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Article: Photonics Firm Hits Big in New Venture Capital Round.(Sabeus Photonics Inc.)(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- December 10, 2001
- Author:
CopyrightCOPYRIGHT 2001 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Talk about a nice problem to have.
Sabeus Photonics Inc. had planned to announce this week the closing of its third round of venture funding, having raised $18.75 million. But the closing now has been extended to the first quarter of next year to allow additional investors to join in.
The manufacturer of optical networking components, which is in the process of moving its operations from Long Beach to a new plant in Chatsworth, originally had planned to raise just $15 million in the round. But Sabeus Chief Executive Andre de Fusco last week estimated that the round now is expected to grow another 20 percent or so, putting it at $22.5 million.
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