Technology News All about technology

13Jan/140

Maverick Science Investor Jeffrey Epstein Funds the First Humanoids in Berlin


(PRWEB) November 15, 2013

The Huffington Post published “ Maverick Hedge Funder Jeffrey Epstein Funds the First Humanoids in Berlin”.

The Jeffrey Epstein VI Foundation is pleased to announce the innovative new work of Joscha Bach, a young cognitive scientist specializing in Artificial Intelligence. Bach’s latest humanoid venture, titled MicroPsi Project 2, is a software program that creates goals and sensory driven agents in a virtual computer platform.

“The use of a virtual platform to explore the workings of the human brain provides optimal flexibility” science investor Jeffrey Epstein remarked. The exploration of the mind has been a longstanding focus of Jeffrey Epstein. A former board member of Rockefeller University and the Mind, Brain, and Behavior Committee at Harvard University, Epstein still plays an active role in brain institutes around the world.







Related Computer Press Releases

9Jul/120

CIT GAP Funds Invests in Lujure Media Inc.


Herndon, VA (PRWEB) May 15, 2012

The Center for Innovative Technology (CIT) announced today an investment in Blacksburg, Va.-based Lujure Media Inc., a social media company that helps businesses create custom Facebook fan pages and timelines to engage customers.

CIT President and CEO Pete Jobse said, Running a successful business today requires a digital marketing strategy. Lujure Media offers entrepreneurs with limited resources a way to easily develop social media outreach as part of their overall marketing efforts.

Lujure Media gives small and medium business owners, who may lack web development experience, the ability to create a professional Facebook fan page in less than five minutes. Users are able to manage fan pages and timelines using Lujure Medias convenient drag-and-drop capabilities. Lujure Media also enables independent consultants to create and update fan pages for multiple clients in one interface. E-commerce tools, Twitter and multimedia widgets are also available for businesses to interact with customers. Lujure Media also provides detailed social analytics for Facebook fan pages that illustrate measurement of social value.

Lujure Medias CEO Nathan Latka said, We have developed a proprietary drag-and-drop software platform that lets users quickly drop-in and resize application widgets onto Facebook pages and timelines. We plan to expand the custom Facebook experience to also host customer websites using the same platform; creating a one-stop product for Facebook, web and mobile.

Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, Nathan Latka and the Lujure Media team are able to use their business and technical expertise to produce software that helps organizations connect to their customers in an interactive way. With our investment, Lujure Media will begin product development on a mobile page builder tool.

Since its 2005 launch, CIT GAP Funds has placed over 60 investments across the Commonwealth, deploying $ 6 million of public funds and attracting almost $ 79 million in additional private investment, creating a robust public-private ecosystem for entrepreneurs. (For a list of portfolio companies, please visit the GAP Funds website.)

To learn more about Lujure Media Inc., please visit their website.

About the Center for Innovative Technology, http://www.cit.org

CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers.

About the CIT GAP Funds, http://www.citgapfunds.org

CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources.







Find More Tech Press Releases

6Apr/120

CIT GAP Funds Invests in Distil, Inc.


Herndon, VA (PRWEB) February 07, 2012

The Center for Innovative Technology (CIT) announced today a $ 100,000 investment in Falls Church, Va.-based Distil, Inc. Distil is a cloud-based software as a service company that protects online content from malicious bots, web scrapers, and harmful traffic; preserving search engine optimization (SEO) rankings, protecting proprietary digital content, and improving advertising revenue.

Distils Content Protection Network (CPN) allows passing web traffic to filter through a series of algorithms that distinguish legitimate search engines and user traffic from malicious traffic and other destructive attacks. Using these algorithms, Distils network can make decisions regarding the validity of each user in real-time, enabling content creators to transparently protect and control the distribution of their content.

CIT President and CEO Pete Jobse said, Distils cloud-based solution offers a barrier against the theft of proprietary online content a challenge facing many of todays businesses. Our investment demonstrates our commitment to funding entrepreneurs with an ambition to develop technologies that solve these challenges.

A key feature of Distils CPN includes simple integration, thus allowing for only one configuration change to occur before a client is able to use the software exclusively for their website. Operating in the cloud, Distil incorporates intelligent adaption allowing the aggregate data to distribute across all clients, efficiently adjusting algorithms to block new forms of data attacks. This immediate data push shields companies from dangerous cyber security threats instantaneously. Additionally, Distils cloud application accelerates the delivery of content through connection points that are closest to the end user, as a result improving page load times and reducing stress on client infrastructure. Distils platform also allows for each client to customize every aspect of the service to meet their specific needs.

