Highway 12 invests in Colorado firm – Pete Gombert joins Highway 12

Boise venture capital firm Highway 12 Ventures http://www.highway12ventures.com/ has added a Colorado software firm to its portfolio of investments.

Highway 12 was the lead investor in a $3 million round of funding for @Last Software, a company that makes a drawing program that lets you sketch in 3-D. Highway 12’s contributed $750,000.

Julie Howard
The Idaho Statesman

http://www.idahostatesman.com/apps/pbcs.dll/article?AID=/20040804/NEWS0202/408040309/1029/NEWS02

The software is geared primarily toward architects and designers, but allows for varied uses from entire cities to video gaming environments to a deck remodel.

"We think this is a great investment opportunity for our investors," said Phil Reed, a partner in Highway 12 who will join @Last Software’s board of directors as part of the deal. "We feel strongly that we can contribute through coaching and building their management team."

Highway 12 joined Borealis Ventures and In-Q-Tel, the investment arm of the CIA, in the financing deal. This is the second time Highway 12 has teamed up for an investment with In-Q-Tel, which identifies and invests in technology that serves U.S. national security interests.

Reed said the CIA is interested in the firm because of the use of the software for tactical simulations.

"They can use it to prototype a hostage situation and then create a video game around it where agents can simulate rescue operations," he said.

Founded in 1999, @Last Software released the Windows version of SketchUp in 2000 and the Macintosh version in 2002.

The software program was awarded Best of Show at this year’s MacWorld exposition.

This is the eighth investment for Highway 12, which has a $27 million fund.

Highway 12 focuses on investing in technology companies. It also has portfolio businesses in Idaho, Oregon, Utah, and Washington.

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Boise entrepreneur joins Highway 12

Statesman staff

http://www.idahostatesman.com/apps/pbcs.dll/article?AID=/20040803/NEWS02/408030323/1029/NEWS02

Pete Gombert, an entrepreneur and software executive, has joined Highway 12 Ventures advisory board.

Gombert, a Boise resident, was founder of Enerx Development, which was acquired by London-based KW International in 2001. He now serves as an executive with KW.