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3i and VantagePoint Venture Partners team up to invest $50m in SCP Global Technologies

3i US and VantagePoint Venture Partners have announced a $50m investment in SCP Global Technologies, a developer of wet processing equipment used in the manufacture of industry wafers.

SCP recently also recently acquired the wet products division of Mattson Technology, Inc.

J Sanford Miller, managing director of 3i US, said that 3i saw ‘excellent value' in SCP's global market.

David Fries, partner at VantagePoint Venture Partners, said: ‘We are excited about SCP and its newly acquired Mattson assets, because it will create one of the largest privately held semiconductor capital equipment companies in the world - one with a proven management team, a leading technology position, and worldwide coverage.'

3i, which has achieved several exits in recent weeks despite present barren conditions, pointed out that the investment was one of the largest in the semiconductor industry of the last 12 months.
The newly named Montagu Private Equity team recently completed a fundraising of £1.2bn.

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