Profile: Harris and Harris Group Inc (TINY.O)
10 Mar 2014
Harris & Harris Group, Inc., incorporated in August 1981, is an internally managed venture capital company specializing in nanotechnology and Microsystems. The Company’s investment objective is to achieve long-term capital appreciation by making venture capital investments.. The Company generally makes venture capital investments exclusively in companies commercializing or integrating products enabled by nanotechnology or microsystems. Nanotechnology is measured in nanometers, which are units of measurement in billionths of a meter. As of December 31, 2011, the Company's venture capital portfolio comprised 75.2 %of its total assets, its cash comprised 22.5 % of its total assets, and other assets comprised the remaining 2.3 %of its total assets. In July 2013, Harris and Harris Group Inc announced the closing of the sale of Xradia to Carl Zeiss.
The Company may invest in equity, equity-related securities and debt with equity features. These securities include common stock, preferred stock, debt instruments convertible into common or preferred stock, limited partnership interests, other beneficial ownership interests and warrants, options or other rights to acquire or agreements to sell any of the foregoing. In addition, the Company may make investments in connection with the acquisition or divestiture of companies or divisions of companies. The Company may also invest in publicly traded securities of whatever nature, including relatively small, emerging growth companies
The Company may hold debt securities, including in privately held and thinly traded public companies, for income and as a reserve pending more speculative investments. Debt obligations may include United States government and agency securities, commercial paper, bankers’ acceptances, receivables or other asset-based financing, notes, bonds, debentures, or other debt obligations of any nature and repurchase agreements related to these securities. As of December 31, 2011, the debt obligations held in the Company's portfolio consisted of convertible bridge notes, secured non-convertible notes, senior secured non-convertible debt through a participation agreement and a subordinated non-convertible note. The Company's convertible bridge notes and the interest accrued thereon are generally held for the purpose of potential conversion into equity at a future date. The Company may make investments in securities of issuers whose principal operations are conducted outside the United States, and whose earnings and securities are stated in foreign currency.
Harris and Harris Group Inc
24th Floor, 1450 Broadway
NEW YORK NY 10018