OVP leads $14M deal in Boston materials company Novomer |
Register here for our next TechFlash Live networking event, March 23, featuring an expert panel discussing the future of online advertising.
OVP leads $14M deal in Boston materials company Novomer
OVP Venture Partners typically invests in startup companies in the Pacific Northwest. But the Kirkland venture firm's latest deal is on the other coast.
OVP is leading a $14 million investment in Novomer, a Boston materials science company that is developing a new set of environmentally-friendly plastics, polymers and chemicals. Founded in 2004 with technology from Cornell University, Novomer's technology uses carbon dioxide to create these new materials.
The company's other backers include Flagship Ventures, Physic Ventures, and DSM Venturing.
OVP doesn't typically venture on to the East Coast for deals, though it is also an investor in Massachusetts-based Plectix BioSystems.
"We've always made limited exceptions for deals that fall outside the northwest but fit within our thesis and have high potential," said OVP spokeswoman Sara Morris. As part of the deal, OVP's Carl Weissman is joining Novomer's board.
The investment in Novomer also represents OVP's interest in backing highly scientific projects in the clean tech arena, a trend we pointed out last year. In that industry segment, OVP also has invested recently in Verdezyne, Tigo Energy and CarbonFlow.
Interestingly, none of those companies have their offices in the Seattle area.
[Hat tip to Xconomy]
About John Cook
John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
READ FULL BIOGRAPHYRecent Sponsor Posts
Seattle University Software Engineering
Chinwe Okeke (MSE’08) pursued her graduate degree while working as a developer and technical analyst for the Boeing Company. She picked the SU-MSE program for small class sizes and real world learning opportunities offered through the academic service-learning and capstone projects.
The MSE program at Seattle University is geared for working professionals with classes offered in the evenings. The program builds upon the computing experience of its students and offers courses in a variety of technical and management areas of software engineering, with an emphasis on teamwork and a disciplined approach to problem solving.
Marchex is one of Seattle’s largest ad technology companies with 300+ employees providing call and click based performance marketing products, and managing over $100m in ad budget for tens of thousands of advertisers. Our customers range from local businesses to the Fortune 500.
Our talented and creative product engineering group is hiring.
If you are an innovative software design engineer interested in solving difficult problems at scale, across a wide array of technologies from Lucene to Hadoop to Asterisk and SIP then we’d love to hear from you!
Apply now.
Technology Tax Planning – Did You Take The Deduction?
Technology companies require professional advisors who can assist in all aspects of the business. The BDO Technology Practice provides a full range of services tailored to help address the changing needs of domestic and international companies. In addition to core audit and tax services, BDO professionals can assist technology companies with:
· Revenue recognition
· Business combination accounting
· R&D tax credits
· Compensation and benefits
· Business valuations
Backed by 38 national offices and an international network in 110 countries, we have the domestic and global footprint to serve growing technology companies. Contact sphilpott@bdo.com (audit partner), mreeves@bdo.com (audit partner), psmith@bdo.com (tax partner), tzambito@bdovaluation.us.com (valuation), tfiscus@bdo.com, Director, 206.624.2020
Job Listings
- Principal Program Manager - Health Solutions Group - 711442
- Microsoft Corporation
- Software Development Engineer, Senior - SQL - External - 708993
- Microsoft Corporation
- Senior Staff Engineer - Printer & Scanner
- Intellectual Ventures
- Account Executive- Hospital - WA/OR
- RF Technologies
- Installer / Technician
- Northstar Broadband
