NXT Capital Venture Finance Provides $3.5 Million Venture Loan to SkyCross
NXT Capital’s Venture Finance Group today announced that it has provided a $3.5 million subordinated venture loan to SkyCross, Inc. The facility’s highly flexible structure integrates with the company’s current capitalization structure and gives SkyCross capital to drive its global growth efforts.
SkyCross is a global designer and manufacturer of high-performance antenna solutions for a variety of wireless devices in the mobile phone, personal entertainment and computing industries. Through its patented iMAT antenna design technique, SkyCross produces single antenna structures that behave like multiple antennas using multiple feeds for multiple-input, multiple-output operation. This allows designers to create a full range of consumer electronics products that are small, stylish and differentiated while operating with faster data rates, increased network capacity and better reliability. Headquartered in Fremont, CA, SkyCross is backed by TL Ventures, Investor Growth Capital, Intel Capital, Gabriel Venture Partners and DOCOMO Capital.
“NXT Capital Venture Finance really set itself apart by taking the time to truly understand our business,” said Ben Naskar, SkyCross CEO. “From the beginning, NXT proved to be more than just a provider of capital, but a true business partner. We look forward to building our relationship with NXT Venture Finance if future capital needs arise.”
“SkyCross has created an exceptional suite of patented technologies that solve numerous pain points in the mobile space,” said Peter Fair, Managing Director, NXT Capital Venture Finance. “As the growth of 4G LTE expands, SkyCross is poised to further entrench itself as a leader in mobile antenna solutions. We are thrilled to be associated with such a high quality management team and investor group.”