ROCHESTER, N.Y., March 25, 2008 (PRIME NEWSWIRE) -- Advantage Capital Partners, a leading venture capital firm, has invested $600,000 in Chapman Instruments, a developer of optical, non-contact equipment for topography measurements of critical surfaces. Advantage Capital made its initial investment in the company in 1998, and this latest financing brings the total amount invested to nearly $4 million.
"Our business is expanding along with our customer base," said Thomas Bristow, president and CEO of Chapman Instruments. "The funding from Advantage Capital will allow us to roll out a new product line and maintain our role as an emerging key player in the semiconductor industry."
Chapman Instruments, based in Rochester, N.Y., designs and manufactures optical equipment that measures semiconductor wafer and hard disk drive surface roughness and thickness. The company is a leading inspection equipment provider, with major customers that include Amkor, Fuji, Fujitsu, LG and ST Microelectronics.
"Chapman is one of the few semiconductor companies located in western New York. Our investment will help the company expand and bring additional well-paying technology jobs to the Rochester area," said Scott Murphy, Advantage Capital managing director. "We are pleased to enable the company's continued growth."
Advantage Capital invested in Chapman Instruments in connection with New York's Certified Capital Company program, which encourages the flow of investment capital to promising companies located in the State of New York.
About Advantage Capital Partners
Advantage Capital Partners (www.advantagecap.com) is a venture capital and small business finance firm focused on early stage companies and other investments supporting state and local economic development. With offices in New York, Louisiana, Missouri and other states, Advantage Capital has raised more than $950 million in institutional private equity since 1992 and invested in companies located in geographic areas underserved by traditional venture capital.
About the Certified Capital Company program
Advantage Capital Partners is a leading participant in the Certified Capital Company (CAPCO) program, a state economic development tool designed to strengthen state economies by stimulating the flow of investment capital to local small businesses, creating high-paying jobs and increasing state tax revenues. Under a CAPCO program, insurance companies are encouraged to invest in certified capital companies; the state allows the insurance companies to claim tax credits for qualified investments in CAPCO funds. Taken over time, the tax credits generate large pools of private venture capital to be invested in the state. CAPCOs leverage the funds received from insurance companies to invest in qualified small businesses. For more information, visit www.advantagecap.com/state_investment_programs.htm.