March 31, 2006
Fundamental Technologies II Invests in MetroBridge
Fundamental Technologies II Corp. (FT II) announced today that it is adding to its portfolio of emerging technology companies with an investment in MetroBridge Networks, a privately held Vancouver-based company that uses WiMAX to provide wireless Internet and inter-office data connections for business customers.
FT II is an investment vehicle that allows accredited investors to participate in the returns from a portfolio of actively managed, synergistic investments in emerging technology companies.
The MetroBridge investment is the fourth position added to the FT II portfolio since inception in June of 2005.
MetroBridge provides data connections to businesses in the Greater Vancouver Area that are faster, much less expensive and far more reliable than legacy providers using only fiber, ADSL or cable networks. The company has established a redundant wireless network with more than 2500 sq. km of coverage in the Greater Vancouver region.
“MetroBridge is a world leader in deploying WiMAX technologies," said Dr. Basil Peters, FTII CEO and portfolio manager. "They provide the only internet connectivity option truly independent of the legacy providers. This faster, more reliable and less expensive connectivity is a key driver for the next generation of online business."
MetroBridge clients include Canadian Tire, Ritchie Bros., Maynards, Natures Path, General Electric, Stemcell, Cantest, HY Louie, TIR Systems and others. The company is now raising capital to expand into the US market.
For more information, please visit www.MetroBridge.com.
Rick Peterson, FT II President, added “MetroBridge’s addition to our portfolio offers further diversification for FT II investors and adds another opportunity for synergy among our portfolio companies.”
“We are investigating a number of other emerging technology companies to add to our portfolio in the near future,” says Peterson. “We believe this sector offers excellent growth potential for our fellow investors over the next three to five years. Our plan is to be well-positioned early in this cycle. We’re very happy with our existing portfolio, our low cost structure and our encouraging results to date.”