Blueprint Ventures, an early-stage venture capital firm
that specializes in financing early-stage corporate IP (intellectual
property) spinouts, today announced the expansion of its investment
team with the appointment of Jim Huston as venture partner and the
promotion of David Frankel to technology partner.
Reflecting its cornerstone emphasis on capital efficiency, two thirds of Blueprint's deals have been early-stage corporate IP spinouts based on technology from companies such as Intel, NEC, Fujitsu and Xerox PARC. Blueprint has led all of its spinout deals and syndicated them with leading venture capital firms. "We believe capital efficiency should be the basis of successful early-stage technology investing," said Bart Schachter, one of the founders of Blueprint and a managing partner. "These deals take advantage of significant previous R&D investment, reducing the capital needs of the venture syndicate, reducing technology risk and accelerating the time to liquidity."
Huston and Frankel will help Blueprint evaluate and find more opportunities in both traditional venture capital and corporate IP spinout deals. The firm will continue to seek "best of class" investments from multiple corporate and traditional sources. Huston, based in Portland, Ore., was previously a director of IP acquisitions at Intel Capital, and before that was director of strategic investments. While at Intel Capital, he closed more than a dozen patent acquisition transactions and over 15 equity investment transactions. At Intel, Huston also orchestrated the spinout of an industrial computing subsidiary to Radisys Corp., a public company that specializes in this arena.
Huston, who has known some Blueprint partners since 1991, is also a senior lecturer on commercialization and innovation at Portland State University. He will spearhead Blueprint's corporate IP spinout investments, particularly in Oregon and the Pacific Northwest. "Oregon, in particular, is attractive, partly because it houses many of the divisions of Intel and Hewlett-Packard," Huston said. "They have a lot of good technology in-house that they may never use."
Frankel, based in the firm's South San Francisco office, has been promoted to technology partner. Frankel has been working with the firm for more than four years. He will seek and evaluate traditional as well as IP spinout candidates. Frankel already has relationships with about two dozen such companies, and the number is growing. In a typical year, Frankel said, he will probably meet with dozens of companies and look at several hundred deals. "It's more effective to have an in-house technology person doing this than bringing in outside consultants, which other venture firms often do," Frankel said.
Schachter said Blueprint would accelerate its deal pace to as many as six deals a year. "The capital markets have changed, especially for technology companies, and efficient use of capital in building companies today has become one of the paramount factors in successful venture investing," Schachter said. "Jim and David fit both our firm's culture and investment model in seeking capital efficient projects in the years ahead."
About Blueprint Ventures
Blueprint Ventures is a seed- and early-stage venture capital firm focused on information technology, including systems, software and components. The firm helps seasoned entrepreneurs achieve market leadership positions. Located in the San Francisco Bay Area, Blueprint combines extensive experience in early-stage investing with an emphasis on corporate IP (intellectual property) spinouts. The firm targets companies that help deliver disruptive technologies to market in a timely, capital-efficient manner. Investments include AirTight, KeyEye, LANDesk, Platform Solutions, Vidient and Wispry. For more information, visit www.blueprintventures.com.
Reflecting its cornerstone emphasis on capital efficiency, two thirds of Blueprint's deals have been early-stage corporate IP spinouts based on technology from companies such as Intel, NEC, Fujitsu and Xerox PARC. Blueprint has led all of its spinout deals and syndicated them with leading venture capital firms. "We believe capital efficiency should be the basis of successful early-stage technology investing," said Bart Schachter, one of the founders of Blueprint and a managing partner. "These deals take advantage of significant previous R&D investment, reducing the capital needs of the venture syndicate, reducing technology risk and accelerating the time to liquidity."
Huston and Frankel will help Blueprint evaluate and find more opportunities in both traditional venture capital and corporate IP spinout deals. The firm will continue to seek "best of class" investments from multiple corporate and traditional sources. Huston, based in Portland, Ore., was previously a director of IP acquisitions at Intel Capital, and before that was director of strategic investments. While at Intel Capital, he closed more than a dozen patent acquisition transactions and over 15 equity investment transactions. At Intel, Huston also orchestrated the spinout of an industrial computing subsidiary to Radisys Corp., a public company that specializes in this arena.
Huston, who has known some Blueprint partners since 1991, is also a senior lecturer on commercialization and innovation at Portland State University. He will spearhead Blueprint's corporate IP spinout investments, particularly in Oregon and the Pacific Northwest. "Oregon, in particular, is attractive, partly because it houses many of the divisions of Intel and Hewlett-Packard," Huston said. "They have a lot of good technology in-house that they may never use."
Frankel, based in the firm's South San Francisco office, has been promoted to technology partner. Frankel has been working with the firm for more than four years. He will seek and evaluate traditional as well as IP spinout candidates. Frankel already has relationships with about two dozen such companies, and the number is growing. In a typical year, Frankel said, he will probably meet with dozens of companies and look at several hundred deals. "It's more effective to have an in-house technology person doing this than bringing in outside consultants, which other venture firms often do," Frankel said.
Schachter said Blueprint would accelerate its deal pace to as many as six deals a year. "The capital markets have changed, especially for technology companies, and efficient use of capital in building companies today has become one of the paramount factors in successful venture investing," Schachter said. "Jim and David fit both our firm's culture and investment model in seeking capital efficient projects in the years ahead."
About Blueprint Ventures
Blueprint Ventures is a seed- and early-stage venture capital firm focused on information technology, including systems, software and components. The firm helps seasoned entrepreneurs achieve market leadership positions. Located in the San Francisco Bay Area, Blueprint combines extensive experience in early-stage investing with an emphasis on corporate IP (intellectual property) spinouts. The firm targets companies that help deliver disruptive technologies to market in a timely, capital-efficient manner. Investments include AirTight, KeyEye, LANDesk, Platform Solutions, Vidient and Wispry. For more information, visit www.blueprintventures.com.
© 2005 Business Wire
