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Arcapita Ventures Co-Leads A
$50 Million Financing In Navini Networks, Inc.
Other topics: Bilateral Wi-Fi
Roaming Access, WiMAX Interoperability
Testing, WiMAX Subscriber Growth,
Asian Wi-Fi Market,
Enhanced GPS Measurements
Arcapita Ventures,
May 22, 2007
Atlanta, GA -- Arcapita Ventures, the venture capital arm of
Arcapita Bank B.S.C.(c), announced today that alongside Austin Ventures,
it has co-led a $50 million Series F equity financing in Navini
Networks, Inc., a wireless access equipment provider. Joining Arcapita
and Austin Ventures in the round were existing investors Granite
Ventures, Investor Growth Capital, Lehman Brothers Venture Partners,
Sternhill Partners, Intel Capital and Motorola Ventures, along with a
new investment from Scottwood Capital. Tom Hawkins from Arcapita
Ventures will join the Navini Networks Board of Directors. |
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Navini Networks, Inc.,
headquartered in Richardson, TX, is the global leader in pre-mobile
WiMAX wireless broadband access solutions, and has implemented the
largest commercial deployments in the world. The Company’s patented
Smart WiMAX™ solution combines the Smart Beamforming technology
currently in commercial service around the world, with beamformed MIMO,
which can double the data throughput for mobile WiMAX subscribers.
The financing marks the fourth investment by Arcapita Ventures, and its
second investment in the communications sector. Tom Hawkins, a Director
with Arcapita Ventures, said, “Most sector analysts are recognizing the
tremendous growth potential in the global WiMax market, in which Navini
Networks is a clear leader. The company’s market leading mobile WiMAX
technology and experienced management team, as well as the anticipated
growth in mobile WiMAX, make this an excellent investment opportunity
for Arcapita Ventures.”
"Navini Networks has successfully developed its broadband wireless
solution and is ready for the mobile WiMAX market," said Roger Dorf,
President and CEO of Navini Networks. "Working with Arcapita will help
us as we expand our presence in the emerging WiMAX markets globally."
About Arcapita Ventures
Arcapita Ventures, the venture capital arm of Arcapita Bank B.S.C.(c),
partners with outstanding entrepreneurs to build market-leading
companies. Arcapita Ventures focuses on growth-stage enterprises across
the United States in the healthcare, information technology and
industrial technology sectors. Arcapita Bank, a leading international
investment firm with offices in Atlanta, London and Bahrain, has
completed 60 transactions with a total value exceeding $20 billion in
the venture capital, private equity, real estate and asset-based
markets. Contact Arcapita Ventures at (404) 920-9000, via e-mail at
vcapital@arcapita.com or on the web at www.arcapita.com.
About Navini Networks, Inc.
Navini Networks is the leader in providing portable, plug-n-play
broadband wireless access solutions, with the largest commercial
deployments in the world, over 70 commercial networks in 6 continents
and strategic partnerships with industry leaders. Navini is the only
company that has the patented Smart Beamforming technology, enabling
personal broadband for the mass market today, with a seamless upgrade to
the Mobile WiMAX standard to deliver Smart WiMAX™. (Smart WiMAX™ is the
combination of mobile WiMAX with Smart Beamforming & MIMO). Navini's
Ripwave® MX portable, zero-install™, non-line-of-sight (NLOS) solution
consists of customer modems, base stations, and element management
systems (EMS) that run in the full range of spectrums with software
upgrades to the IEEE 802.16e standard. |
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