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Ventures West Assembles Dream Team of Accomplished Technology Entrepreneurs To Form Canada’s Largest Entrepreneur in Residence ProgramProgram boasts largest assembled group of high-profile Canadian technology entrepreneurs hired to help manage and advise early-stage technology companies backed by Ventures West Vancouver, BC, December 11, 2001, - Ventures West today announced that it has attracted three new high-profile technology executives to its Entreprenuers In Residence (EIR) program making it the largest team of its kind formed by a Canadian Venture Capital Firm. High-profile executives joining the program include John Seminerio, former President and CEO of Abatis System Corporation which was acquired by Redback Networks (NASDAQ:RBAK) for over $1 billion; Wilson Lee, former CFO of FloNetwork Inc. which was acquired by DoubleClick Inc. (NASDAQ:DCLK); and Bob Campbell, founder of the telecommunications group at Mobile Data Solutions Inc. (MDSI). The three executives join Barry Guld, founder of Zadall Systems and Richard Timmons, founder of SAGUS Security and DOMUS Software Ltd., to create Canada’s largest Entrepreneur in Residence Program for a Venture Capital Firm. An Entrepreneur in Residence is a person who has an outstanding track record either as an executive or as a technologist and who joins Ventures West as an interim step to his next venture. The EIR program is designed to provide experienced entrepreneurs seeking their next business venture with the network, resources and tools to identify emerging market segments and business opportunities. Entrepreneurs in the program become part of the Ventures West team and gain access to its operations and deal flow. While in the program, EIRs provide specialized management council to existing investee companies while finding new investee companies to join or to form. ”Now is the perfect time to be aggressive in the Canadian technology marketplace,” says Robin Louis, President, Ventures West. “Our investment portfolio continues to grow and our track record is attracting the very best serial entrepreneurs from the Canadian technology sector. We intend to match capital resources and management experience with the exciting opportunities available today to create new companies that will make their mark on the world stage.” Ventures West has over 30 years experience as a privately held venture capital management group with funds that total over $400 Million and investment experience that spans 150 companies. Investments for the first three quarters of 2001 have totaled $48.3 million and include Convedia Corporation, Quadrus Financial Technologies Inc., Interomex Biopharmaceuticals Inc., Serveron Corporation, Greenlight Power Technologies Inc., Plazmic Inc., Atmos Corporation, INEA Corporation, Xenon Genetics Inc., Caprion Pharmaceuticals Inc.
About Ventures West Ventures West is a privately held venture capital management group that invests in young technology companies across Canada from offices in Vancouver, Toronto and Ottawa. It is one of Canada’s preeminent technology investment organizations with experience that spans over 120 technology companies. Ventures West’s investment focus is on companies in the information technology, telecom, biotechnology, and power technology sectors. Examples of portfolio companies are Angiotech Pharmaceuticals Inc., Burntsand Inc., Caprion Pharmaceuticals Inc., Convedia Corporation, Novatel Wireless Inc., Pivotal Corporation, and QuestAir Technologies.
For more information contact: Andrew Bowins, |
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