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Advanced Technology Ventures: Staying Put in Waltham

Posted by Scott Kirsner  November 11, 2009 09:41 AM

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I've gotten some tips recently that two other Waltham venture capital firms have been considering a move to Boston and Cambridge. This comes in the wake of Greylock's announcement last week that they're taking space in Harvard Square.

I promise this won't become a blog obsessed with real estate, but...

...I put in a call this morning to Bob Hower, the partner at Advanced Technology Ventures in Waltham who is responsible for their lease. They're one of the firms that has been nosing around Boston and Cambridge, weighing their options.

"We've been talking about it," Hower told me. "But it's more in response to other people expressing some interest in our space [at the Bay Colony Center], which started six or seven months ago." Hower says ATV has a couple years left in its current lease, and "it's very unlikely we'd go anywhere before that."

But as a resident of Cambridge, he acknowledges the allure of being closer to the urban core. "The traffic around [Waltham] is horrendous, and it seems like the construction is never going to stop," he says. Hower also mentions that one reason that many Boston and Cambridge VC firms moved out to Waltham in the first place was to be at a "mid-way point" between the city and companies located out on Route 495, or up north on Route 3. But there's noticeably less action in those areas these days.

"It wouldn't surprise me" if more Waltham firms started to boomerang back to the city, Hower said.

Know who the other firm is that has been hunting for space in Boston or Cambridge? Do post a comment, or send me a private e-mail using the contact form on the right...

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1 comments so far...
  1. Any hints?

    Polaris Venture Partners would be my guess...since they have Dogpatch Labs in Cambridge.

    Posted by Keith Cline, VentureFizz November 11, 09 10:16 AM
 

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Scott Kirsner was part of the team that launched Boston.com in 1995, and has been writing a column for the Globe since 2000. His work has also appeared in Wired, Fast Company, The New York Times, BusinessWeek, Newsweek, and Variety. Scott is also the author of the books "Fans, Friends & Followers" and "Inventing the Movies," was the editor of "The Convergence Guide: Life Sciences in New England," and was a contributor to "The Good City: Writers Explore 21st Century Boston." Scott also helps organize several local events on entrepreneurship, including the Nantucket Conference and Future Forward. Here's some background on how Scott decides what to cover, and how to pitch him a story idea.

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