January 28, 2008 09:23 ET
Goldman Sachs, The Hillman Company Participate in Intrinsity's $31.5 Million Series E Funding Round
AUSTIN, TX--(Marketwire - January 28, 2008) - Intrinsity Inc., a pioneer and leader in
high-speed, low-power embedded processor cores, announced today it has
completed $31.5 million in Series E financing. Adams Capital Management,
Altitude Capital Partners, Goldman Sachs, The Hillman Company, and
Northwater Capital Management co-led the round. The additional funding will
allow the company to further augment its family of FastCore® embedded
processor cores based on the ARM® and Power® architectures, as well as
expand a series of technical initiatives targeted at improving designer
productivity and advancing innovative new low-power technology research.
"We are very pleased to note new participation by Goldman Sachs, Altitude
Capital Partners and Northwater Capital Management, as well as additional
funding from original investors Adams Capital Management and The Hillman
Company in this new financing round," said Bob Russo, president and CEO of
Intrinsity. "This financing is an important endorsement of the value
Intrinsity delivers to our partners and reflects the success of our
Fast14® and FastCore technologies in producing groundbreaking high-speed,
low-power embedded cores designs for the semiconductor industry."
"We are delighted to join the existing investors in backing Bob Russo and
his great technical team," said Rob Kramer, Managing Partner of Altitude
Capital Partners. "Our belief is that the existing intellectual property
and technical 'know-how' create a true competitive advantage for Intrinsity
and its customers."
Intrinsity, based in Austin, TX, has more than one hundred employees and
has received more than 85 patents pertaining to its unique Fast14 circuit
technology and design methodology, with which it develops ultra-high speed
and low-power enhancements of popular embedded processor cores.
About Adams Capital Management
Adams Capital Management, Inc. (ACM) is a national venture capital firm
specializing in early-stage applied technology investments. Established in
1994, ACM is a lead Series A investor and currently manages $810 million.
Our general partners have extensive domain and operations expertise in the
-- Information Technology
-- Networking Infrastructure
ACM's well-defined, markets-first, investment strategy is driven by the
identification and exploitation of market discontinuities. This strategy
recognizes emerging growth companies with value propositions driven by
economics and product roadmaps that have the potential to define and
dominate product categories. ACM's national presence and expansive
resources, networks and experiences, offer our entrepreneurs the
opportunity to develop their visions into market-leading companies.
About Altitude Capital Partners
Altitude Capital Partners is an opportunistic $250 million investment fund
which invests in intellectual property (IP) assets and IP centric
companies. The Altitude mandate is broad based, covering patents,
trademarks, brands, copyrights, and royalty streams. Altitude partners with
individual inventors, commercial entities with residual patent assets, and
patent licensing companies. Altitude's investments are structured as debt,
preferred stock, common stock and or contractual rights emphasizing
alignment with our portfolio company partners.
For further information regarding Altitude Capital Partners, please visit
Altitude's web site at: www.altitudecp.com
About Goldman Sachs
Goldman Sachs is a global investment banking, securities and investment
management firm. It provides a wide range of services to a substantial and
diversified client base that includes corporations, institutional
investors, governments, non-profit organisations and high-net-worth
individuals. Its headquarters is in New York and it maintains significant
offices in London, Frankfurt, Tokyo, Hong Kong and other financial centers
around the world.
About The Hillman Company
Affiliates of The Hillman Company hold a diversified portfolio of
investments, including private equity, venture capital, real estate and
other alternative assets. The Hillman Company is based in Pittsburgh, PA.
About Northwater Intellectual Property Fund LP1
Northwater Intellectual Property Fund LP1 is managed by Northwater Capital
Management Inc., a leading investment management company, wholly owned by
its employees. Northwater manages over US $9.0 billion in assets, applying
innovative investment strategies and sophisticated proprietary software in
assisting major institutions in their efforts to build optimal portfolios.
In particular, Northwater applies the sciences of advanced finance and
systems engineering toward the objective of delivering highly diversified
market returns plus robust alpha. For more information please see
Intrinsity, Inc. is a design technology company that provides the designs,
tools, technologies, and expertise so its customers can efficiently and
predictably produce high performance, low-power and cost-effective
products. Intrinsity's proprietary Fast14 technology is used to create
FastCore embedded cores, which provide not only circuit speeds of up to and
beyond 3 GHz, but also the means to trade-off speed, power and area to
achieve the optimal solution to customer design targets. Fast14 technology
includes a combination of process specific libraries, a specification
language and a set of tools that help automate the design flow.
Intrinsity's corporate headquarters are located in Austin, Texas.
For further information regarding Intrinsity, please visit our web site at