Mission Ventures Announces $210 Million Venture Capital Fund

SAN DIEGO--(BUSINESS WIRE)--Aug. 2, 2005--Mission Ventures, an early-stage venture capital firm, announced that Mission Ventures III, a $210 million fund, closed on July 25, 2005. Founded in 1997, Mission Ventures manages over $500 million of capital across its three funds.

Mission Ventures III, like its predecessor funds, will invest primarily in early-stage information technology and technology-driven services companies in Southern California. Mission Ventures will continue to leverage its local presence advantage to exploit the exceptionally attractive investment characteristics of the region. The firm will continue to forge and build on constructive, trusting relationships with local high-quality entrepreneurs, investors, service providers and organizations that are able to add value to investment opportunities.

“We are delighted with the strong support from institutional investors in Mission Ventures III”

The managing partners of Mission Ventures III are Ted Alexander, Robert F. Kibble, David J. Ryan, and Leo S. Spiegel. Consistent with the prior fund, the partnership plans to make approximately 25 investments ranging from $3 million to $10 million, with a focus on early-stage opportunities.

"Southern California is fertile ground for investing in leading early-stage Information Technology companies," said Dave Ryan, Managing Partner of Mission Ventures. "We see attractive opportunities across the IT spectrum of communications, wireless, infrastructure, software and technology-driven services."

"We are delighted with the strong support from institutional investors in Mission Ventures III," said Robert Kibble, Managing Partner. "Our portfolio companies compete on a global level, and the value-added international perspective offered by our leading US and European investors will benefit these emerging growth companies."

Investors in Mission Ventures III include leading financial institutions, funds of funds, pension plans, and family investment offices, both domestic and international. Mission Ventures III received significant participation from investors in prior funds.

About Mission Ventures

Mission Ventures helps build successful enterprises in Southern California and creates superior returns on investment for its investors. This is accomplished by investing in the most promising early-stage companies in high growth, emerging markets, and providing significant assistance to those companies as they develop. The partnership brings value-added capital, experience, management talent, and guidance to the most outstanding and innovative ideas and entrepreneurs in the region. Founded in 1997, the firm has made investments in over 40 companies including 3E Company, Digital Island (acquired by Cable & Wireless), DispenseSource, MaxLinear, Shopzilla (acquired by E.W. Scripps Company), TelASIC, Verimatrix, WIDCOMM (acquired by Broadcom Corporation), and Zyray Wireless (acquired by Broadcom Corporation).

Mission Ventures is headquartered in San Diego, CA. For more information on Mission Ventures, visit www.missionventures.com.