After a number of successful exits, including three IPOs, Cross Atlantic Capital Partners (“XACP”) has announced that it is terminating its vintage 1999 fund, Cross Atlantic Technology Fund, LP (“XATF”). As part of the termination process, XATF is liquidating its remaining portfolio company holdings, including its 668,572 shares of common stock in Rubicon Technology (NASDAQ: RBCN).
XACP expects the shares of common stock in RBCN held by XATF to be fully divested by June 30, 2013, although a specific schedule for the sales has not yet been set.
XACP will continue to actively manage Cross Atlantic Technology Fund II and its Co-Investment family of funds, and the sales for XATF will not affect the continuing ownership of the aggregate 4,985,677 shares of common stock and warrants for common stock of RBCN held by these other funds.
About Cross Atlantic Capital Partners
Based in Radnor, Pa, Cross Atlantic Capital Partners ("XACP") is one of the leading venture capital firms based in the mid-Atlantic region, with over $500 million under management. XACP invests primarily in technology companies in the United States. Leveraging its deep, multi-disciplined network of global contacts, and the operational experience of its investment team, the firm actively assists its entrepreneurs and portfolio companies. The XACP portfolio currently includes a diverse array of companies focusing on Enterprise Software, SaaS, IT Services, Telecommunications, Financial Services, and other innovative technologies. http://www.xacp.com/