NXT Capital’s Venture Finance Group has provided a $12 million subordinated venture loan to Magnum Semiconductor Inc. The money will be used for growth. Based in Milpitas, California, Magnum is backed by August Capital, Investcorp Technology Ventures, Investor Growth Capital, Advanced Equities and The Camelot Group.
NXT Capital’s Venture Finance Group today announced that it has provided a $12 million subordinated venture loan to Magnum Semiconductor, Inc. The capital will be used to fuel the company’s global growth initiatives.
Magnum is a market and technology leader in video, audio and data compression for broadcast infrastructure networks. It develops fully integrated semiconductor and software solutions for all broadcast segments from contribution through distribution and cloud processing. Magnum’s customers include many of the leading broadcast system vendors worldwide.
Headquartered in Milpitas, California, Magnum is backed by August Capital, Investcorp Technology Ventures, Investor Growth Capital, Advanced Equities and The Camelot Group.
“The NXT Capital Venture Finance team took the time to truly understand our business,” said Gopal Solanki, President and CEO of Magnum. “NXT provided a highly flexible subordinated term debt facility that integrates perfectly with Magnum’s current capitalization structure and anticipated future working capital needs. We look forward to a continued relationship with NXT Capital.”
“Magnum Semiconductor provides cutting-edge technology solutions that address the bandwidth constraints of today’s broadcast networks,” said Peter Fair, Managing Director, NXT Capital Venture Finance. “As viewers demand over-the-top mobile and high-definition broadcast solutions, Magnum is poised to further cement its role as the market leader. We are excited to partner with such a high-caliber management team and investor group.”
ABOUT NXT CAPITAL VENTURE FINANCE:
NXT Capital Venture Finance serves entrepreneurs by providing less dilutive, more flexible forms of capital. With offices in Boston and Silicon Valley, NXT Capital Venture Finance offers senior and subordinated term loans in the $1 million to $20 million range to emerging growth companies backed by venture capital and private equity firms, particularly those in the technology and life science sectors. Target clients range from pre-revenue companies led by dedicated entrepreneurs to late-stage, proven businesses seeking more efficient growth capital. For more information, see www.nxtcapital.com/venture-finance.
ABOUT NXT CAPITAL:
NXT Capital provides structured financing solutions to middle-market and emerging growth companies, as well as real estate investors, through its Corporate Finance, Venture Finance and Real Estate Finance groups. Based in Chicago with offices in New York, Atlanta, Boston, Dallas, Newport Beach and Silicon Valley, NXT Capital targets senior financing opportunities up to $150 million with a hold size up to $50 million. See www.nxtcapital.com.
ABOUT MAGNUM SEMICONDUCTOR:
Founded in 2005, Magnum Semiconductor is a leading provider of silicon, modules, software and IP for the professional broadcast infrastructure market. Magnum provides top of the line products, tools and technologies for the entire video content creation and distribution chain, from contribution and production through distribution over cable, Satellite and IPTV to Over-the-Top video streaming.