Jul 30, 2013

December 16, 2004 08:00 AM Eastern Standard Time OTTAWA--( BUSINESS WIRE )--Dec. 16, 2004--   JK&B Capital and Vengrowth Capital Partners Lead Funding Round for Innovator in Intelligent Radio Frequency Solutions   TenXc Wireless Inc., today announced it has secured US$13.9M in Series A investment financing. The new funding provides TenXc Wireless with the resources to bring its flagship products to market, establish the required support infrastructure to meet product demand, and expand marketing and sales channels. The forthcoming TenXc solution offers wireless operators the ability to enhance service capacity and signal quality without incurring the time and costs involved in network-wide infrastructure changes. Two industry leading venture capital funds, VenGrowth Capital Partners and U.S.-based JK&B Capital, co-led the financing round and were joined by existing TenXc Wireless seed round investors, Venture Coaches/Skypoint Capital, and BDC Venture Capital. With increased subscriber usage and new high-speed data services, wireless carriers today face continued network build-out to deliver added capacity and enhanced quality to meet customer demand and capture new revenues ," said Mark Janoska, General Partner with Vengrowth Capital Partners. "TenXc's approach to optimize scarce spectrum resources and reduce site costs is highly attractive in a growing industry driven to reduce churn and improve profitability. Significant customer interest in the products TenXc is developing and unique powerful wireless technology makes this an exciting investment for Vengrowth. " "Our investment in TenXc Wireless underscores what we look for in a company; strong customer engagement, good management of the business, engineering depth, and a compelling product direction that evolves with market needs," said Ali Shadman, Partner with JK&B Capital. "The team's proven experience delivering commercial products and focused go-to-market strategy positions TenXc for market leadership. " "This is a great milestone for TenXc's customers as well as the company. The quality of investors involved and participation of our original investors reinforces our business plan and product direction," said Joseph Hickey, President and CEO of TenXc Wireless. " The new round of funding allows us to aggressively scale the organization and business to accelerate the time-to-market of our Intelligent RF solutions. " ABOUT VENGROWTH CAPITAL PARTNERS INC. With over $1 billion in assets under management, VenGrowth Capital Partners Inc. is Canada's largest private equity and venture capital firm managing both retail and institutional assets. Since 1982, VenGrowth's accomplished team of seasoned private equity managers has invested over $900 million in more than 150 companies, building a strong track record of successful portfolio transactions. These investments have been made on behalf of over 160,000 individual investors and leading pension funds, insurance companies and family foundations. Portfolio companies benefit from VenGrowth's substantial experience, resources, and hands-on investment style. VenGrowth is 100% independently owned by employees that are dedicated to generating superior returns for shareholders in its funds. VenGrowth's offices are located in Toronto (Corporate Headquarters) and Ottawa. For more information, please visit www.vengrowth.com . ABOUT JK&B CAPITAL JK&B Capital, www.JKBCapital.com , is a venture capital firm based in Chicago with $900 million under management. The firm was founded in 1996 with the belief, that in addition to capital and financial savvy, successful venture investing requires unique relationships and in-depth industry and technical expertise in order to identify the most attractive investment opportunities and consistently add value to portfolio companies. The JK&B team combines experienced venture capital investors with telecommunications and information technology industry experts who possess in-depth technical expertise. Successful portfolio companies of JK&B include: Openwave Systems (Phone.com), Commerce One, Interwoven, Exodus Communications, MPower Communications, Selectica, Silverstream, and CoreTek. ABOUT BDC VENTURE CAPITAL BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. BDC Venture Capital has been involved in venture capital since 1975 and has to date invested in more than 400 different companies. It currently manages approximately $500 million in venture capital assets invested in the areas of Life Sciences, Telecommunications, Information Technology, Advanced Technologies and Funds Investments. For more information, visit www.bdc.com . ABOUT VENTURE COACHES/SKYPOINT CAPITAL Venture Coaches/Skypoint Capital is an early-stage investor committed to building the next wave of communications and information technology companies. The Partners have extensive operational knowledge and experience to mentor portfolio companies in technology development, corporate governance and business development. The firm is headquartered in Ottawa, with investments across Canada. For more information, visit www.skypointcorp.com . ABOUT TENXC WIRELESS TenXc Wireless ( www.tenxc.com ) is a leader in the development of intelligent radio frequency solutions for today's mobile wireless networks and their evolution to broadband. TenXc's innovative solutions for improved spectral efficiency and signal quality enable service providers to profitably capture new service growth by addressing capacity, quality, and coverage constraints with reduced network costs and engineering time. TenXc's technologies are based on over 30 years in the research and application of radio propagation, digital beamforming, signal processing, and other radio frequency advancements for commercial satellite, mobile, and other wireless applications. Contacts