Royal Bank Ventures leads £15.6m tech investment

The firm has invested in RadioScape, a UK company developing software that enables mobile chip makers to reduce manufacturing costs.

Royal Bank Ventures (RBV), the technology venture capital fund of The Royal Bank of Scotland, has led a £15.6m investment in RadioScape, a UK-based company developing semiconductor intellectual property for the wireless and digital communications markets.

Other investors include Scottish Equity Partners, and existing investors Atlas Venture and Texas Instruments. The money raised will be used to expand the company’s operations. Founded in 1996, RadioScape is headquartered in London with offices in the US.

What attracted RBV to the company was its technology, said Gavin Petken, an investor director at Royal Bank Ventures. “RadioScape’s development addresses a fundamental problem faced by many semiconductor manufacturers looking to enhance the power and complexity of their wireless solutions to meet market demand,” he said.

RadioScape has developed software that enables chip manufacturers to test designs for next generation wireless devices, without having to commit to production, this reduces the expensive waste of silicon producers face when testing chips.

In September Royal Bank Ventures invested around E10m in elata, a company developing Java-based mobile data software.

The firm is part of the Royal Bank of Scotland’s private capital effort that also comprises Natwest Development Capital, Royal Bank Private Equity and RBS Property Ventures.