Distil provides dynamic analytic filters and real-time data updates to ensure that our product is the most powerful solution against these types of threats. Our advanced software architecture, also allows us to offer denial of service (DoS) protection and content acceleration, said Rami Essaid, Distil Founder and CEO.

Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, CIT GAP Funds has tremendous belief in Rami and his ability to execute on the Distil vision. This company is an outstanding example of emerging security technologies that we have in the Commonwealth.

Since its 2005 launch, CIT GAP Funds has placed over 50 investments across the Commonwealth, deploying more than $ 5M of public funds and attracting $ 16 dollars of private funding for every $ 1 of public money invested. (For a list of portfolio companies, please visit the GAP Funds website.)

Learn more about Distil, Inc. by visiting their website and following them on Facebook and Twitter.

About the Center for Innovative Technology, http://www.cit.org

CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers.

About the CIT GAP Funds, http://www.citgapfunds.org

CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources.

###





Find More Tech Press Releases

24Mar/120

CIT GAP Funds Invests in RecargaX, LLC


Herndon, VA (PRWEB) January 26, 2012

The Center for Innovative Technology (CIT) announced today a $ 200,000 investment in Leesburg, Va.-based RecargaX, LLC, a company that allows money service businesses (MSBs) to expand their service offerings to large unbanked and under-banked sectors of the economy.

Through its integration with MSBs and a growing number of service providers, RecargaX gives over 100 million Americans that primarily conduct cash transactions the ability to pay their bills and top-up prepaid accounts at over 120,000 brick and mortar retail locations across the U.S. This product allows those who do not have access to a bank account a convenient and easy way to bring cash into and out of the digital economy. RecargaXs secure connection presents a new revenue opportunity for businesses offering check cashing, money orders, and travelers checks, by deriving transaction fees from millions of unbanked and under-banked consumers.

CIT President and CEO Pete Jobse said, RecargaX has signed and implemented relationships with major MSBs and wireless carriers, while also in advance negotiations with others. With CITs investment, these relationships will continue to develop as RecargaXs innovative technology advances.

Our network gives consumers the ability to replenish their prepaid mobile device, put cash into their mobile wallet, and add or remove cash from their online account, said Mark Smith, RecargaX President and CEO. These services are available everywhere a MSB is located: grocery stores, drug stores, and mass merchandisers.

Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, The RecargaX network was conceived, designed, and built by a founding team that has an intimate understanding of the payment clearinghouse business. This gives us great confidence that our investment with RecargaX will provide product technology enhancements, business development, and economic growth within the Commonwealth.

Since its 2005 launch, CIT GAP Funds has placed over 50 investments across the Commonwealth, deploying more than $ 5M of public funds and attracting $ 16 dollars of private funding for every $ 1 of public money invested. (For a list of portfolio companies, please visit the GAP Funds website.)

Learn more about RecargaX, LLC by visiting their website.

About the Center for Innovative Technology, http://www.cit.org

CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers.

About the CIT GAP Funds, http://www.citgapfunds.org

CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources.

###





Related Tech Press Releases

13Mar/120

CIT GAP Funds Invests in SphynKx Therapeutics LLC


Herndon, VA (PRWEB) January 18, 2012

The Center for Innovative Technology (CIT) announced today a $ 50,000 investment in Charlottesville, Va.-based SphynKx Therapeutics LLC. SphynKx focuses on the discovery and development of small molecule therapeutics that target the sphingosine 1-phosphate (S1P) pathway in novel ways, potentially leading to breakthrough treatments for diseases such as fibrosis and cancer.

SphynKxs S1P is a bioactive lipid that is an important regulator of many physiologic processes. Since abnormal S1P indicates the presence of disease, targeting the S1P pathway can serve as a platform for the development of advanced therapies. Although the S1P pathway is already a validated drug (Gilenya for MS) target, emerging data points to broad, untapped potential for S1P therapies in other areas of considerable medical need. The S1P3 receptor and sphingosine kinase 1 (SphK1) appear to be particularly important and SphynKx has proprietary drug candidates that specifically address these targets.

CIT President and CEO Pete Jobse said, SphynKxs innovative expertise in chemical biology advances our community towards the essential treatment needed for lung injuries, fibrosis, and cancer. CITs investment will allow them to help spur the life sciences industry of the future.

