National Venture Capital Association Highlights 2Tor and Capital Schools During Global Entrepreneurship Week
Novak Biddle Portfolio Companies Exemplify Entrepreneurship in Education
Bethesda, MD, November 15, 2010 — The National Venture Capital Association (NVCA) today highlighted two Novak Biddle Venture Partners (NBVP) portfolio companies — 2Tor, Inc. and Capital Schools — as part of its 2010 Global Entrepreneurship Week Initiative. 2Tor, which partners with elite universities to develop top-quality online degree programs, and Capital Schools, which creates model school programs for children with autism spectrum disorder and other specialized learning needs, are among the select venture-backed companies featured this week for their commitment to innovation.
NBVP is a pre-eminent early stage Mid-Atlantic-based venture capital firm and is among the top investors nationwide in the education industry.
"Education is an industry that has real impact on daily life and it's been a passion of ours, and a cornerstone of our investment model, for 15 years. We see gifted entrepreneurs with a vision to greatly improve various components of the education ecosystem including technology platforms (Blackboard, Nasdaq: BBBB), online higher education (2Tor) and special needs education (Capital Schools). We are proud to partner with these and all of our companies to transform vision to reality," said Roger Novak, general partner and co-founder Novak Biddle Venture Partners.
"While venture capital investment is mostly associated with high tech innovations, venture capitalists also invest in 'high touch' companies as well. During Global Entrepreneurship Week we thought it was important to show venture capital's participation in some of these areas such as education, a sector that directly impacts American lives in a universal way. We applaud Erik Heyer of Capital Schools and Jeremy Johnson of 2Tor and the thousands of entrepreneurs like them who help drive innovation and the start-up economy," added Mark Heesen, president, National Venture Capital Association.
2Tor and Capital Schools are among the first companies showcased on "NVCA Spotlight," a website feature highlighting venture-backed companies nationwide and developed in partnership with Tuck School of Business at Dartmouth College.
The NVCA Spotlight launched today in conjunction with Global Entrepreneurship Week, a worldwide initiative that encourages young people to embrace creativity and turn ideas into reality.
About Novak Biddle Venture Partners
Novak Biddle Venture Partners is a leading early stage venture capital firm focused on unique, cutting-edge technology investments in the Eastern United States, as well as targeted opportunities nationwide. With $580 million under management, Novak Biddle operates five venture funds that currently provide equity financing and management assistance to 42 portfolio companies. Novak Biddle continues to seek business situations where the combination of ideas, dollars, experience, and relationships can create long term, sustainable value. A sampling of companies funded by Novak Biddle include: RFID first-mover Matrics, voice over IP trailblazer Telogy, education technology leader Blackboard Inc. and intelligent video surveillance pioneer ObjectVideo. For more information, visit www.novakbiddle.com