Adam Shaw Joins ITU Ventures

ITU Ventures would like to welcome on board its newest Executive, Mr. Adam Shaw.

Mr. Shaw was recently hired to complement the company's roster of Executives in Residence. The announcement was formally released by ITU Ventures to the press today April 23, 2007.

Prior to joining ITU Ventures, Mr. Shaw was Senior Vice President of distribution, sales and marketing for the NFL Network. Due in part to Mr. Shaw's guidance, the NFL Network became the first ever media network to reach the 20-million subscriber mark during its first year of operation. And during his stint, he was part of the team that guided the company towards claiming a 40 million-strong subscriber base.

Mr. Shaw will be focusing on identifying and pursuing new investment opportunities in the Media and Communications areas now that he is part of ITU Ventures.

The full press release of this story can be found at ITU Ventures Press Release Center:

ITU Ventures Hires Adam Shaw

Comet Solutions Receives More Funds from ITU

Comet Solutions™, Inc., a leading provider of software that enables early simulation to drive innovative product development, announced that it has raised an additional $2 million in the final tranche of its Series A funding. Dan Meyer, president of Comet Solutions, stated , “We obtained this additional financing from our existing investors as a result of the company’s performance last year in achieving goals related to product delivery and customer acceptance.” Chad Brownstein, Managing Partner at ITU Ventures observed, “the Comet team has developed a leading PLM solution and we are very enthusiastic about their current prospects.”

Comet Solutions’ investor group includes Flywheel Ventures, Fort Washington Capital Partners Group, ITU Ventures, and New Mexico Angels, Inc. Flywheel, Fort Washington and ITU all have significant backing from the New Mexico State Investment Council’s regional private equity program. The program has helped New Mexico become one of the fastest-growing regions for technology entrepreneurship in the nation. “We are pleased that Comet continues to leverage the plentiful resources within the State of New Mexico to build a best-in-class product and management team” stated Jonah Schnel, Managing Partner at ITU Ventures.

ITU Ventures Sells OnWafer Technologies

ITU Ventures announced today, February 16, 2007, that OnWafer Technologies has been successfully acquired by a large semiconductor capital equipment company. ITU Ventures management did not disclose the identity of the acquiring company nor the terms or total amount involved in the acquisition.

OnWafer Technologies is ITU Ventures maiden investment, funded way back in the year 2000 during the company's first year of operation. This successful exit which resulted in the deliverance of solid returns, marks the validation of the company's proven investment strategy, according to Managing Partner Chad Browstein.

Welcome, Mr. Leslie Bider!

The company officially announced today, February 26, 2007, that Leslie E. Bider will join ITU Ventures as the firm's Chief Strategist. Mr. Bider was the former Chairman and CEO of Warner Music, Incorporated and is a very experienced and respected top-level executive. He will focus his work on the creation of value for the company's investments in both the team and portfolio levels.

Welcome on board, sir.