Cambridge GaN Devices Secures £5m Investment from British Patient Capital
Deal News | Feb 18, 2025 | British Business Bank Investments Ltd
British Patient Capital, a subsidiary of the British Business Bank, has invested £5 million in Cambridge GaN Devices (CGD) as part of a $32 million Series C funding round. This investment, part of the £425 million Future Fund: Breakthrough programme, is aimed at fostering CGD's development of advanced gallium nitride (GaN) power devices. This funding round was led by a strategic investor, with contributions from Cambridge Innovation Capital, IQ Capital, Parkwalk, Foresight, and BGF. The capital infusion is expected to support CGD's growth strategy as it targets the industrial, data centre, and automotive markets with its energy-efficient GaN products. The global GaN power device market is projected to grow significantly, reaching $5.15 billion by 2032. CGD aims to capitalize on this growth through its proprietary technology that enhances energy efficiency substantially. The investment will also facilitate CGD's operational expansion in Cambridge, Taiwan, Europe, and North America.
Sectors
- Advanced Electronics
- Venture Capital
- Renewable Energy
Geography
- United Kingdom – British Patient Capital, a UK entity, provided significant investment, and CGD is expanding operations in Cambridge, UK.
- North America – The article mentions CGD's plans to expand its operations in North America, indicating geographic relevance.
- Europe – CGD is planning to expand its operations in Europe, further solidifying its market presence.
- Taiwan – CGD plans to expand operations in Taiwan, enhancing its production capabilities in Asia.
Industry
- Advanced Electronics – CGD operates in the advanced electronics sector, specializing in GaN power device technology, targeting high-efficiency electronics applications.
- Venture Capital – The article discusses a Series C funding round indicative of venture capital involvement in promoting and scaling recent technological advancements.
- Renewable Energy – CGD’s technology contributes to energy efficiency and reduction of CO2 emissions, aligning with renewable energy goals.
Financials
- £5 million – Investment made by British Patient Capital into Cambridge GaN Devices.
- $32 million – Total amount raised in the Series C funding round for Cambridge GaN Devices.
- $5.15 billion – Projected global market value for GaN power devices by 2032.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cambridge GaN Devices | Target Company | Company | A leading innovator in gallium nitride (GaN) power devices aiming to deliver highly efficient products to various markets. |
| British Patient Capital | Investor | Company | A commercial subsidiary of the British Business Bank that invested in CGD as part of a £5 million funding round. |
| British Business Bank | Parent Company | Government | The parent organization of British Patient Capital, involved in economic development and support. |
| Cambridge Innovation Capital | Investor | Company | A venture capital firm participating in the Series C funding round for CGD. |
| IQ Capital | Investor | Company | A venture capital firm focusing on investments in disruptive technology that participated in the funding round. |
| Parkwalk | Investor | Company | A UK-based investment firm involved with technology and innovation sectors, participated in CGD’s Series C round. |
| Foresight | Investor | Company | An investor in the Series C funding, supporting the growth of CGD's innovative power device technology. |
| BGF | Investor | Company | A UK-based growth capital investor participating in the Series C funding for CGD. |
| Dr. Giorgia Longobardi | CEO and Founder | Person | The CEO and founder of Cambridge GaN Devices, leading the company’s strategic advancement. |