Advanced Technology Ventures Closes $400 Million Investment Fund.Business/Technology Editors WALTHAM, Mass. and PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Jan. 24, ' 2000 ATV (1) (Advanced TV) An early name for the digital TV standard proposed by the Advisory Committee on Advanced Television Service (ACATS). See ACATS. See also ATV Forum. (2) (Analog TV) Refers to the NTSC, PAL and SECAM analog TV standads. Investor Confidence Soars as ATV VI Investments Double from Previous Fund; Total Committed Capital Under Management Climbs to $750 Million Advanced Technology Ventures (ATV), a leading venture capital firm focused on investments in emerging growth companies in Internet, communications and health care technologies, today announced that its latest fund, ATV VI, closed at $400 million. The largest of ATV's investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company to date, ATV VI brings ATV's total capital under management to approximately $750 million. The result of increased investor confidence in the firm's specialized approach to investing, ATV VI uniquely positions the firm to significantly enhance and expand its role in supporting promising entrepreneurial ventures. The firm's previous investment fund, ATV V, closed in October 1998 at approximately $175 million, and boasts of 27 investments. ATV's current portfolio includes many emerging technology leaders including Garage.com; Noosh; Optobionics; DTI Diffusion tensor imaging (DTI) A refinement of magnetic resonance imaging that allows the doctor to measure the flow of water and track the pathways of white matter in the brain. Networks; Petstore.com; Circe Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. ; DataSage, which was recently acquired by Vignette Vignette A symbol or pictorial representation of the corporation on a stock certificate. Usually a complicated and artistic design, it is meant to make the counterfeiting of stock certificates as difficult as possible. Corporation; Kestrel kestrel Any of several birds of prey (genus Falco) known for hovering while hunting. Kestrels prey on large insects, birds, and small mammals. The male is more colourful than the female. Kestrels are mainly Old World birds, but one species, the American kestrel (F. Solutions; Annuncio Software, and WebLine Communications, which was recently acquired by Cisco. With ATV VI, the firm will target investments in electronic commerce, web infrastructure, application software, communications equipment and IT services. Within health care, ATV will continue its focus on medical devices, pharmaceutical outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. and e-health. &uot;We believe ATV investor confidence, as demonstrated by investments in ATV VI, bears witness to our depth of industry knowledge, which is deeply rooted in firsthand first·hand adj. Received from the original source: firsthand information. first experience at successful start-up ventures,&uot; said Michael E. Frank, General Partner, Advanced Technology Ventures. &uot;Our extensive work with and for early stage companies, in concert with our ability to work side-by-side with senior management on key operational and strategic issues, provides entrepreneurs with the best possible vehicle for achieving business success.&uot; Keeping with its previous investment strategy, ATV said it plans to commit approximately 80 percent of the funds in ATV VI to information technology markets, with the remaining 20 percent earmarked for health care and medical technology ventures. The bi-coastal firm, which has offices in California's Silicon Valley and along Boston's Route 128 Technology Corridor, will also seek to balance its funding choices geographically, splitting roughly 80 percent between these two U.S. technology hubs and the remainder targeted overseas. ATV has a growing investment team that includes general partners that specifically focus on information technology in ATV's Palo Alto, CA office - Jos Henkens and Steven Baloff, and in the firm's Waltham, MA office - Michael Frank. General Partners Pieter Schiller and Michael Carusi focus on healthcare in the Waltham, MA office. About ATV Founded in 1979, Advanced Technology Ventures is a leading venture capital firm focusing on opportunities in information technology and health care. ATV's management experience, technology expertise, global network of industry contacts and collaborative style has helped more than 125 companies navigate from inception to IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. and beyond. With approximately $750 million currently under management, ATV's investment philosophy centers on collaborative, active participation with the management teams of its portfolio companies. For more information, visit www.atvcapital.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion