LOS ANGELES -- ITU Ventures, a premier provider of seed and early-stage venture capital to technology businesses emerging from the nation's leading universities, research institutions, and corporations, announced today the closing of ITU Ventures III with total commitments of $120 million.

"We are excited about the depth of the investor base, including new and return commitments," said Chad Brownstein, Managing Partner. "The ITU team appreciates our investor support, which is the validation of our unique investment strategy."

The firm's limited partners are solely established institutional investors consisting of university endowments, pension funds, and fund of funds from both North America and Europe.

ITU Ventures III will continue to allow ITU to participate as a lead investor in seed and early-stage financings. The partnership plans on investing the new fund in communication-, semiconductor-, and software-related technology businesses, as well as opportunistic situations.

"ITU has set a standard as a lead investor that leverages the strength of domestic research facilities," said Jonah Schnel, Managing Partner. "Our firm will continue to challenge standard industry conventions and remain opportunistic."

In addition to ITU's team of experienced investment professionals, ITU's internal resources are augmented by an active Venture Advisor program consisting of world leaders in the areas of finance, technology, law, and entrepreneurship.

Information Technology University Ventures