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Fidelity Ventures Increases Fund Size; Names Roger Hurwitz as Partner Firm to Expand Focus on "Go-to-Market" Stage Investments March 13, 2007 Fidelity Ventures today announced that it has increased the size of Fidelity Ventures IV, L.P. from $250 million to $400 million, and named Roger Hurwitz as a Partner. The larger fund, combined with the addition of Hurwitz will help fuel the firm’s focus on companies at the go-to-market stage, including an increased emphasis on growth equity investments. "We have always taken a theme-based approach to identifying investment opportunities in companies at the go-to-market stage," said Rob Ketterson, Managing Partner for Fidelity Ventures. "While evaluating emerging companies ready for market introductions, we have also uncovered growth equity stage companies that fit this investment focus. "By combining our existing expertise with a larger fund and Roger’s impressive investment track record, we have the resources in place to partner with the most promising entrepreneurs to accelerate their go-to-market strategy -- whether at the company’s initial market entrance or the next phase of growth," continued Ketterson. By increasing the fund to $400 million, Fidelity Ventures has expanded its ability to capitalize on growth equity deals by investing up to $50 million in a company, while maintaining its focus on emerging companies that may require $5-20 million of investment. Fidelity Ventures has been exploring investment opportunities with a growth equity profile for over a year. During this period, the firm made two significant investments -- eCredit and Teliris. In December, Fidelity Ventures announced its acquisition of eCredit, a provider of online solutions for commercial and credit lending, leading an investment to provide shareholder liquidity and making an $11 million growth capital infusion. In February, Fidelity Ventures led a $40 million majority investment in Teliris, the leading provider of telepresence solutions. "Fidelity Ventures’ theme-based approach provides a unique perspective on the technology landscape that naturally identifies potential category leaders at various stages -- all ready for acceleration into the market," said Hurwitz. "I look forward to working with the team to build on their existing success in venture capital and growth equity investments." Prior to joining Fidelity Ventures, Hurwitz was a Partner with Apax Partners L.P., where he focused primarily on enterprise software and technology-enabled services. Hurwitz helped to successfully build Apax’s U.S. growth equity investment presence in IT, having served on the Boards for such leading companies as RealPage, Intralinks and PlanView. Prior to Apax, Hurwitz was Vice President at GE Equity, where he played a key role in developing the technology group’s investment strategy for business-to-business electronic commerce. Hurwitz earned his B.S. degree from Syracuse University and an MBA from The Wharton School at the University of Pennsylvania, where he was a Palmer Scholar. About Fidelity Ventures Fidelity Ventures invests in technology companies at the "Go-To-Market" stage. Its 40-year track record includes hundreds of successful investments in the consumer, communications, systems and software markets. Fidelity Ventures is distinguished by the ability to accelerate market adoption for its portfolio companies’ offerings, and by a global network of senior technology and business executives. Fidelity Ventures actively manages over $800 million from offices in Boston and London. Sister fund Fidelity Asia Ventures manages over $220 million from Shanghai and Hong Kong. For more information, visit www.fidelityventures.com.	Download Press Release

Fidelity Ventures Increases Fund Size; Names Roger Hurwitz as Partner

Firm to Expand Focus on "Go-to-Market" Stage Investments

March 13, 2007

Fidelity Ventures today announced that it has increased the size of Fidelity Ventures IV, L.P. from $250 million to $400 million, and named Roger Hurwitz as a Partner. The larger fund, combined with the addition of Hurwitz will help fuel the firm’s focus on companies at the go-to-market stage, including an increased emphasis on growth equity investments.

"We have always taken a theme-based approach to identifying investment opportunities in companies at the go-to-market stage," said Rob Ketterson, Managing Partner for Fidelity Ventures. "While evaluating emerging companies ready for market introductions, we have also uncovered growth equity stage companies that fit this investment focus.

"By combining our existing expertise with a larger fund and Roger’s impressive investment track record, we have the resources in place to partner with the most promising entrepreneurs to accelerate their go-to-market strategy -- whether at the company’s initial market entrance or the next phase of growth," continued Ketterson.

By increasing the fund to $400 million, Fidelity Ventures has expanded its ability to capitalize on growth equity deals by investing up to $50 million in a company, while maintaining its focus on emerging companies that may require $5-20 million of investment.

Fidelity Ventures has been exploring investment opportunities with a growth equity profile for over a year. During this period, the firm made two significant investments -- eCredit and Teliris. In December, Fidelity Ventures announced its acquisition of eCredit, a provider of online solutions for commercial and credit lending, leading an investment to provide shareholder liquidity and making an $11 million growth capital infusion. In February, Fidelity Ventures led a $40 million majority investment in Teliris, the leading provider of telepresence solutions.

"Fidelity Ventures’ theme-based approach provides a unique perspective on the technology landscape that naturally identifies potential category leaders at various stages -- all ready for acceleration into the market," said Hurwitz. "I look forward to working with the team to build on their existing success in venture capital and growth equity investments."

Prior to joining Fidelity Ventures, Hurwitz was a Partner with Apax Partners L.P., where he focused primarily on enterprise software and technology-enabled services. Hurwitz helped to successfully build Apax’s U.S. growth equity investment presence in IT, having served on the Boards for such leading companies as RealPage, Intralinks and PlanView. Prior to Apax, Hurwitz was Vice President at GE Equity, where he played a key role in developing the technology group’s investment strategy for business-to-business electronic commerce.

Hurwitz earned his B.S. degree from Syracuse University and an MBA from The Wharton School at the University of Pennsylvania, where he was a Palmer Scholar.

About Fidelity Ventures

Fidelity Ventures invests in technology companies at the "Go-To-Market" stage. Its 40-year track record includes hundreds of successful investments in the consumer, communications, systems and software markets. Fidelity Ventures is distinguished by the ability to accelerate market adoption for its portfolio companies’ offerings, and by a global network of senior technology and business executives. Fidelity Ventures actively manages over $800 million from offices in Boston and London. Sister fund Fidelity Asia Ventures manages over $220 million from Shanghai and Hong Kong. For more information, visit www.fidelityventures.com.

Download Press Release