In one of the biggest European venture fundings ever, Plastic Logic raised $100 million in a fourth round led by Oak Investment Partners and Tudor Investment Corp. The money will be used to build a semiconductor plant in Germany, where the company can build chips out of plastic, rather than silicon.
The big winner in this up round is Amadeus Capital Partners, who along with Cambridge Research and Innovation Ltd. and Dow Chemical Co., provided Plastic Logic with initial funding of £1.75 million when it was spun out of Cambridge University six years ago. If the company can make good on its production plans, Amadeus will be in for a windfall.
Amadeus is one of Europe's most venerated venture capital firms. It's been able to leverage its close ties to Cambridge University to make successful investments such as Lastminute.com, Orchestream and Cambridge Silicon Radio. Amadeus co-founder Hermann Hauser, who was once ranked as Britain's 12th richest man, sits on Plastic Logic's board and would love to add a more recent hit to his already impressive track record.
For more on Plastic Logic's $100 million round, see:
Revere Radio
The Deal
Financial Times (registration req'd)
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