Hercules Technology Growth Capital, Inc. announced that on Sept. 15, 2006, it provided $7 million of structured mezzanine debt financing to iWatt, Inc., a power management integrated circuit company. iWatt is backed by the financial strength of top venture capital companies, including Horizon Ventures, PTI Ventures, Sigma Partners and VantagePoint Venture Partners.
"iWatt's digital power management integrated circuits enable some of the highest efficiency and best value power supplies, adapters and chargers for use in the notebook computer, flat panel display and portable device markets," said Ed Messman, Managing Director of Technology at Hercules. "Through the iWatt design, high density, low cost ac-dc adapters have become easier to design, debug and manufacture."
"We are pleased to add Hercules as one of our financing partners," said Curtis Davis, President and CEO of iWatt, Inc. "The $7.0 million in structured mezzanine debt financing provided by Hercules will enable continued product design and commercialization efforts."
