60GHz wireless specialist, Blu Wireless has won the Best Syndicated Deal category at the UK Angel Investment Awards ceremony, 2014. The UKBAA awards recognise achievement for investors and small business, took place on July 1st in Liverpool Cathedral, UK.
The Best Syndicated Deal category focused on instances in which coordinated syndicates have delivered significant business benefits above and beyond securing better terms and follow-on in investment.
Nominated by Angel CoFund for Qi3 Accelerator Syndicate and the London Business Angels EIS Round Table Syndicate, the deal involved a number of syndicates including the LBA (EIS Round table Fund), Wren capital and Qi3Accelerator Syndicate and the company also secured the investment from a leading semiconductor expert.
Carly Hearn of the UK Business Angels Association, said: “Syndication is often essential in order for angels to raise the sums of capital required to support attractive investment opportunities and propel them to success. The judges felt that there was a strong collaborative approach between the syndicates and proactive interactions between the syndicates, whilst the role of Qi3 and notably of Tim de Vere Green, as the lead angel in co-ordinating the process with the different participants was especially commended.”
Henry Nurser, BWT’s CEO, said: “We are delighted with this award. It’s good to be recognised for not only our technological innovation but for the meeting the challenges of financing a global technology company. Our continuing success owes a great deal to astute financial syndication.”
Blu Wireless Technology (BWT) is a silicon intellectual property (IP) company developing low cost, gigabit wireless communications technology. The initial markets for BWT’s technology include the emerging 60GHz ‘WiGig’ addition to the WiFi family, which will enable large video files to be transferred onto mobile phones at up to 7Gbps – 20 times faster than existing WiFi.