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BA Venture Partners Funds 12 New Deals, Has 4 Major Exits During 2003
Venture Capital Firm Invested in More Than 20 Companies, Had First Biotech IPO of 2003, and Two Company Sales Over $200M
BA Venture Partners Continues Successful Multi-Sector Strategy
Foster City, Calif., January 5, 2003 - BA Venture Partners today confirmed it was an active investor in funding rounds for 24 companies in 2003. BA Venture Partners led or co-led 11 of 12 investments totaling over $200M for new portfolio companies in the firms core focus areas: networking, semiconductor, software, medical technology and biotechnology companies. "BA Venture Partners has consistently followed a focused and diversified strategy. Our breadth of new deals in 2003 demonstrates our commitment to leading in our key areas, and also the range of expertise within the partnership," said Kate Mitchell, managing director, BA Venture Partners. "We prefer to invest across all stages of a company's development, from first venture round to mezzanine stages and our investments are driven more by our industry focus than a particular stage preference." The 12 new companies BA Venture Partners invested in are:
Liquidity Events BA Venture Partners was actively involved in four liquidity events in 2003 including three acquisitions (PlaceWare, Zone Labs, and Cygnal) and Acusphere, which was the first biotech IPO of 2003. Two of the firm's exits were each over $200 million. Rory O'Driscoll, a managing partner with BA Venture Partners, was involved in the PlaceWare and Zone Lab acquisitions. "We actively work with companies to build their business and we take a hands on approach," said O'Driscoll. "The fact that we were able to help our portfolio companies achieve these mergers, acquisitions and IPO's provides further validation of the benefits we provide companies in addition to capital." Recap of 2003 liquidity events:
2004 Outlook BA Venture Partners foresees a positive climate in 2004 for investing in good companies and the firm is actively seeking investments in companies that are within its focus areas: networking, semiconductor, software, medical technology, and biotechnology companies. "BA Venture Partners has stuck to its investment strategy from day one which has enabled us to work with some great companies, technologies and management teams," said Mark Brooks, a managing director at BA Venture Partners who was actively involved in the acquisition of Cygnal. "While we look forward to continuing our work with our current portfolio companies we are excited about the new prospects yet to be identified for the coming year." About BA Venture Partners BA Venture Partners, a venture capital partnership, leads start-up to expansion stage investments in networking, semiconductor, software, medical technology and biotechnology companies. The firm closed BA Venture Partners VI, a $500 million fund, in 2000. BA Venture Partners' sole limited partner is Bank of America. Visit their website at www.BAVenturePartners.com. # # # Contact Information:
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