Profile: Harris and Harris Group Inc (TINY.O)
27 Feb 2015
Harris & Harris Group, Inc., incorporated on August 19, 1981, is a venture capital firm. The Firm focuses on nanotechnology and microsystems that operates as a business development company under the Investment Company Act of 1940. Its investment objective is to achieve long-term capital appreciation, rather than current income, by making venture capital investments in early stage companies. As a venture capital firm, it invests in and provides managerial assistance to its portfolio companies.
The Firm makes initial venture capital investments in companies commercializing or integrating products enabled by nanotechnology or microsystems. It considers a company to fit its investment thesis if the company employs or intends to employ technology that the Firm considers to be at the microscale or smaller and if the employment of that technology is material to its business plan. Its portfolio of venture capital investments address a variety of markets and products, such as materials, electronics, instruments, medical devices and biotechnology.
The Firm defines venture capital as the money and resources made available to privately held and publicly traded small businesses that it believes has growth potential. These businesses can range in stage from pre-revenue to generating positive cash flow. Generally, all of its long-term venture capital investments are in thinly capitalized, unproven, small companies focused on commercializing risky technologies. In connection with its venture capital investments, the Firm provides a variety of services to its portfolio companies, including recruiting management, formulating operating strategies, formulating intellectual property strategies, assisting in financial planning, providing management in the initial start-up stages, introducing corporate and development partners, and establishing corporate goals.
It invests in equity, equity-related securities and debt with equity features. These securities include common stock or units, preferred stock or units, debt instruments convertible into common or preferred stock or units, limited partnership interests, other beneficial ownership interests and warrants, options or other rights to acquire or agreements to sell any of the foregoing. The investments are aimed at companies with operating histories that are unprofitable or marginally profitable, that have negative net worth, or that are involved in bankruptcy or reorganization proceedings. The firm also makes 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