Mavenir raised $500 million to Koch Strategic Platforms, and is poised to continue pushing the 5G cloud-based tech of the vendor through the selling of a minority share.
Mavenir said in a statement KSP, an affiliate of US-based Koch Industries multinational heavyweight, committed to a private placement and was a perfect partner to promote its 5G efforts. Nothing was revealed about Koch’s share in the vendor.
In addition to investment in capital, KSP plans to use Koch Industries‘ strengths and abilities to speed up Mavenir’s development and find new channels.
KSP focuses on growth equity in: computing and connectivity; industrial automation; energy transformation; and healthcare. President David Park said the company was “taking material equity positions in innovative, disruptive companies” operating in industries with “significant tailwinds”.
“We want to partner with companies that can transform Koch Industries for the future. Mavenir checks all the boxes,” he added.
The investment will help Mavenir CEO and President Pardeep Kohli use his tech platform to lead ‘digital transformation of mission-critical networks,’ he added. In the thriving open RAN market Mavenir is a leader.
Investment details come around six months after Mavenir had scrapped the IPO strategy for instability in the US, following plans to increase by about 300 million US dollars in October 2020.