Phoenix Venture Partners LLC Raises 2nd Fund, PVP II LP

          Phoenix Venture Partners LLC (PVP) announced today that it has officially closed its new flagship venture capital fund, PVP II LP. The Fund's limited partners are composed of sophisticated financial institutions, family offices, and leading multinational corporations (strategic investors). PVP II LP's strategic investors include a who's who of market leaders in their respective industries, including Pfizer Inc., 3M, Corning Incorporated (NYSE:GLW), Eastman Chemical Company (NYSE:EMN), Solvay Group S.A., Showa Denko K. K. (TSE:4004), and W. L. Gore & Associates.

          As the leading venture capital firm focused on Advanced Materials, PVP is known by entrepreneurs and corporations globally. PVP forges deep partnerships with its strategic investors and works closely with them to identify attractive market opportunities.

          Following on the PVP partners' successful track record, PVP II LP will focus exclusively on investing in start-ups developing breakthrough Advanced Materials innovations.  As in its prior fund PVP I LP, PVP will work with a limited number of leading corporations from different value chain positions, geographies, and industries to identify industrial opportunities and to vet "best in class" start-up technologies. PVP's partners also work closely with entrepreneurs, leveraging their domain experience as successful inventors, founders, start-up operators, and C-level executives.

          Dr. John T. Chen, Managing General Partner of PVP, commented, "We are pleased by the continued support we received from our existing LPs and strong interest in PVP II LP from new investors. The Fund is off to a great start, having already made several new investments."

          Dr. Zachariah Jonasson, Managing General Partner of PVP added, "We are excited to be working with both the most innovative multinational corporations and entrepreneurs globally."

          About Phoenix Venture Partners LLC

          Phoenix Venture Partners LLC is a leading venture capital firm that invests in and partners with entrepreneurs to commercialize breakthrough Advanced Materials innovations. PVP's team has an unparalleled track record of founding, building and investing in successful Advanced Materials start-ups across multiple industrial application areas. The firm's investment strategy is flexible and predicated on assisting entrepreneurs with customer and supply chain partnerships, business development, as well as with strategic and operational support. PVP collaborates with a select set of forward-looking global corporations on business development and open innovation interests. PVP is based in the Silicon Valley with a satellite office in Seattle, WA.  For additional information please visit our website at www.phoenix-vp.com .