The Boeing Company announced today that it has made a $5 million investment in Alexander Hutton Venture Partners, a venture capital fund focused on technology companies in the Northwest.
The investment, the company's first in a Seattle-based fund, is part of Boeing's strategy to expand its R&D and innovation capabilities by participating in leading venture capital funds around the world that specialize in developing technologies of interest to the company.
"Boeing is investing in the Alexander Hutton Venture Partners fund because of its particular technology focus and strong operational support of the companies it invests in," said Miller Adams, director of technology planning and acquisition for Boeing Phantom Works, the company's advanced research and development unit.
"This investment also represents Boeing's commitment to invest in the Northwest region, where a great deal of excellent technology work is being done that can be used to streamline our business processes and enhance the value of our products and services," Adams added.
Through its investment in the Alexander Hutton Venture Partners fund, Boeing will have access to innovative technologies in such areas as Internet infrastructure, streaming media, business-to-business e-commerce, telecommunications and data networking software.
"We are very pleased to have Boeing join us as a limited partner," said Kent Johnson, Alexander Hutton Venture Partners' managing director. "Boeing's participation extends our network to help uncover new investment opportunities for the fund, and it gives our portfolio companies an opportunity to showcase their technologies to one of the nation's largest and most innovative companies."
Over the past two years, Boeing has invested in a number of venture capital funds in the U.S. as well as in the United Kingdom, Israel, Australia, Russia and Switzerland.
Based in Seattle, The Boeing Company is the largest aerospace company in the world, as measured by total sales, and the nation's leading exporter. Boeing is the world's largest manufacturer of commercial jetliners and military aircraft, and NASA's largest contractor. The company's capabilities in aerospace also include helicopters, electronic and defense systems, missiles, rocket engines, launch vehicles, and advanced information and communication systems. The company has an extensive global reach with customers in 145 countries and operations in 26 U.S. states.
About Alexander Hutton Venture Partners
Alexander Hutton Venture Partners, LP is a Seattle-based, $95-million venture capital fund. Inaugurated in December 1999, AHVP focuses on nurturing early-stage technology companies located in the Pacific Northwest. The AHVP investment team has served in leadership roles in some of the most innovative and successful technology companies in the region, including Microsoft, RealNetworks and F5 Networks. AHVP's portfolio includes Myrio, Appliant, NetUPDATE, nPassage, RevX.net, Smarterville and Wonderhorse.