Vancouver, July 18, 2006 - Zeugma Systems Inc., a venture-backed company developing a telecommunications system for next generation, high speed broadband networks, is pleased to announce that it has raised an additional US$2.25m in the second closing of a recently-disclosed venture capital financing. Participants in the second closing include BDC Venture Capital and Zeugma management and staff.
The new investors join Granite Ventures, Ventures West, Yaletown Venture Partners and GrowthWorks Capital in the round, bringing the total raised to US$15.75m. "We are very pleased to welcome BDC as an investment partner" said Andrew Harries, Zeugma Systems President and CEO. "BDC has an enviable track record in telecommunications investing and we look forward to tapping into their industry knowledge and resource network."
"BDC is thrilled to be able to support Zeugma's team of passionate entrepreneurs. We believe that their vision and deep domain expertise will propel them to become a leader in their market" said Jenny Yang of BDC.
About Zeugma Systems
Zeugma Systems Inc. is a venture-backed company developing intelligent solutions for next generation broadband networks. The company has attracted a strong team of industry professionals from companies such as Sierra Wireless, Redback Networks, PMC-Sierra, Cisco Systems, Nortel Networks as well as a number of domain relevant startups. The company's plans remain confidential as it moves towards its first commercial release.
About BDC
BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. BDC Venture Capital has been involved in venture capital since 1975 and has to date invested in more than 400 different companies. It currently manages approximately $500 million in venture capital assets invested in the areas of Life Sciences, Telecommunications, Information Technology, Advanced Technologies and Funds Investments. For more information, visit www.bdc.ca.
For further information email: or call 604 247 3252.