Within the SphynKx library, the company has a collection of sphingosine kinase inhibitors that offer a new and unique approach for targeting the S1P pathway. In cancer, SphK1 is functionally validated as a drug target, and importantly, SphynKxs SphK1 inhibitors are the most potent compounds reported to date. Recently, the biotechnology company has discovered a potent SphK2 inhibitor that may be useful in treating Alzheimers disease.

SphynKx Therapeutics President, CEO, and Co-Founder Andrew Bolt said, SphynKx has proprietary small molecule compounds that modulate the pathways in novel ways. With this investment, our primary goal is to conduct proof-of-concept testing for the treatment of cancer, fibrosis, acute lung injury, and stem cell mobilization.

Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, Andrew Bolt and his fellow co-founders discovered this life-saving technology and are recognized leaders in the field of S1P chemical biology. With support from the GAP Funds, SphynKx will conduct further research in producing treatments of such debilitating diseases, thus generating significant economic return within the Commonwealth of Virginia.

Since its 2005 launch, CIT GAP Funds has placed over 50 investments across the Commonwealth, deploying more than $ 5M of public funds and attracting $ 16 dollars of private funding for every $ 1 of public money invested. (For a list of portfolio companies, please visit the GAP Funds [website.)

To learn more about SphynKx Therapeutics LLC, visit their website.

About the Center for Innovative Technology, http://www.cit.org

CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers.

About the CIT GAP Funds, http://www.citgapfunds.org

CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources.

###





Find More Tech Press Releases

5Jun/110

Air Force Research Laboratory funds Howard U. HPC/Grid Center’s proposal

Air Force Research Laboratory funds Howard U. HPC/Grid Center’s proposal










(PRWEB) July 2, 2004

The Center for Applied High Performance Computing (CAHPC) located at Howard University in Washington D.C. announced today that the Air Force Research Laboratory (AFRL) has selected them for funding. The winning proposal, titled "A study of inverse methods for processing of radar data" will investigate applications of algorithms typically used for geophysical problems such as oil exploration to the reduction of “clutter” in radar imaging.

CAHPC Director Dr. Mohamed Chouikha said his team, was “looking forward to the exciting research challenge and to building a long term, mutually beneficial relationship with the Air Force Research Laboratory that produces useable computational solutions for the military while at the same time continually improving the education and research environment for the nation’s best minority students”. His multi-disciplinary team, which includes recognized experts in computational science, signal processing, software, security, and simulation, has a track record that suggests they will deliver on that desire. Previous work for the Army by members of their team has tackled computationally demanding challenges ranging from electro-magnetic signal processing to computer assisted cancer diagnosis.

The Center for Applied High Performance Computing began in 2003 as a collaborative effort between Howard University’s Department of Electrical and Computer Engineering and QuaTeams, Inc., a small Columbia, Maryland based business with IT capabilities and subject matter expertise. Researchers at the CAHPC focus on real world problems, primarily in areas of war fighting technology, homeland security, and bio-informatics. Engineers and students at the center are developing Grid technology that utilizes parallel supercomputing resources at Maui High Performance Computing Center (MHPCC) and the Army High Performance Computing Research Center (AHPCRC) in addition to their local on-campus resources.

For more information contact:

Jim Humphries    

CAHPC Deputy Director

humphrie@appliedhpc.org

240-463-6736

# # #



















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Find More Computer Press Releases

29Mar/110

ING Company Protects Pension Funds with Bitbrains, Grid Dynamics, and Microsoft Solutions

ING Company Protects Pension Funds with Bitbrains, Grid Dynamics, and Microsoft Solutions












Amsterdam and Fremont, Calif. (Vocus/PRWEB) February 10, 2011

ING Insurance Benelux deployed a cloud-based solution that uses a hosted platform from Bitbrains IT Services, Microsoft Windows HPC Server 2008 R2, and the HPC Excel Acceleration Toolkit (HEAT) solution from Grid Dynamics to significantly speed up financial simulations on insurance risk, saving hours of analysts’ time and increasing the accuracy of important financial information.

ING Insurance Benelux’s key financial models now execute from 10 to 50 times faster by running Microsoft Excel 2010 on a Windows HPC Server 2008 R2 cluster with a high performance infrastructure from Bitbrains and the HEAT solution from Grid Dynamics. Bitbrains IT Services is a leading provider of hosted cloud computing solutions and Grid Dynamics is an authority on systems scalability and cloud computing. Both companies are Microsoft partners.

