Pond sells Gigle Networks
Pond Ventures has sold Spain-based semiconductor business Gigle Networks to Broadcom Corporation.
- Published 13 January 2011 in Venture capital.
Pond Ventures has sold Spain-based semiconductor business Gigle Networks to Broadcom Corporation.
Gigle improves broadband access for consumer electronic devices. The company has R&D centres in Barcelona and Edinburgh, as well a sales and marketing office in California.
In addition to Gigle’s exit, the firm has sold US businesses Broadway Networks and 4Home to Finisar Corporation and Motorola Mobility respectively.
Charles Irving, co-founder and general partner of Pond, said that the firm has taken a different approach to the traditional venture capital model: “While venture capital firms traditionally generate the majority of their returns from a single portfolio company and write off the rest, our model is based on a majority of good exit returns; an industry-low number of write-offs for an early-stage fund; and upside opportunities from exits that deliver substantially higher-multiple returns.”