Venture capital firms in Idaho join forces

Valley companies invest millions in Telemetric Corp.

For the first time, the Treasure Valley´s two venture capital firms have
joined forces to fund a Boise start-up.

Idaho Statesman

Akers Capital and Highway 12 Ventures announced investments
totaling $2.85 million in Telemetric Corp., which makes wireless
remote monitoring systems for the utility industry.

The investment is Highway 12 Ventures´ first since closing its $27
million funding in November.

“More than anything, we´re investing in the management team at
Telemetric,” said Mark Solon, managing partner with Highway 12. “They have a brilliant
inventor in their founder, Steve Hodges, and a world-class CEO with Scott Schoenherr. They
also have real products that solve real problems for customers.”

Akers Capital, which first invested in Telemetric a year ago, has an ongoing commitment to
the Boise company, said Tom Loutzenheiser, principal with Akers.

“We´ve been involved with the company since April 2001, and we feel real comfortable with
the management team and their progress,” Loutzenheiser said. “They´ve sold to over 100
electric companies; when we first funded them, they had only sold to a few.”

With their funding, both Akers and Highway 12 hold seats on Telemetric´s four-member board
of directors.

Akers, started in Boise in 1999, raised its first fund of $15 million in 2000. Five companies,
including Telemetric, have received monies from that fund. Loutzenheiser said Akers is poised
to launch its second fund.

Telemetric will use the additional funding to accelerate product development and expand
marketing efforts, Schoenherr said.

“We´re starting to see our business ramp up nicely,” he said.

Telemetric moved into a new location last week, doubling its square footage to 7,700 square
feet.

Schoenherr said the move was prompted by the need for more space for assembly.

Solon expects that Highway 12 will take as long as four years to complete all investments from
its $27 million fund, and anticipates the venture capital firm will make two to four investments a
year. Most investments will be in Idaho companies, he said.

“Our preference is to make every investment in Idaho, but we will make investments in the
intermountain Northwest for the right opportunities,” Solon said.

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