Harris & Harris Group, Inc. announced today that it has made a follow-on investment in privately held NanoOpto Corporation (www.nanoopto.com) as part of a $7 million round of financing. Harris & Harris Group made its initial investment in NanoOpto in April of 2002. The investors in the current round of financing include Morganthaler Ventures, Bessemer Venture Partners, Draper Fisher Jurvetson (DFJ) Gotham Ventures, Draper Fisher Jurvetson (DFJ) New England Ventures and U.S. Trust's Excelsior Venture Partners III, LLC.
NanoOpto is creating and commercializing novel classes of optical components for a broad range of markets, including optical data transfer, telecommunications, sensors and displays.
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 12 initial private equity investments have been in tiny-technology enabled companies.
Harris & Harris Group, Inc. is a Business Development Company with 11,498,845 common shares outstanding.
Detailed information about Harris & Harris Group, Inc. and its holdings can be found on its website at http://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.