Harris & Harris Group, Inc., announced today that it has invested an additional $1,262,764 in privately held NanoGram Corporation, of San Jose, CA, bringing its total investment in NanoGram to $2,285,159. The investment was as part of a Series III financing led by Technology Partners that raised $18.7 million. Also participating in the round were existing institutional investors ATA Ventures, Bay Partners, Institutional Venture Partners, SBV Venture Partners, Rockport Capital Partners and Nth Power Technologies. NanoGram develops and licenses technology enabling the manufacture of unique nanoscale compositions for application in optical, electronic, and energy devices and products. The new funding will be used to continue the development of nanomaterials for optical and energy-related applications, and to develop new nanomaterials for electronic and imaging applications.
Harris & Harris Group is a publicly traded venture capital company that now makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 26 initial private equity investments have been in tiny technology-enabled companies. The Company has 20,756,345 common shares outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.TinyTechVC.com.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc., undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the website www.TinyTechVC.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.