PRINT THIS PAGE US SAS Investors announce second closing on $40 million 17/11/2004. Source: AltAssets. 
 SAS Investors, a venture fund focused on the creation and growth of early stage technology companies in the northeastern U.S., has announced a $10 million second closing of its fund.
With $40 million total capital available to deploy in technology ventures, the firm said this fund now has sufficient resources to continue actively investing through the end of 2005.
“This increased commitment by our existing LP’s validates SAS Investors’ business model and the quality of our investment portfolio,” said Josh Grotstein, a General Partner and co-founder of SAS Investors. “Our investment strategy has resulted in a strong and diverse portfolio we and our LP’s believe will generate significant returns.”
The venture fund had its first close in early 2001. Initial investors Rho Ventures and Sevin Rosen Funds are now providing the additional commitment to SAS Investors, each increasing its $10 million investment to $15 million total.
“Our investment in SAS Investors has exceeded our initial expectations for the Fund,” noted Habib Kairouz, Managing Partner at Rho Ventures. “The Fund was initially launched in an environment unfavorable to technology based venture activity, especially very early-stage activity. Despite this hurdle, George, Josh and Ramana have established themselves with universities, corporate research labs and entrepreneurs as a ‘go-to’ fund. “
“SAS Investors has proven there’s a significant market in their region for a technology venture fund focused on true early-stage, pre-revenue opportunities.” added Steve Dow, General Partner at Sevin Rosen Funds.
“We’re encouraged by SAS Investors’ results, and believe providing additional capital will enable them to continue financing unique ventures that target meaningful voids in growing markets.”
New York-based SAS Investors (formerly known as Silicon Alley Seed Investors) was founded in 2001 and currently manages $40 million in committed capital. Since their formation, the firm has invested in 10 companies in the semiconductor, communications, storage, energy technology and software industries. Portfolio companies in which SAS Investors participated as an initial investor include Enpirion, Hydroglobe, Lemur Networks, Protonex, Reactive Nanotechnologies, Cebatech, and Tacit Networks.
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