Shareholders of Harris & Harris Group, Inc., may be interested to know that Nanosys, Inc., a privately held company focused on developing nanotechnology-enabled products, today announced that it has raised approximately $40 million in a private equity financing. The financing was led by El Dorado Ventures and includes other new investors, as well as existing investors including Harris & Harris Group. Nanosys will use this funding for the ongoing development and manufacturing scale-up of products that incorporate its proprietary, inorganic nanostructures with integrated functionality for multiple industries.
Harris & Harris Group invested approximately $3,000,000 in this round of financing, bringing its total investment in Nanosys, Inc., to approximately $4,500,000.
Harris & Harris Group is a publicly traded venture capital company that makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 25 initial private equity investments have been in tiny technology-enabled companies. Since 2001, Harris & Harris Group has invested a total of approximately $41,270,912 in tiny technology-enabled companies, of which approximately $15,887,078 has been invested in 2005 to date.
Harris & Harris Group is a business development company with 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 news 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 news release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2004, 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 news release.