SBIC-licensed venture capital fund bringing needed capital to high-growth companies in underserved Midwest markets

Chicago, January 23, 2005 – Hopewell Ventures, a $100 million venture capital fund licensed by the U.S. Small Business Administration as a Small Business Investment Company (SBIC), announced today that it has made a $2 million venture investment in iTRACS, a leading provider of intelligent physical layer network infrastructure management solutions. Hopewell was part of iTRACS $18 million second round of financing.

With its increasingly successful business model, iTRACS provides cable management, intelligent infrastructure management, security, and other applications directly, and in partnership with OEM channel partners. iTRACS will use the additional financing to launch a new suite of easy to use software for network infrastructure tracking and IT change management and to hire additional sales and product management personnel.

The company’s flagship product, iTRACS, is the world’s first automated, intelligent network asset management and control system. Customers such as HSBC, Northern Trust Bank, the U.S. Senate and Midway Airport in Chicago use iTRACS to manage mission critical networks of data, voice, security and other premise wiring and cabling.

"Hopewell is very pleased to support iTRACS as it continues to accelerate its market leadership," said William Sutter, Managing Partner at Hopewell Ventures. "iTRACS continues to execute successfully on its business plan, steadily growing its footprint in the financial services, government agencies, manufacturing, pharmaceutical and utilities industries. We are excited to support the expansion of this pioneer and leader of the intelligent cabling industry."

“The market is moving toward intelligence and to prevent cyber-terrorism. Companies need to secure their information at all layers of their systems network,” said Tom Reedy, President and Chief Executive Officer at iTRACS. “This is a tremendous milestone for iTRACS, reflecting investor confidence in our business, people and market opportunity. This funding further increases assurance in our ability to maintain a leadership position in this market.”

iTRACS is headquartered in Westchester, Illinois.