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| Mark Cree Joins El Dorado Ventures and Vesbridge Partners |
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| November 18, 2004 | Press Release |
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Ex-NuSpeed CEO And Cisco Executive Will Seek New Investment Opportunities
In Enterprise Networking, Web Services and Security
Menlo Park, CA, and Westborough, MA (November 18, 2004) – El Dorado Ventures and Vesbridge Partners, LLC, today announced that Mark Cree has joined both firms as an Entrepreneur-in-Residence (EIR), focusing on investment opportunities in the enterprise networking, web services and security markets. At Vesbridge, Cree also serves as venture partner.
Previously, Cree served as co-founder, Chairman and CEO of NuSpeed Internet Systems, a storage area networking company. El Dorado Ventures provided initial funding to NuSpeed, along with Crescendo Ventures. NuSpeed was acquired in 2000 by Cisco Systems. After NuSpeed’s acquisition by Cisco, Cree served as general manager of Cisco’s Storage Router Business Unit.
In his role as an EIR with Vesbridge and El Dorado, Cree will help both firms identify and support new investments in fast-growing IT markets such as enterprise networking, web services and security markets.
“Mark brings deep operational and entrepreneurial experience to Vesbridge Partners and El Dorado, with an unmatched level of technical expertise and understanding of the storage and networking markets,” said Jeff Hinck, Senior Managing Director of Vesbridge Partners, who was formerly a General Partner with Crescendo Ventures. “Mark will be a critical part of our team as we identify and fund promising companies in these markets.”
Charles Beeler, General Partner at El Dorado Ventures, added: “Mark did a great job at NuSpeed and we’re pleased to have the opportunity to work with him again. We’re looking forward to teaming up once again with both Mark and Vesbridge Partners in seeking new investment opportunities.”
“There are a number of emerging opportunities for innovative storage, web services and security applications and technologies and I look forward to working with the teams at Vesbridge and El Dorado to turn this opportunities into viable businesses,” said Cree. “The deep operational and market experience of both teams will be invaluable as we build companies to address these opportunities from inception to market acceptance.”
Prior to NuSpeed/Cisco, Cree was Vice President of Marketing at terabit-router-developer NEO Networks. Cree also served as the Director of Marketing at Switched Network Technologies and successfully brought one of the first IP routers to market at networking pioneer Network Systems Corporation (NSC) in the early 1990’s. Cree started his career as a software developer at Control Data Corporation. Cree holds an MBA from the University of St. Thomas and a BS in Business and Information Systems from the University of Minnesota.
About El Dorado Ventures
Founded in 1986, El Dorado Ventures (EDV) is a leading early-stage venture capital firm that invests across the technology sector and focuses primarily on semiconductors and systems, communications, software and services. El Dorado has an 18-year track record of successful early-stage technology investing, including early investments in Cyras Systems, EarthLink, Efficient Networks, Novellus and NuSpeed Internet Systems. Numerous EDV portfolio companies have gone public or been acquired by major technology companies, including Ciena, Cisco Systems, nVidia, Siemens, Texas Instruments and Yahoo/Inktomi. Entrepreneurs see EDV as a trusted investment partner who shares their vision. The firm helps entrepreneurs succeed by providing them with strategic guidance and access to a wealth of industry contacts. For more information, please visit www.eldorado.com.
About Vesbridge Partners
Vesbridge Partners thrives on helping early-stage, leading-edge networking and IT infrastructure companies bring their software and service platforms to enterprise and carrier markets. Vesbridge Partners, headquartered in Boston, Mass., has a long history as part of St. Paul Venture Capital (SPVC), a well established early-stage venture capital firm with a strong track record over the past 15 years of helping finance some of the industry’s most successful technology companies. Additional information can be found at the firm's website at www.vesbridge.com.
Note to Editors: Vesbridge and Vesbridge Partners are trademarks of Vesbridge Partners LLC. All other trademarks are the property of their respective owners.
Media Contacts:
For El Dorado Ventures:
Jon Greer510-547-7123
jon@themediabridge.com
For Vesbridge Partners:
Richard M. Williams
919-523-0621
rmwilliams@vesbridge.com
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