, bringing our total investment to £8.5 million.”