December 07, 2007
MURRAY HILL, N.J., Dec. 6 -- New Venture Partners LLC ("New Venture Partners"), the global venture capital firm dedicated to corporate technology spinouts, today announced that Dr. Paul Horn, former director of IBM Research, has joined the New Venture Partners' Advisory Board.
Dr. Horn led IBM Research, the world's largest research organization focused on information technology, for more than a decade. During his tenure at IBM Research, Dr. Horn oversaw the company's cross-disciplinary development of Blue Gene -- a USD 100 million dollar effort to build the world's first petaflop-scale computer for the express purpose of helping to understand how human proteins fold. While managing IBM's 3,000 researchers at eight labs worldwide, Dr. Horn also was involved with the development of several major multi-disciplinary projects including the Deep Blue supercomputer, the world's first copper chip, the giant magneto-resistive head (GMR) and strained silicon (a discovery that allows chips to run up to 35 percent faster).
He also is credited with creating a new management philosophy that views exploratory research and the delivery of marketplace-ready technology as inextricably linked. In 2002, Dr. Horn announced the formation of On Demand Innovation Services, an organization within IBM Research where scientists work directly with clients as consultants to gather real-world requirements and problems to fuel research projects.
In September 2007, after 28 years with the company, Dr. Horn retired from IBM. In addition to his new role with New Venture Partners' Advisory Board, he also was recently named a Distinguished Scientist in Residence at New York University working with the Stern School of Business, the Courant Institute of Mathematical Sciences and the Graduate School of Arts and Science.
"My career has focused on commercializing technology out of R&D labs and venture capital is an area where I thought I might be able to contribute my experience," said Paul Horn. "I know what corporate research does well and where the weaknesses are. New Venture Partners is the only venture capital firm with repeat experience in managing the intricacies of corporate technology spinouts, so joining this team was a natural fit for me."
New Venture Partners' Advisory Board is a prominent group of corporate R&D leaders, senior business executives and thought leaders. They play an active role in helping New Venture Partners' investment team manage critical issues facing the firm. New Venture Partners' Advisory Board brings an extensive global network and first-hand experience at senior levels of industry, research and development, government, and academia.
"We are delighted that Paul has joined New Venture Partners' Advisory Board," said Stewart Davies, Chairman of New Venture Partners' Advisory Board. "Paul brings vast experience from the global corporate technology sector and is acutely aware of the value the New Venture Partners' model brings to the industry. He will be a tremendous asset to the team."
Other members of New Venture Partners advisory board include:
About New Venture Partners LLC
New Venture Partners LLC, the global venture capital firm dedicated to corporate technology spinouts, has over USD 700 million under management. New Venture Partners provides a bridge between technology corporations and traditional venture capital. Through its unique, hands-on approach, the firm offers a systematic process for commercializing innovations and provides an alternative path to market for corporate technologies. The New Venture Partners team has completed over 50 spinouts from the R&D labs and business units of global technology corporations including Lucent/Bell Labs, British Telecom, Philips Electronics, Intel, Telstra, and others, and has become the benchmark for corporate spinout venturing. It has been the founding investor in such companies as Azure Solutions (acquired by Subex Systems), Celiant (acquired by Andrew Corp.), Flarion Technologies (acquired by Qualcomm), iBiquity Digital, InPhase Technologies, Internet Photonics (acquired by Ciena), Liquavista, Lucent Public Safety Systems (acquired by Intrado), SyChip (acquired by Murata), Vallent (acquired by IBM), and Vidus (acquired by @Road). Visit the Web site at www.nvpllc.com.
Source: New Venture Partners LLC
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