LOUISVILLE, KY (August 19, 2008) – Chrysalis Ventures today announced that John Willmoth, a former senior business development executive with Nextel Communications, Inc., has been named a Venture Partner. Mr. Willmoth previously joined Chrysalis as Executive-in-Residence in September, 2007. In his new role, Mr. Willmoth will evaluate investment opportunities and assist current portfolio companies in the media and communications sector, and serve on the board of directors for select Chrysalis investments.
Mr. Willmoth has over 20 years of business development, strategic planning, and financial experience, most recently as Vice President, Business Development of Sprint Nextel Corporation. As a member of Nextel’s senior management team since 1989, Mr. Willmoth was instrumental in leading the company through an intensive growth phase via a series of mergers and acquisitions and was responsible for completing several significant new business transactions, including the formation of Nextel Partners, Inc. In recent years, he managed Nextel’s private equity investments and led negotiations with technology, infrastructure, and device partners for the company’s planned rollout of Wimax technology. Mr. Willmoth has a BA from Amherst College and an MBA from the University of Chicago.
“Chrysalis is committed to building on its strong track record of partnering with innovative companies that provide enabling technologies and services within the media and communications sector,” said David Jones, Jr., Chairman and Managing Director of Chrysalis. “The ongoing trend toward greater mobility for voice, data, and video services is a dominant theme in this sector and John brings a wealth of industry knowledge and experience to our team. We are delighted to have him join us.”
About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Midwest and South. Chrysalis invests primarily in early-stage and expansion-stage companies in healthcare services and technology, media and communications, and business services. Based in Louisville, Kentucky, Chrysalis has $375 million under management and has made investments in over 55 companies. For more information, please visit www.chrysalisventures.com.