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Cafes and Computers: Venture Capital, Harvard-Style

Multiflow Computer Inc., Branford, Conn.: Aeneas was a major financial backer of the $35 million minisupercomputer firm--that is until March 26 of this year, when it closed. The surprise shutdown in a tight market left 160 people unemployed.

Oxxford Clothes Inc., Chicago, Ill.: Harvard and another company bought this manufacturer of ultra-expensive ($1000-$2400) men's suits earlier this year.

Invexco, Inc., Houston, Texas: Aeneas Venture has supplied $80 to $90 million for risky wildcat oil and gas exploration.

Copley Plaza Hotel, Boston, Mass. Aeneas Holdings and Phemus gave the developer a $20 million loan. In exchange, Harvard acquired an interest in the land beneath the posh city landmark.

Hana Biologics Inc., Alameda, Calif.: Aeneas Venture owns about $10 million worth of stock in this biotech firm. After controversial fetal tissue experiments failed and stock prices crashed, large investors took over--and Aeneas partner Michael R. Eisenson was installed as a director.

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HARKEN ENERGY CORPORATION

Harken Energy Corp., Dallas, Texas: Harvard and its affiliates own almost 30 percent of the common stock, and some preferred stock as well. The $40 million-plus investment landed Harvard Management's Donald D. Beane and Aeneas' Michael R. Eisenson on the board of directors. Also on the board is George W. Bush, the President's son. The company drills for oil and gas, and also operates a chain of E-Z Serve gas stations/convenience stores.

Tremont House, formerly the Quality Inn, Boston, Mass.: Harvard provided a $13 million mortgage for this property on the edge of the combat zone. As part of the deal, Harvard gets 50 percent of the hotel's receipts.

Sources: Boston Globe, Business Wire, Chicago Tribune, Computerworld, corporate reports, PR Newswire, proxy statements, San Francisco Business and Security and Exchange Commission filings.

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