• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

SpaceVest Capital Changes Name to REDSHIFT Ventures; New Name Signifies Firm's Investment Strategy and Growth

Posted on: Monday, 22 May 2006, 12:00 CDT

Effective immediately, SpaceVest Capital will assume operations under the name REDSHIFT Ventures. In keeping with its current investment philosophy, REDSHIFT Ventures will continue to invest in companies that are commercializing advanced technologies including wireless, networking, microelectronics and software applications for high growth markets.

REDSHIFT Ventures will be led by managing general partner Richard Harris, who has been with the fund since 1997. The fund's investment team includes Ransom Parker, Roger Widing, Srini Mirmira and Ish Dugal.

"Redshift is a scientific term that is related to theories of expansion, movement and growth," said Harris. "We feel that it signifies our interest in building successful technology companies, and it symbolizes how our firm and investment strategy has developed and matured. I am proud to be a part of a fund with such deep expertise and success in identifying and advancing groundbreaking technologies that create real-world applications for commercial markets."

For more than a decade, REDSHIFT Ventures has assisted entrepreneurs in transforming government and commercial sponsored research and development into compelling commercial products. The firm relies on its deep operational understanding to build lasting value and its comprehensive network within national research centers to gain unique access to advanced technologies.

Notably, REDSHIFT Ventures invested in and advised Microelectronics Center of North Carolina (MCNC) spinout, Cronos Integrated Microsystems, a provider of MEMS technology, that ultimately led to a successful sale to JDS Uniphase Corp. (NASDAQ:JDSU), generating a 25 times return on investment. Most recently, REDSHIFT Ventures announced an exit in MIT spinout, Sandburst, a developer of networking chips.

Additional REDSHIFT Ventures technology transfer spinout investments include Stanford GPS Lab's Novariant; Lockheed Martin's Xytrans; Sarnoff Corp.'s Lamina Ceramics and RTI International's Nextreme Thermal Solutions.

Earlier this year, REDSHIFT Ventures announced an $8 million Series C financing for Converged Access Inc., a provider of application performance management solutions for converged Internet Protocol (IP) wide area networks (WANs). The firm is projecting to evaluate and participate in three to five more investments during 2006 and 2007.

About REDSHIFT Ventures

REDSHIFT Ventures is a proven venture capital firm managing approximately $270 million for global limited partners. For more than a decade, REDSHIFT Ventures has been investing in companies that leverage a broad range of advanced technologies to provide compelling solutions for diverse, rapidly growing markets. The firm relies on its deep operational understanding to build lasting value and its comprehensive network within national research centers to gain unique access to ground breaking technologies. REDSHIFT Ventures is a trusted partner of entrepreneurs and global limited partners and has developed strong co-investment relationships with other top venture capital firms and industry leaders. For more information, please visit www.redshiftventures.com.

Source: Business Wire

More News in this Category