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August 31, 2009

Silicon Valley Bank and Other Investment Firms, Riverwood Capital, Foundation Capital, and Sprout Group Invest $100 Million in Calix

Filed under: Venture Capital News — admin @ 8:11 am

Based in Austin, Texas, Calix announced today that it has just raised $100 million in financing along with the appointment of three new people to its board of directors. $50 million came as equity from Calix’s existing investors, who are Riverwood Capital, Foundation Capital, and Sprout Group and another $50 million came in debt financing, which was established together with Silicon Valley Bank. Proceeds from this round of funding will go to investing in additional resources that will be needed to further expand and to also capitalize the growth opportunities that are provided by a $7.2 billion US Broadband Stimulus Program.

Calix is one of the largest communications equipment suppliers for broadband companies within the United States. As a matter of fact, Calix is doing well in the markets, because Calix equipment is being used by many of the United States broadband companies to deliver a rich wealth of information, entertainment, and communication. Furthermore, the equipment that Calix provides allows the customers of these broadband companies to access this information, communication, and entertainment.

The people that Calix has appointed to its board of directors include Michael Marks of Riverwood Capital, Adam Grosser of Foundation Capital, and Robert Finzi of Sprout Group.

Mr. Marks brings a wealth of experience to the company’s board of directors, which includes operation, manufacturing, and corporate governance. Mr. Marks is also one of the founding partners of Riverwood Capital and is investment experience does not stop there. Mr. Marks was also a partner and senior advisor at Kohlberg Kravis Roberts & Co. Mr. Marks was also the CEO of Flextronics International, Ltd. which he helped grow from a net worth of $93 million to $25 billion. Calix is not the only company whose board of directors Mr. Marks serves on. Mr. Marks is also on the board of directors of Zappos.com, SanDisk Corporation, and Schlumberger Limited. He also served on some nonprofit organizations such as the V Foundation for Cancer Research and the National Parks Conservation Association.

Mr. Grosser also brings quite a bit of experience in both venture capital success and leadership in innovative companies. Currently, Mr. Grosser’s duties include being a general partner of Foundation Capital and before coming to Foundation Capital, he was president of Excite@Home’s 1400 person subscriber network. Mr. Grosser also worked for and held key positions in such high profile companies as Apple Computer, Lucasfilm, and Sony Electronics. Mr. Grosser also serves on the board of directors of many other companies as well.

Robert Finzi has a wealth of both operational and financial experience which he will be sharing with the board members of Calix’s board of directors. Mr. Finzi currently serves the Sprout Group as the co-managing partner of the vc firm. Mr. Finzi has over 25 years of experience in venture capital and has been working as the co-managing partner of the Sprout Group since 2003, but has been with the Sprout Group for much longer, working with companies in the high tech industry. Before joining the Sprout Group in 1991, Mr. Finzi was with Merril Lynch since 1985. He also worked with Menlo Ventures and other vc firms.

Riverwood Capital is a global private equity firm that mainly invests in high growth companies who are in both the tech and services industries.

Founded in 1995, Foundation Capital is a vc firm that was founded with the sole purpose to build great companies. Foundation’s philosophy is in the belief of the power of an idea. The team at Foundation Capital is experienced in everything that the young entrepreneur should know. Many of Foundation’s partners have served as CEOs, executive managers, and technologists. Some other companies in Foundation’s portfolio include Aktino, Altor Networks, Atheros, Azur Power, BabyCare, Biz360, and others.
Founded in 1969, the Sprout Group is one of the oldest vc firms in the United States and currently boasts of having over $3 billion of committed capital under its management. The primary focus of the Sprout Group’s investments is in emerging companies in a broad spectrum of industries. Some other companies in the Sprout Group’s portfolio include Actel, AMD, CyOptics, Aurora Networks, NetCore, Cisco Systems, and others.

For more information about Calix, click here.

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