Deal round up 31/07/02

Quester leads £6m Antenova investment; 3i backs SafeStone second round

Quester leads £6m Antenova investment

Quester Capital Management and Cambridge Gateway Fund have led a consortium investment of £6m in Antenova, a leader in directional antenna technology. This second round of funding is almost double the size of the first round raised in 2001 and is aimed at financing the firm until the debut of its technology in commercial products in 2003.

All of Antenova's major investors from the first round – Quester, Cambridge Gateway Fund, Nippon Investment Fund and FNI (the venture fund of the Nixdorf family) – have committed to this second round. Yasuda Enterprise Development Co. Ltd of Japan has also joined this round as a new investor.

3i backs SafeStone second round

SafeStone Technologies, a UK secure system and user management company, has secured $4m of second round funding. The funding was secured from global internet security firm Symantec as well as 3i and other previous investors from Safestone’s first round financing in January 2000.

The original investment team comprised 3i, SFK99-Rahasta Ky, MeVC Draper Fisher Jurvetson Fund 1, Cross Atlantic Technology Fund LP, Crucible LLC and Larkfield. SafeStone will use the financing to expand its solution offering and business model, including the development and launch of the company’s new secure user management technology, AxcessIT