Several venture capital firms, including Esprit Capital Partners, Atlas Venture and Index Ventures, have invested $16 million (€12 million) in software company VirtualLogix.
VirtualLogix manufactures technology for connected devices, enabling multiple operating systems to run together on shared hardware. The business has now raised a total of $28 million from venture capital and other investors.
Tom Bradley, partner at Esprit, said: “We were attracted to the business both because it’s in a cracking growth sector and because of its excellent management team.”
Atlas Venture and Index Ventures led the first financing round for VirtualLogix – investing $12 million in 2004.
It is Esprit’s second deal this week. PEO reported yesterday that the firm increased its investment in Dutch semiconductor business Xanadu Wireless to €2.7 million.
London and Cambridge-based Esprit Capital Partners has more than $500 million under management. Atlas Venture manages more than $2.1 billion with offices in Boston, London, Munich and Paris. Geneva-based Index Ventures has $500 million under management.