Fremont, Calif. - Magnum Semiconductor, a developer of chips, software and platforms for consumer entertainment systems, has raised $20 million as part of its third round of venture capital financing, PEWeek reported, citing a regulatory filing.

Investor Growth Capital led the investment; previous backers August Capital and Investcorp Technology Ventures also participated.

Fremont, Calif.-based Magnum was spun off from Cirrus Logic in 2005.

The company's products include audio/video decoders, encoders and codec chips, used in devices such as home and automotive media centers, and portable players and recorders.

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