Harris & Harris Group, Inc. announced today that it has invested $200,000 as part of a $5 million Series A Preferred round of financing by privately held Crystal IS, Inc. The investor syndicate was led by Arch Venture Partners and included JVP, 3i and Harris & Harris Group.
Crystal IS is a supplier of ultra-low defect density native aluminum nitride (AIN) single crystal substrates. The Company was founded in 1997 by Rensselaer Polytechnic Institute (RPI) physics professors Glen Slack and Leo Schowalter, both former GE scientists.
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 17 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.