The Sigma Technology Venture Fund (“STVF”), a fund managed by Sigma Technology Management Ltd, has led a total investment round in Pentland Systems Limited (“Pentland”) of £370,000. STVF invested £150,000 as lead investor alongside the Scottish Co-investment Fund, which invested £160,000, West Lothian Ventures, which Invested £10,000 and two of the directors who invested £50,000 in total.
Pentland was formed as an MBO of Burr Brown’s Systems Division in 1990. The company focuses on the design, manufacture and marketing of high performance electronic subsystems for signal acquisition and reconstruction that are currently used in radar, sonar and signal intelligence systems for the military and aerospace markets. Recent customers include BAE Systems, Lockheed Martin, Thales & Nex1 Futur.
This investment follows a previous round led by Sigma in May 2004 and takes the total funding arranged by Sigma to £1,195,000. Graham Barnet, Managing Director of Sigma, joined the Board as a non-executive director at the time of Sigma’s first investment in 2004 and will continue in this role. Sigma has completed five investments in Scotland so far this year. The total amount invested across these rounds, including funds invested by third parties, has been more than £16m.