Wireless infrastructure supplier BelAir Networks raises $15M in series B funding led by JPMorgan Partners

December 3, 2003

2 Min Read

SAN JOSE, Calif. -- BelAir Networks, a wireless infrastructure supplier that provides advanced, multi-service, mobile networking solutions optimized for medium and large public and private venues, today announced it has secured $15 million USD in Series B financing, bringing the total investment in the company to $22 million USD.

JPMorgan Partners, the private equity arm of J.P. Morgan Chase & Co. led the second round financing and was joined by first round BelAir Networks investors, VenGrowth Capital Partners Inc., BDC Venture Capital, and Dr. Adam Chowaniec, Chairman of the Board of Tundra Semiconductor Corporation.

The new investment in BelAir Networks will be used to bring the BelAir200 cellular LAN platform introduced in October into high volume production, further develop marketing and sales channels, develop the support infrastructure required to meet current and future product demand, and accelerate the development of future products.

"BelAir Networks is the leading vendor of carrier class Wi-Fi systems, offering products that fundamentally change the business model for Wi-Fi access," said JPMorgan Partners Principal Chris Albinson who will join the BelAir Networks board of directors as a result of this financing. "The BelAir Networks management team brings a wealth of experience from carrier and wireless systems to the table. This experience has enabled them to be the early market leader, shipping the first cellular LAN Wi-Fi systems. JPMorgan Partners is excited to be part of this venture as we look forward to an enduring and successful relationship with BelAir Networks."

"This second round of investment demonstrates our continued confidence in BelAir Networks," said Patrick DiPietro, Chairman of the Board of BelAir Networks, and Managing Partner, VenGrowth Capital Partners. "And in the dedicated team of people who have developed and introduced a unique and powerful wireless networking technology that not only delivers on the original vision, but exceeds it."

"This is great news not only for BelAir Networks, but also for its current and future customers," said René Seguin, Director, BDC Venture Capital. "We have liked this opportunity from day one as BelAir's wireless LAN products finally allow operators to make sense of their wireless business cases."

"I'm pleased to welcome JPMorgan Partners to our investment team," said Bernard Herscovich, President and CEO, BelAir Networks. "Their involvement and the continued support of our first round investors is a strong vote of confidence for BelAir Networks and our products. I look forward to working with our entire investment team as we continue to evolve the company and meet the needs of the market."

BelAir Networks

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like