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SOURCE INVENT Ventures, Inc.
Deal Continues INVENT's Series of Investments in Emerging Technology Businesses
SANTA MONICA, Calif., March 7, 2013 /PRNewswire/ -- INVENT Ventures, Inc. (OTC QB: IDEA), a seed-stage venture fund and technology incubator, today announced that it has led the seed financing round in Sanguine BioSciences, a biotechnology company empowering patients in biomedical research. Along with INVENT, Heliant Ventures, a VC technology fund, jointly lead the round of investment in Sanguine.
INVENT's investment in Sanguine keeps with its strategy of building and investing in evolving and rapidly growing companies. In addition to Sanguine BioSciences, which supplies DNA data and bio-specimen to research organizations for the development of personalized medicines, INVENT has also developed Virurl Inc., one of the early pioneers in native advertising. Virurl builds tools and technologies to create native advertising campaigns, and has raised $1.2M in seed financing to date. Since formation in 2010, INVENT has built six technology companies, which have raised over $3.5M at an aggregate valuation over $10M, with under $450K of capital investment.
"We are thrilled to invest in Sanguine alongside Heliant Ventures and to further reinforce our holdings in what we believe are the next generation of exciting young technology companies," said Bryce Knight, CEO of INVENT. "With Sanguine, Virurl and our other portfolio companies, we have strong positions in technology businesses that are readily scalable, and we believe that each has the potential to go public if they elect to. Considering the vast value creation ability of technology companies, private and public investors alike are looking for exposure to early-stage technology, and we are very excited to be in a position to fulfill this need."
About INVENT Ventures, Inc.
INVENT Ventures Inc. (IDEA) is a publicly traded venture fund that builds and invests in transformative technology businesses. INVENT pursues ventures in the consumer Internet, mobile and biotechnology markets, and has built six companies at various stages of development. INVENT is headquartered in Santa Monica, California in the renowned Silicon Beach area. For more information on INVENT, visit www.invent.vc.
Cautionary Language Regarding Forward Looking Statements: This release and any attachments contain forward-looking statements within the meaning of the "safe harbor" provisions of the Federal securities laws, including Section 21E of the Securities Exchange Act of 1934, that involve risks and uncertainties. Words such as "will," "believe," "intend," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements include the quotations from management in this press release, as well as any statements regarding the Company's anticipated financial results and strategic and operational plans. The Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may contribute to such differences include, but are not limited to: the Company's ability to deliver an adequate rate of growth and manage such growth; the impact of changes in government regulation and industry standards; the Company's ability to maintain and increase the number of visitors to its websites; the Company's ability to identify and manage acquisitions; the impact of the current economic climate on the Company's business; the Company's ability to attract and retain qualified executives and employees; the Company's ability to compete effectively against others in the online marketing and media industry; the impact and costs of any failure by the Company to comply with government regulations and industry standards; and costs associated with defending intellectual property infringement and other claims. More information about potential factors that could affect the Company's business and financial results is contained in the Company's latest annual report. These forward looking statements are made as of today's date and, except as otherwise required by law, the Company does not intend and undertakes no duty to release publicly any updates or revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof.
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