Highwave Optical secures E32m package

Highwave Optical, a listed optical telecommunications company based in France, has secured E32m funding from a group of venture capitalists.

A consortium of private equity firms has invested E32m into Highwave Optical Technologies, a company developing optical telecommunications networks listed on the Nouveau Marché in Paris.

Investors in the round include US venture capitalists Newbury Ventures and Technoventures with commitments of E11m each, both have previously invested. New investor DB Capital Venture Partners, the venture capital arm of Deutsche Bank, has come in with E9.95m. The money raised will be used to increase the company’s sales and marketing efforts, further product development and working capital.
Newbury has participated in all of Highwave's financing rounds, from the seed round in April 1998, up to the pre-initial public offering round in early 2000.

Newbury Ventures focuses on early stage communication and IT companies. To date, the company has invested more than $500m and been involved in around 100 investments. Technoventures has an interest in the communication sector in France.

DB Capital Venture Partners targets early stage companies in the US, Europe and Israel. It invests in the technology, telecommunications and healthcare services and devices sectors.