February 06, 2008

xconomy

ATV's New $300 Million Fund to Expand Firm's Reach to Green Building Materials and More

Advanced Technology Ventures slipped one by us. Over the holidays the Waltham, MA-based venture firm closed its eighth fund, at $303 million, and didn't put out a notice. VentureBeat broke the news in a small item two days ago, and ATV confirmed it-and gave me a bit more detail about the fund's investment targets and philosophy-this morning.General partner Bob Hower reports that "we are adhering to our core strategy of early stage clean tech, medical device, IT, and drug-discovery investing." However, he says, "We're also expanding a bit to include green building materials and non-therapeutic medical devices."ATV has been busy lately. In late January, the firm announced the addition of three senior associates-Thomas "Tom" Caputo, Ken Ebbitt, and Dharmesh Thakker-who will work in its IT practice. Caputo was most recently group product manager for Windows, over at Microsoft. Ebbitt hails from PayPal, and Thakker was director of corporate development at Keynote Systems.VentureBeat also reports that ATV recently took former entrepreneur in residence Todd Kimmel back into the fold. Kimmel co-founded Coskata, an Illinois-based cellulosic ethanol company, which recently signed a big R&D deal with General Motors. (Here's our conversation with ATV's Bill Wiberg about the deal.) He has now joined the firm's Palo Alto office as a principal.