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BA Venture Partners Relaunches As Scale Venture
Partners
Scale Venture Partners II, a $400 Million
Fund, Now Independent from Bank of America, Brings New Institutional
Investors Onboard
Wednesday, January 3, 2007Foster City, Calif - January 3, 2007 -- BA Venture Partners (BAVP) announced today that it has relaunched as Scale Venture Partners, investing an independent $400 million fund that employs a thesis-based strategy to identify innovative development-stage technology and healthcare investments in emerging markets. Original limited partner, Bank of America, becomes a minority investor in Scale's Fund II with a diverse group of new institutional investors comprising the majority of its limited partner base. Scale Venture Partners also announced that it closed 2006 with 8 exits and 29 financings totaling more than $90 million. "We launched our first fund in 2000 with the goal of eventually bringing in outside investors," said Kate Mitchell, Managing Director with Scale Venture Partners. "It's gratifying that the market recognized the quality of the team and our top-quartile performance over the last several years. This success has reinforced our commitment to our thesis-based approach to investing. The long-term support of large blue-chip investors will allow us to continue to build value in our portfolio companies." Since 2000, the Scale team has delivered top-quartile results by implementing a thesis-based approach to investing in technology and healthcare companies. The team prefers to invest at the turning point when companies need expertise to help them significantly increase the growth of their business. The Scale team has consistently focused on identifying companies that take innovative approaches to addressing market opportunities in sectors such as consumer electronics, software-as-a-service, and healthcare companies that are repurposing already approved drugs. "The name, Scale Venture Partners, makes sense for two reasons," said Kate Mitchell. "One, we work to identify large market opportunities that are just at the inflection point, which is the best way to make significant returns. Our deal selection is driven by our thesis-based approach to picking markets. Second, we work hard to help our companies scale to meet that opportunity. We're hands on investors thinking every day about how to apply our industry knowledge to our investments to help them reach their potential," concluded Mitchell. 2006 Exits and Investments 2006 was an active year for the team with 8 exits and 29 financings totaling more than $90 million. Successful IPOs included Somaxon (NASDAQ: SOMX) and Omniture (NASDAQ: OMTR), and acquisitions included Outer Bay (acquired by Hewlett Packard), Good Technology (acquired by Motorola), Entone (acquired by Harmonic) and US HealthWorks (sold to a buyout consortium). In addition, Glu Mobile and Orexigen each filed S-1 documents in December 2006 for upcoming IPOs. New financings included:
2007 Scale Venture Partners Team The Managing Directors, all formerly with BA Venture Partners, continue investing together as Scale Venture Partners. This team has worked together for an average of nine years. They include Lou Bock, Mark Brooks, Jim Jones, Kate Mitchell, Rory O'Driscoll and Sharon Wienbar. The firm announced significant additions to its team during 2006, hiring Chad Kinzelberg as a Director, Jeff Calcagno as a Principal and Kaufmann Fellow, and Ben Fu and Nancy Lynch as Associates. Andy Vitus was promoted to Principal. Eric Sigler, a Director, Rob Herb, a Venture Partner, and Stacy Curry Bishop, a Principal, complete the Scale Venture Partners investing team. About Scale Venture Partners Scale Venture Partners employs a thesis-based strategy to identify innovative development-stage technology and healthcare investments in emerging markets. Based in Foster City, California, the Scale team collectively offers decades of technology and venture industry experience to development-stage companies in hardware, software, healthcare and medical devices. Representative portfolio companies include Alimera, Frontbridge (acq: MSFT), Glu Mobile, Good Technology (acq: MOT), Monolithic Power Systems (NASDAQ: MPWR), Omniture (NASDAQ: OMTR), Orexigen, Placeware (acq: MSFT), Scansafe, Seattle Genetics (NASDAQ: SGEN), Somaxon (NASDAQ: SOMX), Wayport and Xceive. For more information, visit www.scalevp.com
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