Battelle Ventures, L.P., a Princeton, N.J.-based venture fund, and its Knoxville, Tenn.-based affiliate fund, Innovation Valley Partners (IVP), have a combined $255 million under management for creating and accelerating the development of early-stage technology companies with breakthrough solutions to multiple marketplace problems. The funds enjoy unique relationships with the technology transfer offices of six U.S. Department of Energy (DOE) National Laboratories and have established similar associations with a number of university tech transfer and commercialization departments. Battelle Ventures was established in August 2003 with a sole limited partner – Columbus, Ohio-based Battelle Memorial Institute (Battelle), the world’s largest nonprofit independent research and development organization. Battelle manages/co-manages six National Laboratories for the U.S. DOE.  IVP, launched in August 2005, is backed by Eastern Tennessee business leaders and works closely with regional research and entrepreneurial communities, giving the funds a strong presence in the Southeast. The $220-million Battelle Ventures fund and the $35-million IVP fund invest side by side in all deals.

About Novitas Capital

Founded in 1997, Novitas Capital mines innovation and opportunities where investment for seed, start-up and early stage technology and life sciences ventures is scarce. Novitas discovers companies at their earliest stages, thoroughly vets them and, upon typically leading investment rounds, takes an active role in facilitating their success. Based in Wayne, Pennsylvania, with offices in Pittsburgh, Pennsylvania; Allendale, New Jersey; and Morgantown, West Virginia, Novitas currently has approximately 30 active portfolio companies and $237.5 million under management across three venture capital funds.

About Technology Venture Partners

Technology Venture Partners (TVP) is an $85 million venture capital fund investing in early to mid-stage venture opportunities in the areas of networking, communications, software and semiconductor technologies. TVP's investment focus is concentrated around high-growth opportunities in areas such as enterprise applications, network infrastructure, network management and security, VoIP chipsets, software and IT infrastructure. Technology Venture Partners is headquartered in Minneapolis, Minnesota.

About NTT Electronics

NTT Electronics is a leading provider of high quality active and passive optical components for telecommunications. As a member of the NTT Group, one of the world's leading telecommunications companies, NTT Electronics develops and supplies products in the areas of photonics,broadband networking, security, and digital video.