CSR founder eases out to invest in fresh ventures
CSR co-founder Phil O’Donovan is easing himself out of the wireless company that recently became a member of the elite Cambridge ‘£1 billion valuation’ club.CSR co-founder Phil O’Donovan is easing himself out of the wireless company that recently became a member of the elite Cambridge ‘£1 billion valuation’ club.
O’Donovan intends to invest in and mentor exciting young technology companies in the region.
He says his total exit is not imminent as he seeks to secure suitable people to perform his various roles within CSR but that he is committed to seeking fresh challenges.
His first venture is Camrivox, a a developer of Voice over Internet Protocol equipment, that has received a total of £0.9 million investment from CREATE, GEIF/GEIF Ventures, Cam-bridge Capital Group and a number of business angels. (See opposite page).
O’Donovan has become chairman and hopes to line up some key strategic alliances for the business, possibly including Intel Capital – an investor in CSR – with whom he says "a dialogue would be most useful."
He told Business Weekly: "Camrivox doesn’t need any more money for now but key relationships are a different matter. Intel came in as a second round investor in CSR and we will certainly seek a dialogue with them to ascertain any common ground."
O’Donovan has already gone part time at CSR. "It’s been fabulous but all good things must come to an end and there are fresh and exciting challenges ahead for me," he said.
"I will invest in businesses but I am also seeking hi-tech companies where I can add some value through mentoring, coaching – whatever is needed to help them progress.
"I have picked valuable knowledge and experience of building a global success from a Cambridge base and it is my ambition to see this area produce more CSRs rather than rest on its laurels."