Harris & Harris Group, Inc. (HHG) has made its first venture debt investment of $500,000 in GEO Semiconductor, Inc. The round of venture debt financing was led by Montage Capital, LLC. HHG received warrants as part of this venture debt financing. This investment is part of Harris & Harris Group's efforts to expand its core venture capital investments in equity of privately held and publicly traded small companies with debt securities that provide predictable cash flows and timelines for returns on investment. In addition to providing venture debt financing, Harris & Harris Group continues to make equity-based venture capital investments in companies developing and integrating products enabled by nanotechnology and microsystems.
GEO Semiconductor develops high-performance, programmable video and geometry pixel processor solutions that enable correction of color and brightness uniformity issues in light-emitting diode and laser backlit displays and in correcting optical anomalies and non-uniformity issues in smartphone cameras. GEO Semiconductor plans to use the proceeds to support current design wins for its chips and ongoing business development activities. A press release issued by GEO Semiconductor regarding this financing can be accessed at http://www.businesswire.com/news/home/20100928006556/en/GEO-Semiconductor-Closes-2-Million-Venture-Debt.
Harris & Harris Group is a publicly traded venture capital company that invests in nanotechnology and microsystems.