Friday, July 27, 2007

Entropic Files For IPO

San Diego-based Entropic Communications has filed for an IPO, saying today in a filing with the SEC that it is looking to raise up to $100M on the NASDAQ Global Market under the symbol "ENTR". The firm develops high speed networking chipsets focused on the high definition television market. The IPO is being underwritten by Credit Suisse, Lehman brothers, Thomas Weisel Partners, JMP Securities, and ThinkEquity Partners. Entropic is backed by CMEA Ventures, Redpoint Ventures, Focus Ventures, Granite Ventures, and Mission Ventures; the firm has raised $78M in venture capital since 2002 in three rounds of funding, most recently raising $25M in a Series C round in January of 2006. Other investors in the firm include Anthem Venture Partners, Cisco, Comcast Interactive Capital, EchoStar, Intel, Motorola, Panasonic, Time Warner and YAS Broadband Ventures.