ING Insurance Benelux, which handles life and non-life insurance, investment, and pension businesses in the Netherlands, Belgium, and Luxembourg, wanted to ensure that the company kept adequate pension fund reserves. It used a liability calculator to determine its hedging measures. Because they were limited to the processing power of stand-alone PCs, the company’s risk managers wanted a faster way to process simulations and obtain the information.

ING Insurance Benelux, Bitbrains, and Grid Dynamics worked jointly to transform the calculator into a 24-core Windows HPC Server 2008 R2 environment and using the Grid Dynamics HEAT solution, which makes it possible to convert complex Excel spreadsheets to run in a distributed, Windows HPC Server 2008 environment.

“The comparative test results were identical, just a whole lot faster in the Windows HPC Server 2008 R2 environment,” explained Hein Brat, program manager, Business Unit Corporate Clients at ING Insurance Benelux. “Our risk managers are hard to impress, but they’ve been really pleased with how well the cluster solution works and how easy it is to use.”

Company decision makers were so impressed that they asked the risk managers to recalculate every simulation that they had run over the previous year—in just two weeks. Bitbrains scaled up the cluster, adding 72 more cores overnight. Not only did the risk managers meet their deadline, but they also conducted a higher number of simulations, thereby fine-tuning the accuracy of the year’s results.

“Companies such as Grid Dynamics and Bitbrains IT Services are an essential part of making technical computing power more broadly available and accessible,” said Bill Hamilton, director, Technical Computing, Microsoft Corp. “With HEAT, Excel, Windows HPC Server 2008 R2, and Bitbrains’ expertise in complex infrastructures, our joint customers will accelerate their time to insight.”

Bitbrains IT Services is providing a cloud infrastructure platform for the application, with a special focus on compliance and security to meet the specific requirements of ING. The company has a creative approach to problem solving in HPC, helping companies with non-standard, complex, and challenging new endeavors. Teaming with leading vendors such as Microsoft and Grid Dynamics, Bitbrains is able to deliver solutions that exceed expectations.

Developed by Grid Dynamics, HEAT helps companies break through performance barriers that are typical with complex, compute-intensive financial models using Excel. HEAT defines the parallelization logic with very little programming effort and time and consequently offloads compute-intensive, time-consuming calculations to a cluster of servers, where the models can be processed much faster. This significantly reduces execution times.

“Combining our experience in managing IT environments with Grid Dynamics’ expertise in application scalability makes a powerful partnership, capable of solving many highly complex problems common to financial services companies,” added Gjalt van Rutten, CEO of Bitbrains IT Services.

“Because compliance and security is essential for financial institutions, Bitbrains’ expertise in application infrastructure for financial services perfectly complements our competence in high performance computing to deliver radical value to ING Insurance Benelux,” noted Victoria Livschitz, CEO, Grid Dynamics.

About Bitbrains IT Services

Bitbrains IT Services designs, builds and supports leading edge cloud computing solutions for companies that require extreme levels of continuity, reliability and scalability for their complex and mission critical applications. Bitbrains’ High performance computing concepts become reality with Extreme Engineering and Adaptive Hosting services. http://www.bitbrains.com.

About Grid Dynamics

Grid Dynamics helps companies achieve better performance, higher availability, faster time-to-market and lower operational costs by scaling mission-critical systems. Using the latest advancements in grid and cloud computing technologies, the company helps customers turn monolithic applications into scalable services; and static, underutilized server clusters into virtualized compute clouds. http://www.griddynamics.com

# # #






















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







20Mar/110

Despite Cholera Outbreak, Mattapan Tech Will Hold Pilot Project Management Workshops in Haiti. Students Launch Campaign to Raise Contingency Funds

Despite Cholera Outbreak, Mattapan Tech Will Hold Pilot Project Management Workshops in Haiti. Students Launch Campaign to Raise Contingency Funds










Boston, MA (PRWEB) October 29, 2010

Despite the Cholera outbreak, The Mattapan School Tech will hold pilot Project Management workshops in Haiti focused on proposal writing and project planning. Students launch campaign to raise contingency funds.

Mattapan Tech, a Boston-based technology learning center, will hold pilot workshops on November 20, 23 and 26 in Haiti focused on proposal writing and project planning in November. In the aftermath of the January 12th earthquake that killed thousands of Haitians and destroyed Port-au-Prince, the capital of Haiti, local and international organizations rushed to Haiti in an effort to help with rebuilding. Mattapan Tech is an institution specializing in providing project management and computer technology training in Massachusetts. The school designed a series of free workshops to update the skills of managers of non-profit and private organizations in anticipation that these skilled project managers will be a necessity for a successful Haiti reconstruction project.

