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Sacramento Investors and Entrepreneurs Launch Velocity Venture Capital, the First Venture Fund to Invest Exclusively in Capital Region Technology Start-Ups
[January 04, 2006]

Sacramento Investors and Entrepreneurs Launch Velocity Venture Capital, the First Venture Fund to Invest Exclusively in Capital Region Technology Start-Ups

SACRAMENTO, Calif. --(Business Wire)-- Jan. 4, 2006 -- A group of local investors and technology industry executives announced today that they have launched Velocity Venture Capital, a new seed and early stage venture fund.

Velocity Venture Capital, which is anticipated to be a $20 million dollar fund, is the first to focus exclusively on emerging technology companies headquartered in the greater Sacramento region. Velocity is managed by experienced investment professionals who have teamed with local technology executives and seasoned entrepreneurs.

Velocity Venture Capital will concentrate on seed and early stage technology companies with investments ranging from $250,000 to $1 million, primarily in investor syndicates with local angels and US-based venture funds. Over the life of the fund, Velocity plans to invest in 15 to 20 companies with an emphasis on software, communications, and clean technology start-ups.

"The Sacramento region is being recognized nationally as a growing hub for technology entrepreneurs with all the ingredients required for success -- except for sufficient capital," said Jack Crawford Jr., General Partner of Velocity Venture Capital. "Our firm is addressing the capital needs of local entrepreneurs to help them launch and grow companies headquartered in the greater Sacramento area."

Velocity's fund managers have the real-world expertise of building companies from the ground up. Members of the fund management team have been investors, board members, or managers in more than 25 local early stage technology companies. The team has historically invested in or worked with some of the most promising companies in the region, including Level One Communications (acquired by Intel), Atone Software (acquired by CoreLogic), KeyEye Communications, WebRaiser Technologies, and emTRAiN.

The fund management team is led by:

-- Jack Crawford Jr., General Partner -- Local venture capitalist, Co-founder of Capital Valley Ventures, where he continues in his Venture Partner role; Former Board/CEO role at Atone Software; Founder of four local technology companies; and SARTA Board member;

-- Monty Montgomery, Chief Financial Officer -- Former CFO at Capital Valley Ventures and Techfarm Ventures, an early-stage venture capital firm and incubator with over $250 million under management;

-- John Kehoe, Venture Partner, Semiconductor -- Local angel investor and former CFO at Level One Communications.

-- Gillian Parrillo, Venture Partner, Software -- Local angel investor, former Sterling Software executive (acquired by Computer Associates (NYSE:CA)); Chairman of Sacramento Entrepreneurship Academy; and Board member of the Sacramento Angels;

-- Don Redmond, Venture Partner, Networking -- Local angel investor, former executive and early employee at Cisco Systems (IPO on NASDAQ:CSCO).

-- Leland Smith, Venture Partner, Internet -- Former executive at Babcock & Brown, IBM, Sega, Infoseek (IPO on NASDAQ, acquired by Disney (NYSE:DIS) and (IPO on NASDAQ, acquired by iVillage Inc. (NASDAQ:IVIL);

-- Dale Hanson, Chairman of Advisory Board -- Former CEO of CalPERS, the largest state pension fund in the US.

-- Larry Kurmel, Advisor -- Former CEO of CalSTRS; former Executive Director of the California Bankers Association.

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