Headquartered in Los Angeles, California, ITU Ventures was founded in 2000 by Chad Brownstein and Jonah Schnel. The firm focuses on investing in start-up companies based in California, New Mexico, and the Midwest region of the United States, particularly in the software, semiconductor, and commercial product sectors. With a portfolio of three companies and 17 successful exits, ITU Ventures has made notable investments in companies such as Luxtera, Holochip, Chip Estimate, and Authenticlick. The firm raised $120 million for its ITU Ventures III fund in 2006, which is used to invest in communication, semiconductor, and software-related technologies.