VC Fund Makes 11 Investments in Sacramento Area Companies Over
Last 24 Months
FOLSOM, Calif.--(Business Wire)--Velocity Venture Capital, a venture capital fund that invests in
technology companies in the greater Sacramento area, announced today
that it has closed its second fund with $15 million raised and is
preparing for its third fund with a target fund size of $60 million.
With its first two funds, Velocity already has made 11 investments
in companies in the greater Sacramento region, including companies
like Jadoo Power and Marquiss Wind Power, which are taking a
leadership role in Sacramento's efforts to become a national leader in
clean energy innovation.
The Velocity fund management team plans to complete its Fund II
portfolio by adding up to three more portfolio companies for a
potential total of 14 investments in California's Capital region.
Velocity has deployed a unique approach to venture capital with an
innovative fund management organizational structure and
company-building approach. Along with its General Partners, Velocity
has a stable of seasoned industry experts called Venture Partners that
are assisting portfolio companies in various respects, including
securing customers, recruiting management talent, establishing
industry partnerships, and syndicating rounds of financing.
Beyond providing capital for entrepreneurs, Velocity's
company-building approach includes active roles by the General
Partners with regard to such matters as assistance with strategy,
fundraising, intellectual property, product development, and access to
the Velocity network of resources. In addition, Velocity is providing
incubation services for 5 of its 11 portfolio companies at its office
building in Folsom, a suburb of Sacramento.
"With Velocity's Fund II we are proving that you can build a
strong portfolio of Sacramento-based companies that create value for
investors," said Jack Crawford Jr., General Partner for Velocity. "Our
investments focus on a wide range of seed and early stage technology
companies and we are pleased with their progress to date. As
Sacramento progresses toward becoming a national leader in clean
technology, we are seeing more and more opportunities in that area."
Investments have ranged from $100,000 to $3.5 million in the
following Velocity portfolio companies:
-- Marquiss Wind Power, headquartered in Folsom, sells its
patented AeroPoint Ducted Wind Turbine into the commercial and
industrial building sectors of the world-wide economy.
-- Jadoo Power, headquartered in Folsom, a leading supplier of
portable fuel cells that provide reliable, safe, and efficient
power for a variety of applications.
-- anyComm Corporation, headquartered in El Dorado Hills, a
Digital Home Solutions Company that utilizes a TV-based menu
and a single remote control, providing a home with a simple
and single point of interaction to entertainment,
communications, home automation, security and networking.
-- Start-Up TV Network Inc., headquartered in Folsom, an
early-stage company established to create a web-based deal
flow network for angel investors and start-up companies.
-- Razor Audio Solutions, Inc., headquartered in Folsom, is a
seed-stage entertainment technology company that has created
next generation audio technology for deployment in speakers
for the fast growing multi-billion dollar digital home market.
-- Revionics, headquartered in Granite Bay, is a leading provider
of price optimization systems to independent retailers.
Revionics' Retail Advanced Pricing System (RAPS) generates
increased sales and profits through sophisticated price
optimization technology as a subscription-based, Software as a
Service (SaaS).
-- Freepath, Inc., headquartered in Folsom, is a leading provider
of nonlinear presentation solutions that empower
communications to create visually rich presentations,
regardless of audio/video configuration, technical skill, or
audience size.
-- emTRAiN, Inc., headquartered in Sacramento, is a leading
provider of web-based human resources compliance training.
With more than 800 customers and growing since its founding in
2000, the company helps employers effectively and efficiently
manage their compliance learning programs.
-- JobSight Solutions, Inc., headquartered in Folsom, is a
start-up company founded for the purpose of developing,
manufacturing and marketing fixed wireless products. Job
LinkT, the Company's premier product is a variable network/
multi-line fixed cellular terminal designed as an alternative
to standard landline service for phone, fax, and internet
access in mobile and temporary facilities.
-- KeyEye Communications, Inc., headquartered in Sacramento,
develops semiconductors enabling high-speed data transmission
over copper wiring.
-- Riavo Systems, Inc., headquartered in Folsom, is an
early-stage company that is creating a revolutionary way to
network and secure the digital home for IP-based, triple-play
services (i.e. HDTV), telephone and broadband internet.
Crawford noted that "investors' perceptions of Sacramento have
dramatically changed with an influx of thousands of technology
executives from the Silicon Valley over the last decade and a billion
dollars of local successful exits by start-up companies over the last
few years."
Jacob Jorgensen, also a General Partner at Velocity, added: "The
old view of the Greater Sacramento area as a government town is gone.
Investors today see the vitality of the region's technology economy
and the innovation coming out of our major technology companies, as
well as our research universities."
About Velocity Venture Capital
Velocity Venture Capital invests in seed and early-stage
technology companies in the greater Sacramento region. The firm drives
the success of Sacramento-based companies with investment capital and
management support. Velocity is the first venture capital firm to
focus exclusively on California's capital region. For more
information, please visit www.velocityvc.com
Halldin Public Relations
Ray Young, 916-781-0659
ray@halldinpr.com
Copyright Business Wire 2008
