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EVE Secures $7.2 Million Second Round of Funding, Led by Auriga Partners
Series A Investors 3i, Credit Lyonnais Private Equity, Siparex
Also Participate in Financing to Support EVE's Expansion of
R&D, Sales and Support
SAN JOSE, Calif. & PALAISEAU, France—(BUSINESS WIRE)—June 24, 2004—
Advanced verification specialist Emulation and Verification
Engineering (EVE) today announced it has closed a second round of
funding totaling $7.2 million. The new investment will be used to
further grow EVE's business through expansion of its research and
development team, and to boost the company's worldwide sales and
support structure. In addition, EVE may be considering future
acquisitions as well.
This new round is being led by Auriga Partners, a venture capital
firm headquartered in France. Other participants include Rothschild,
as well as EVE's Series A investors 3i, a leading international
venture capital firm, Credit Lyonnais Private Equity and Siparex, who
have actively supported EVE in its business and Series B fund raising.
"We have been extremely impressed by EVE's team and product line,"
notes Philippe Granger, partner at Auriga and EVE's board member. "EVE
is well positioned to become a dominant player in the
hardware-assisted verification space, and we want to help it to reach
that goal sooner."
"This fund raising reflects the strong confidence of EVE's
investors in the team and the execution of its business objectives,"
remarks Pierre Martini, Associate Director at 3i, who has been
appointed to EVE's board of directors. "The company has achieved
tremendous results in sales, customers traction, high-level
recruitments, and product development. EVE has consistently
outperformed its development and sales targets over the past 18
months. We believe EVE is emerging as a category leader in the fast
prototyping and emulation market."
Dr. Luc Burgun, EVE's chief executive officer and president,
comments: "This additional funding will allow us to quickly add
resources to critical areas of our business and to adapt the company
structure to the strong demand generated by the recent announcement of
our new product line."
This week, EVE unveiled ZeBu-XL, a high-end prototyping platform
for large System-on-Chip (SoC) designs that boasts up to 48 million
application specific integrated circuit (ASIC) gates. It executes at
megahertz speed, mandatory for embedded software validation, supports
interactive and non-intrusive debugging, required for hardware
debugging, and sells at a cost of pennies per gate.
Adds Vincent Ollivier, investment manager at Credit Lyonnais
Private Equity, who has been appointed to EVE's board of directors:
"We have been impressed by the response of the designer community to
the introduction of the new ZeBu-XL product. This product has no
equivalent in the market place, especially in terms of early software
validation, and will enjoy a remarkable success."
Rob Eckelmann, former vice president of Intel and general manager
for EMEA, and EVE's board member, concludes: "I have been very
impressed by EVE's ability to address its clients needs on three
different continents. This company has the ability to grow heavily and
become a real international player in EDA."
About Emulation and Verification Engineering
EVE offers innovative intellectual property (IP) and
hardware-assisted verification solutions and verification engineering
services that accelerate the design of complex integrated circuits,
prevalent in the communications, wireless, networking, computer, and
consumer product markets. It has offices in San Jose, Calif.
Telephone: (408) 881-0440. Fax: (408) 904-5800. It also has offices in
Palaiseau, France. Telephone: (33) 1 64532730. Fax: (33) 1 64532740.
Email: info@eve-team.com. Web Site: http://www.eve-team.com.
About Auriga Partners
Auriga Partners is an independent venture capital firm. Based in
Paris, it invests in information technologies and life sciences, in
innovative high potential ventures, in seed or early development
stages, in Europe, North America and Israel. Auriga Partners manages
three funds for a total of more than 180 millions euros. Along with
investing the necessary capital, Auriga Partners brings also its
savoir-faire in developing and solidifying executive teams, organizing
companies, broadening their networks and forming strategic and
corporate partnerships. http://www.aurigapartners.com
About 3i
3i is a leading international venture capital company with U.S.
offices in Menlo Park, CA and Waltham, MA. Operating since 1945, 3i
has invested worldwide over $30 billion, including co-investment
funds, with a total staff of 800 employees operating out of over 28
offices in 14 countries. 3i leverages this worldwide presence to add
value to its portfolio companies and investment partners. In the
United States, 3i concentrates on early and late stage technology
investments in companies with the potential to be leaders in their
markets. Outside the USA, 3i invests broadly in buyouts, growth
capital and venture capital. Since opening its US businesses in 1999,
3i has become one of the most active early and late stage VCs in the
US. Visit 3i and its portfolio at www.3ius.com.. Contact: Sophie
Guezenec, +33 (0)1 47 15 11 00, sophie_guezenec@3i.com.
About Siparex Ventures
The venture capital activity accounts for one-third of SIGEFI
PRIVATE EQUITY / SIPAREX GROUP (EUR 788 million) assets under
management. SIGEFI PRIVATE EQUITY is one of the leading private equity
management companies in France. The "Group" first entered the venture
capital business in the United States, where it has been present for
15 years through its San Francisco office and has listed 11 companies
on the Nasdaq. In France, specialized funds finance start-ups,
operating in the areas of information technology, basic technology,
safety systems and life sciences. Siparex Ventures is also one of the
leading outside fund managers in France and manages 11 "FCPI"
innovation funds for well-known financial institutions. Siparex
Ventures' team is composed of 13 professionals based in Lyon, Paris
and San Mateo (California) some of them have a double Franco-American
culture and more than 15 years experience in venture capital. For more
information: www.siparex.com. Contact : Pascal Demichel at +33 (0)1 53
93 02 20.
About Credit Lyonnais Private Equity
Credit Lyonnais Private Equity is the asset management company of
the French bank Credit Lyonnais, dedicated to private equity
investments. The investment teams, including 24 professionals are
organized into three activity segments: Venture Capital, Expansion
Capital & LBO and Secundary Market. Founded in 2000, Credit Lyonnais
Private Equity manages EUR 632 million under French regulated mutual
funds (FCPR, FCPI) and proprietary investment accounts (Credit
Lyonnais Venture Capital and Credit Lyonnais Capital Investissement).
For more information: www.privatequity.creditlyonnais.com. Contact:
Nathalie Iehl, +33 (0)1 58 44 50 19, nathalie.iehl@creditlyonnais.fr.
EVE acknowledges trademarks or registered trademarks of other
organizations for their respective products and services.
Contact:
EVE
Lauro Rizzatti, 408-881-0440
lauro@eve-team.com
or
Marketing Manager for 3i US
Katja Gehrt, 650-470.3210
Katja_Gehrt@3i.com
or
Public Relations for EVE
Nanette Collins, 617-437-1822
nanette@nvc.com
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