Wednesday, September 20, 2006

Red Planet Capital Raises $75M From NASA For Emerging Technology Investments

San Mateo-based Red Planet Capital and NASA said Wednesday afternoon that the two have joined in a partnership to help NASA gain access to new technology through venture capital investments. Red Planet Capital, which is a nonprofit, will operate a strategic venture capital fund for NASA. NASA has invested approximately $75M in Red Planet. The new fund will be managed by Peter Banks, Graham Burnette, and Jacques Vallee. The fund is patterned after the CIA's In-Q-Tel venture capital efforts. More information »