In-Q-Tel is a non-profit private investment firm, funded by the Central Intelligence Agency. It engages with start-ups, emerging and established companies, universities and research labs. The firm seeks to make investments in information technology businesses that serve U.S. national security interests. Specifically, In-Q-Tel prefers to invest in software which includes search, categorization & publishing, application integration, visualization, translation, geospatial design and simulation & modeling. In the infrastructure sector the firm prefers wireless, IT security, nanotechnology and semiconductors. In the physical & biological materials sector In-Q-Tel prefers power, sensors and biotechnology. The firm operates by providing development funding and taking small equity stakes in companies and typically takes an observer seat with the Boards of its portfolio companies. In-Q-Tel was founded in 1999 and is headquartered in Arlington, Virginia.