British Patient Capital invests in Cambridge GaN Devices with £5m boost

Deal News | Feb 18, 2025 | British Patient Capital

British Patient Capital, a division of the British Business Bank, has contributed £5 million to Cambridge GaN Devices in a $32 million Series C funding round. The investment, part of the £425 million Future Fund: Breakthrough programme, aims to support innovative UK companies. Cambridge GaN Devices, known for their advanced gallium nitride power devices, plans to leverage this funding for growth in industrial, data centre, and automotive sectors. With the global GaN power device market expected to surge in value, CGD's proprietary ICeGaN technology, known for achieving efficiency levels over 99%, positions the company at the forefront of this expansion. This funding will facilitate CGD's expansion in Cambridge, Taiwan, Europe, and North America, enhancing its impact on sustainable energy systems.

Sectors

  • Semiconductors
  • Venture Capital
  • Renewable Energy

Geography

  • United Kingdom – British Patient Capital and Cambridge GaN Devices are both based in the UK, with initial operations set in Cambridge.
  • Global – CGD's expansion plans include regions such as Taiwan, Europe, and North America, underscoring the global reach of its operations.

Industry

  • Semiconductors – Involves companies like Cambridge GaN Devices that focus on semiconductor technology, specifically gallium nitride power devices.
  • Venture Capital – Includes British Patient Capital's investment activities in innovative startups and tech companies through funding rounds.
  • Renewable Energy – The article highlights the sustainable energy impact of CGD's technology through CO2 reduction and energy efficiency applications.

Financials

  • £5 million – The investment amount made by British Patient Capital into Cambridge GaN Devices.
  • $32 million – The total amount of the Series C funding round for Cambridge GaN Devices.
  • $5.15 billion – Projected global GaN power device market value by 2032.
  • £425 million – Value of the Future Fund: Breakthrough programme, through which BPC's investment was made.

Participants

NameRoleTypeDescription
British Patient CapitalInvestorCompanyA commercial subsidiary of the British Business Bank, investing in innovative UK companies.
Cambridge GaN DevicesTarget CompanyCompanyA leader in the gallium nitride power device sector, innovating in high-efficiency technology.
Cambridge Innovation Capital (CIC)InvestorCompanyParticipating in the Series C funding round alongside other investors.
IQ CapitalInvestorCompanyParticipated in the Series C investment round for Cambridge GaN Devices.
ParkwalkInvestorCompanyIncluded in the group of investors partaking in the Series C funding.
ForesightInvestorCompanyOne of the strategic investors in the Series C round.
BGFInvestorCompanyParticipated in the funding round to support CGD's growth.
Dr. Giorgia LongobardiCEO and FounderPersonCEO and Founder of Cambridge GaN Devices, driving its innovation and expansion strategy.