To assist in this difficult endeavor, a group of Wentworth Institute of Technology alumni with extended project management experience and project management instructors at Mattapan Tech will travel to Haiti on a 10-day mission.

Despite the outbreak of Cholera that hit Haiti last week and which already caused nearly 300 deaths in Port-au-Prince’s neighboring towns, last night the volunteers of the Greater Boston/ Mattapan School of Technology reiterated their engagement to depart from Boston on November 20.

Harold Newcomb, Jr., a Vietnam War US Army veteran, and Karrie Ann Jean, the director of Mattapan Tech, have been very instrumental in raising funds to support the mission and keeping the crew motivated and focused on their specific humanitarian goal.

Christine Malcolm, the new head of the student committee at Mattapan Tech launched an initiative aimed at collecting children’s and women’s clothing for Haiti and money for a contingency fund to cover unexpected expenses in response to the possible escalated violence related to the upcoming election and threats cause by the Cholera outbreak.

Katleen Felix, the US coordinator of zafen.org, an organization that provides financial and logistic support to small projects in Haiti and the Clinton Global Initiative have also renewed their commitment to this endeavor.

Send your package or check to Mattapan Tech, 24 Regis Rd, Mattapan, MA, 02126. or visit the Mattapan Tech website at http://www.mattapantech.org. Noting that clothes should be clean and in good condition. The delegation will leave on November 20, 2010.

# # #



















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Find More Tech Press Releases

9Feb/110

Highgate Tech Fund 2 Gains Momentum Fast, Raising Record Funds in Run up to 31st Jan Initial Close for Tax Optimisation

Highgate Tech Fund 2 Gains Momentum Fast, Raising Record Funds in Run up to 31st Jan Initial Close for Tax Optimisation












Andrew Muir Chairman Highgate Tech Fund


London, UK (PRWeb UK) January 6, 2011

Highgate Associates and Enterprise Corporate Finance announces today that Highgate Tech Fund 2, the second investor fee free fund to be launched is already breaking fund raising targets just one month after release. Highgate Tech Fund 2 specialises in early stage UK based technology companies, supporting the wealth of entrepreneurs emerging from the current economic recession. Fund managers are prepared for a January rush on funding as investors look to EIS funds to optimise their tax positions and shelter capital gains.

Highgate Tech Fund 2 offers a unique approach and unlike other EIS funds will invest 100% of the funds raised into a portfolio of companies ensuring that investors receive the full benefit of their initial EIS relief. There are no fees charged to Investors and all money raised in the Fund will be transferred into shares across the portfolio of companies selected for investment by the Fund managers.

Highgate Tech Fund 2 is managed by Technology Industry veterans, a team of entrepreneurs who have successfully established, grown and exited high tech businesses globally for profit. The Investee businesses receiving investment from the Fund all benefit from this level of expertise to support the achievement of their business plans and forecasts. When Fund 2 finally closes at the end of July, the management team will have invested in a portfolio of between 6 and 8 early stage high tech businesses, all selected for investment based on clear acceptance criteria and extensive due diligence.

The success of this fund has been driven by the ‘famous 5’ EIS tax breaks, as well as the unique approach to fund management fees, the focus is on minimising the cost to investors and maximising the investment into the selected businesses. The Fund managers, who do not take salaries, will not achieve any benefit from the fund until it has delivered a minimum of 6% annualised return to investors.

Mr Andrew Muir, Co-Chair of Highgate Tech Fund 2 says “we are delighted to have successfully closed Fund 1, launched Fund 2 and to already be surpassing our targets, so soon after launch. The tax benefits of investing in an EIS Fund before the end of January are excellent for investors who want to optimise their tax positions. The Fund 2 Information Memorandum explains the Fund and benefits in detail for those who are interested.”

Highgate Tech Fund 2 is open to sophisticated investors with £5000 or more to invest in a portfolio of early stage high technology companies and has a first close date of 31st January 2011 and final close of 31st July 2011. This is a medium to long term investment opportunity with a 3-7 year exit strategy.

###





















Vocus©Copyright 1997-2011, Vocus PRW Holdings, LLC.
Vocus, PRWeb and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







More Tech Press Releases

Page 1 of 11