Harris & Harris Group, Inc., announced today that it has invested $887,500 as part of a $3.3 million round of financing by privately held NanoOpto Corporation (www.nanoopto.com). The funding is from existing equity partners Morgenthaler Ventures; U.S. Trust's Excelsior Venture Partners III, L.L.C.; Draper Fisher Jurvetson (DFJ) Gotham Ventures and New England Ventures; Bessemer Venture Partners and Harris & Harris Group. Harris & Harris Group originally invested in NanoOpto in March, 2002. Harris & Harris Group now owns approximately 11.6 percent of the fully diluted equity in privately held NanoOpto.
NanoOpto is applying proprietary nano-fabrication technology to the rapid design and high-volume manufacture of nano-optic devices for optical components and systems. The company's nanometer scale optical function design capability, combined with wafer-based manufacturing methods, delivers optical components that are directed at increasing performance and lowering cost.
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 16 initial private equity investments have been in tiny-technology enabled companies. The Company has 17,248,845 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 and recent Prospectus 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.