Battelle Ventures, L.P., and its affiliate fund, Innovation Valley Partners (IVP), have a combined $255 million under management to create and accelerate the development of early-stage technology companies with breakthrough solutions to key market problems.

The funds enjoy close relationships with the technology transfer offices of the National Laboratories that Battelle Memorial Institute (Battelle) manages or co-manages for the U.S. Department of Energy. They also have established similar associations with a number of university tech transfer and commercialization departments.

Battelle is the $220-million, Princeton, N.J.-based Battelle Ventures fund's sole limited partner and Eastern Tennessee business leaders back the $35-million, Knoxville, Tenn.-based IVP fund. Battelle Ventures' general partners also are general partners of IVP.