Mimix Broadband Closes Second Round of Institutional Financing at $8M

Gefinor Ventures Invests in the Round, with Greg Carlisle Joining the Mimix Board of Directors

Houston -- Mimix Broadband, Inc., a fabless semiconductor company for wireless communications, announced today that it has secured additional investments in its second round of institutional financing, closing the round with a total of $8 million. Investments from Gefinor Ventures as well as individual investors completed this second round. Greg Carlisle, Managing Director of Gefinor Ventures, will join Mimix Broadband's Board of Directors. Mr. Carlisle has over 20 years experience in software development, high-technology company start-ups, and venture capital investing. He began his career as a senior manager for Andersen Consulting, then founded and grew several start-up companies, successfully managing them to achieve rapid growth.

In response to the Mimix Broadband investment, Mr. Carlisle said, "We have been impressed by the quality of the Mimix team, their MMIC technology, and key customer wins in the competitive microwave semiconductor market. The ongoing support from 3i, First Capital Group, and a number of quality individual investors also helped to convince us to support the Company as it pursues significant new opportunities in the microwave radio, satellite, and other markets."

"We are very pleased that Gefinor Ventures chose to invest in Mimix to close this second round of funding. The management team at Gefinor Ventures brings a wealth of experience and numerous contacts that will assist Mimix as we develop as a market leader," stated Rick Montgomery, CEO of Mimix Broadband.

Mimix Broadband designs, develops and supplies MMIC solutions for the microwave and millimeter-wave wireless communications markets. Mimix has assembled a world-class team of scientists experienced in the design of highly integrated and high power semiconductor devices, as well as complete communications systems design. Mimix combines this semiconductor expertise with systems knowledge to provide innovative solutions for its customers' most challenging applications.

With the increasing demand for higher bandwidth, the microwave and millimeter-wave communications markets have tremendous potential for growth. Mimix Broadband is ideally positioned to capitalize on the significant market opportunity for microwave and millimeter-wave MMICs.

Source: Mimix Broadband