KIRKLAND, Wash./OSWEGO, Ore. – Olympic Venture Partners invests in information technology, communications and life science companies, mostly in the Pacific Northwest.
The group’s latest fund, Olympic Ventures Partners IV, wrapped on $63 million in 1997 and has one or two deals remaining to close. Founded in 1983, Olympic has $160 million under management and anticipates raising a new fund shortly, said General Partner Gerry Langeler.
About half the firm’s investments are in Internet and IT companies, while 30% are in communications and 20% in life sciences, said Langeler, the sole G.P. in the firm’s suburban Portland office. The other three general partners, George Clute, Chad Waite and Bill Miller, are based outside Seattle.
Olympic focuses on early-stage companies that have not begun shipping their products, but the firm also makes occasional seed- and later-stage investments to help balance a fund, Langeler explained. Over time, the firm will invest an average of some $3 million to $4 million in a company.
At press time, Olympic has led or co-led all of the 15 deals completed from its latest fund, and the firm always takes a board seat on its portfolio companies.
Limited partners include Oregon Public Employees Retirement System, Washington State Investment Board, Kauffman Foundation, University of Richmond, Tredegar Industries, Key Capital Corp., Meyer Memorial Trust, Kenyon College, Dow Employees Pension Plan, Western Metal Industry Pension Fund, Graystone Venture Fund and family offices.
Following are a sample of Olympic portfolio companies:
800.com Inc. (Portland, Ore.) is an Internet commerce site for consumer electronics.
Co-investors are Trinity Ventures, Asia Pacific Ventures, CB Capital and Dain Rauscher.
@mobile.com (Bellevue, Wash) develops Internet service applications to link wireless phone and Internet users.
Sutter Hill Ventures co-invested.
Captivate Network Inc. (Westford, Mass.) makes high resolution flat panel screens that are installed in elevators and lobbies of hotels and office buildings to carry Internet video content and advertsing.
Advent International, ASB Ventures and Primus Venture Partners Inc. were co-investors.
Elf Technologies Inc., (Mercer Island, Wash.) is a legal management software and consulting operation.
Co-investors were Fluke Capital and Benaroya.
encoding.com, (Seattle)is a company that encodes audio and video for the Internet.
Encompass Ventures and Kirlan Ventures co-invested.
Preview Systems Inc. (Cupertino, Calif.) develops software for secure e-commerce. The company has merged with Portland Software.
Co-investors were Discovery Ventures, Encompass Group, France Telecom Innovacom, Intel Corp., InveStar Capital, Itochu Technologies, Phoenix Partners, RWI Group II L.P., Sand Hill Financial, Sony Corp. and Telos Venture Partners.
Rosetta Inpharmatics Inc.,(Kirkland, Wash.) develops genetic drug discovery technology.
Vulcan Ventures, Tredegar Industries and Lombard Odier co-invested.
Vascular Solutions Inc. (Minneapolis) makes medical devices for vascular healing.
Co-investors were Stephens Inc., Tredegar Industries and Kirlan Ventures.
SignalSoft Corp.,(Boulder, Colo.) makes location information software for wireless communications.
Tredegar Industries and Lazard Technology Partners co-invested.
WatchGuard Technologies Inc. (Seattle) develops low-end firewall systems and other Internet security products. The company went public on Nasdaq in late July.
Matrix Partners and Kirlan Ventures co-invested.
Coinstar Inc.(Bellevue, Wash.) develops self-service coin-counting machines. The company trades publicly on Nasdaq.
Olympic Venture Partners has offices at 2420 Carillon Pointe, Kirkland, Wash., 98033, tel: (425) 889-9192, fax: (425) 889-0152 and 340 Oswego Point Drive, Suite 200, Lake Oswego, Ore., 97034, tel. (503) 697-8766, fax: (503) 697-8863. The firm’s Web site may be found at www.ovp.com.