Harris & Harris Group, Inc.® is a venture capital company specializing in tiny technology that operates as a business development company under the Investment Company Act of 1940. For tax purposes, we have elected to be a regulated investment company under Subchapter M of the Internal Revenue Code of 1986. Our investment objective is to achieve long-term capital appreciation, rather than current income, by making venture capital investments in early stage companies. Our investment approach is comprised of a patient examination of available opportunities, thorough due diligence and close involvement with management. As a venture capital company, we invest in and provide managerial assistance to our portfolio companies which, in our opinion, have significant potential for growth. We are managed by our Board of Directors and officers and have no investment advisor.
We make initial venture capital investments exclusively in "tiny technology," which we define as microsystems, microelectromechanical systems ("MEMS") and nanotechnology. We consider a company to be a tiny technology company if the company employs or intends to employ technology that we consider to be at the microscale or smaller and if the employment of that technology is material to its business plan. Our portfolio includes non-tiny technology investments made prior to 2001, and we may make follow-on investments in either tiny or non-tiny technology portfolio companies. By making these investments, we seek to provide our shareholders with an increasingly specific focus on tiny technology through a portfolio of venture capital investments that address a variety of markets and products, such as materials, electronics, instruments, medical devices and biotechnology.