October 5, 2006

Reston, VA and Cambridge, MA – New Atlantic Ventures has made key additions to its investor team, increasing the scale and scope of its early-stage venture capital firm.  Spinning out of the Draper Fisher Jurvetson Affiliate Network, the core teams from New Atlantic Ventures (formerly Draper Atlantic) and DFJ New England have joined forces to build a premier early-stage venture capital firm focused on the East Coast of the United States.

Todd Hixon and Scott Johnson have joined as Managing Partners, and Tim Rowe has joined as a Venture Partner.  Messrs. Hixon, Johnson and Rowe have worked together with New Atlantic’s current Managing Partners, John Backus and Thanasis Delistathis, on multiple investments over the past several years.  Mr. Rowe will also continue in his capacity as CEO of the Cambridge Innovation Center, located across from MIT, and home to 100+ early-stage technology companies.  Earlier this year, Jose Ferreira joined the New Atlantic Ventures team as a Partner.

“This is a natural expansion for two groups that share a passion for early-stage investing.  Together, we cover the entire eastern seaboard, which is underserved relative to Silicon Valley, yet comparable in deal flow,” said Mr. Backus.  “Those who know us well are not surprised by this at all,” commented Mr. Hixon.  “We have been part of the same family since 2000, have enjoyed working as a team on several deals, and together we significantly enhance our capabilities as a firm.”

The group will maintain offices in Reston, VA and Cambridge, MA, and will continue to invest up and down the East Coast.

The partners will continue to manage their legacy funds under their respective names (Draper Atlantic and DFJ New England).  “We have an incredible relationship with all of the partners at DFJ,” said Mr. Backus.  “We look forward to continuing to work with them on deals in the future.”