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CeLight
Secures $45 Million in Financing Led By Goldman Sachs
Optical Networking Start-up Uses New Dimensions of Light To
Enable Next Generation Networks
June 13, 2001 – Silver Spring, MD – CeLight, a privately-held
optical networking company founded in 1999, today announced
the successful completion of its second round of venture funding
totaling $45 million. CeLight is developing its innovative VectorWAVE™
technology and sub-systems to drive the next generation of transport,
routing, and switching systems that will be deployed by large
carriers and network operators.
VectorWAVE™ technology utilizes previously untapped
dimensions of light to circumvent the inherent barriers of
traditional optical transport architectures, enabling a new
generation of transport systems to go faster and further at
much lower cost.
This round of financing is led by Goldman Sachs (www.gs.com),
and includes funding from first round investors Concord Ventures
(www.concordventures.com)
and Advanced Technology Ventures (www.atvcapital.com).
The round will also include funding from new investors Tamir
Fishman Ventures (www.tfventures.com)
and Vertex Management Israel (www.vertexisrael.co.il).
“We are thrilled to have the support of world-class
investors who share our vision and see the unique benefits
that VectorWAVE™ will provide to carriers and service
providers around the world” stated Amir Shaked, Co-founder,
President and CEO of CeLight.
Neil Gelfand, a vice president in Goldman Sachs’ Private
Equity Group says, “CeLight will redefine the equation
for price-performance and provide the flexible service capability
that carriers need to keep ahead of the rapid growth of the
optical Internet infrastructure.”
Matty Karp, a managing partner in Concord Ventures says “CeLight
started at Concord Ventures’ Entrepreneur in Residence
program and has evolved to be one of the most promising companies
in our portfolio. CeLight has the right ingredients for success:
a superb management and development team with a very unique
and innovative technology, targeting a huge potential market.”
Michael Elias, a partner in Tamir Fishman Ventures states,
“CeLight driven solutions will enable large network
operators to save hundreds of millions of dollars in capital
and operational expenditures.”
CeLight (www.celight.com)
is registered in Delaware, USA, and has offices in Maryland,
New Jersey and Israel. CeLight currently employs approximately
80 people.
About Goldman Sachs:
The Goldman Sachs Group, Inc. is a leading global investment
banking and securities firm, providing a full range of investing,
advisory and financing services worldwide to a substantial
and diversified client base, which includes corporations,
financial institutions, governments and high net worth individuals.
Founded in 1869, it is one of the oldest and largest investment
banking firms. The Firm is headquartered in New York and maintains
offices in London, Frankfurt, Tokyo, Hong Kong and other major
financial centers around the world.
About Concord Ventures:
Concord Ventures, based in Herzliya, Israel, manages three
funds with a combined value of US$275 million. In May 2000,
Concord closed the raising of US$180 million for the Concord
II Fund. This followed the successful funding of Concord I
and the Nitazim Fund. Concord focuses on investments in technology
companies in the fields of communications, software and healthcare,
mostly in their early stages. Among their successes include
ESC Medical, Galileo and Accord. Other Concord investments
include Oridion, XTL Biopharmaceuticals and RT Set, which
are traded in Europe, and WaveAccess which was sold to Lucent
Technologies. (www.concordventures.com).
About Advanced Technology Ventures:
Founded in 1979, Advanced Technology Ventures is a leading
venture capital firm whose management experience, technology
expertise, global network of industry contacts and collaborative
style has helped more than 125 companies navigate from inception
to IPO and beyond. With approximately $1.5 billion currently
under management, ATV's investment philosophy centers on collaborative,
active participation with the management teams of its portfolio
companies. For more information, visit www.atvcapital.com.
About Tamir Fishman Ventures:
Tamir Fishman Ventures is committed to building next generation
innovative Israeli and Israel-related technology companies
through value-added partnerships. Tamir Fishman Ventures is
focused on making primarily early stage investments, as well
as selective seed and late stage investments, in companies
operating in the Communications, Internet and Software segments.
Tamir Fishman Ventures is sponsored by Tamir Fishman &
Co., Israel's leading technology-focused investment bank,
and has formed strategic partnership with Dain Rauscher Wessels,
a leading US technology-focused investment bank. Having founded
and currently managing two ventures funds - Eucalyptus Ventures
and Tamir Fishman Ventures II, the Tamir Fishman group is
one Israel's largest venture capital groups. For more information,
please visit www.tfventures.com.
About Vertex Management Israel:
The International Vertex Group manages over $1 billion in
venture capital via 10 actively managed funds, 4 funds with
investment commitment role and 1 fund of fund. The Group has
41 investment professionals in 8 offices in California's Silicon
Valley, London, Tel Aviv, Copenhagen, Singapore, Taipei, Hong
Kong and Beijing with planned expansion to Tokyo, Seoul and
Bangalore. Over the past 13 years, the Group has invested
in 265 companies around the world. Business acumen, market
savvy and technological know-how have contributed to the 90
Vertex Group portfolio companies that have exited via M&As
or IPOs on the NASDAQ, European and Pacific Rim stock exchanges.
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