RESTON, VA – New Atlantic Ventures says it has closed a new $115 million fund it plans to invest in early-stage information technology companies.

It is the Reston, VA and Cambridge, MA-based firm’s third fund, NAVIII. It will focus on East-coast startups in wireless data, new media, online business services and emerging technologies.

In one of the most challenging fund-raising environments in many years, New Atlantic Ventures say it attracted a strong roster of blue chip institutional investors, including endowments, pension funds, insurance companies, fund of funds and family offices from the United States, Europe and the Middle East.

John Backus, a Managing Partner with the firm. “Since 2000, our investment strategy has delivered superior financial returns to our investors.

“Our success in closing this fund at this moment in time shows that investors looking for superior financial returns continue to believe in early stage venture capital and its high-return prospects.

“This is a terrific time to have a fresh pool of capital, and we are putting it to work,” he said.

“Other venture funds have experimented with their business models over the last ten years with mixed results. So institutions appreciate the back-to-basics strategy we have always employed,” said NAV Managing Partner Todd Hixon.

“We have a cohesive senior team with operating credentials, a proven ability to add value, a focus on early- stage companies, an active screen for capital efficient business models, and a right-size fund. This combination has historically been the venture capital formula for market- beating returns.”

Online: www.navfund.com

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www.seventure.org

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