SOURCE: ITU Ventures

February 20, 2007 14:19 ET

ITU Ventures' First Investment, OnWafer Technologies, Is Acquired

Strategy of Working Closely With University Researchers Proves to Be Successful

LOS ANGELES, CA -- (MARKET WIRE) -- February 20, 2007 -- ITU Ventures announced today that its first portfolio investment OnWafer Technologies, a company providing novel measurement and control solutions to the semiconductor industry, has been acquired by a large semiconductor capital equipment company (buyer not disclosed).

OnWafer Technologies was founded in May of 2000 to pursue a vision that had grown from public domain research, initially conducted at the University of California, Berkeley. The UC System (Berkeley) stands to benefit from this acquisition through a significant licensing arrangement.

"As ITU's maiden investment in 2000, this represents a continuing validation of our proven strategy. A success for the investors, founders and University of California licensing strategy, we are pleased that our investment practices continue to deliver solid returns," said Chad Brownstein, Managing Partner of ITU Ventures.

Jonah Schnel, Managing Partner of ITU Ventures, went on to say, "It is very validating to see the full cycle of technology transfer from the university laboratory to the commercial marketplace. OnWafer's technology founders, from the University of California at Berkeley, executed well on their vision of creating innovative product for in-situ measurement for semiconductor manufacturing."

About ITU Ventures

ITU Ventures is the premier venture capital firm serving the unique needs of technology businesses emerging from the nation's leading universities, research institutions, federal labs, and technology corporations. ITU Ventures invests in early-stage companies that are commercializing next-generation technologies. Jonah Schnel and Chad Brownstein are the Managing Partners of ITU Ventures. Website: www.itu.com

Contact Information

  • For more information contact:
    ITU Ventures Media
    Keka Schermerhorn
    (310) 777-5913