Altitude Capital Partners, LLC (“Altitude” or “ACP”), a private investment fund focused on intellectual property (IP) assets, announced today that Altitude Capital Partners, LP and Goldman Sachs & Co. have invested $11 million in Intrinsity, Inc., an Austin, Texas based design IP technology company focusing on high-speed, low power embedded processor cores. The investment was in the form of senior secured notes with warrants and in Class E Preferred Stock of Intrinsity.
“We are delighted to be partnering with Intrinsity to provide growth capital to execute management’s strategic vision,” said Altitude Capital Partners Managing Partner Robert Kramer. “Our participation is indicative of the increasing array of situations in which our flexible capital is being deployed.”
“This latest round of funding substantiates the value Intrinsity delivers to our partners,” said Bob Russo, president and CEO of Intrinsity. “It reflects the success of our Fast14® and FastCore® technologies in producing groundbreaking high-speed, low power embedded core designs for the semiconductor industry.”
Intrinsity, based in Austin, Texas, has more than one hundred employees and has received more than 85 patents pertaining to its unique Fast14 circuit technology and design methodology. Intrinsity uses Fast14 to develop ultra-high speed and low power enhancements of popular embedded processor cores. Other investors in the preferred equity round included Adams Capital Management, the Hillman Company, and Northwater Capital Management.
About Intrinsity
Intrinsity, Inc. is a design technology company that provides the designs, tools, technologies, and expertise so its customers can efficiently and predictably produce high performance, low-power and cost-effective products. Intrinsity’s proprietary Fast14 technology is used to create FastCore embedded cores, which provide not only circuit speeds of up to and beyond 3 GHz, but also the means to trade-off speed, power and area to achieve the optimal solution to customer design targets while maintaining compatibility with popular embedded core families. Fast14 technology includes a combination of process specific libraries, a specification language and a set of tools that help automate the design flow. Intrinsity’s corporate headquarters are located in Austin, Texas.
For further information regarding Intrinsity, please visit their web site at http://www.intrinsity.com.
About Altitude Capital Partners
Altitude Capital Partners is an opportunistic $250 million investment fund which invests in intellectual property (IP) assets and IP centric companies. The Altitude mandate is broad based, covering patents, trademarks, brands, copyrights, and royalty streams. Altitude partners with individual inventors, commercial entities with residual patent assets, patent licensing companies, as investments are structured as debt, preferred stock, common stock and or contractual rights emphasizing alignment with our portfolio company partners.