SiGe Semiconductor Raises $66.4M in Financing

SiGe Semiconductor, Inc. completed a series B financing on December 20, 2002, which raised $66.4 million. SiGe supplies integrated circuits made with silicon germanium, producing smaller chips that use less power.

The financing round was led by TD Capital Technology Ventures. Other investors included U.S. investors 3i and Prism Venture Partners, and returning investors VenGrowth Capital Partners Inc., Business Development Bank of Canada, CDP Capital – Technology Ventures, Capital Alliance Ventures and the Canadian Science & Technology Growth Fund Inc.

As part of the transaction, SiGe reconstituted as a U.S. corporation and existing shareholders in Canada were issued exchangeable shares for shares in the new U.S. parent. New investors invested either in new U.S. parent shares or exchangeable shares of the existing Canadian company.

SiGe was represented by Fraser Milner Casgrain LLP in Ottawa, with a team that included Tom Houston, Andrea Johnson, Tom Reaume, Karen Shaver and Monique Lacasse. In the U.S., SiGe was represented by Brian Lenihan and Andrea Teichman of Hill & Barlow.

TD Capital, 3i and Prism were represented in Canada by Craig Wright and Karen Lee of Osler, Hoskin & Harcourt LLP in Ottawa, and in the U.S. by George Davitt, Elaine Hughes and Bryan Fecteau of Testa, Hurwitz & Thibeault, LLP in Boston. VenGrowth Capital Partners was represented in-house by Jay Heller, general partner, and by Ron Kosonic of Aird & Berlis LLP in Toronto, who also represented other existing shareholders.