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FOR IMMEDIATE RELEASE
Contact: Bob Saunders
Managing Director
Chrysalis Ventures
502-583-7644

CHRYSALIS VENTURES NAMES NEW ASSOCIATES

LOUISVILLE, KY (August 14, 2002) - Chrysalis Ventures, Kentucky’s largest venture capital firm and a leading source of equity capital for young growth companies in the Southeast and Midwest, has recruited two new associates: Suzanne Bergmeister and Jason Mahoney.

Ms. Bergmeister joins Chrysalis with significant prior regional venture capital experience. She previously worked for Blue Chip Venture Company in Cincinnati as an associate specializing in technology investments. Prior to Blue Chip, she worked at Cincinnati’s Fort Washington Investment Advisors where she helped launch their $240 million Fort Washington Capital Partners Fund-of-Funds.

Ms. Bergmeister also served in the US Air Force from 1984 - 1989 as a flight test engineer on the B-2 Stealth Bomber, testing all avionic systems including communications, synthetic aperture radar and navigation. She is currently a Lieutenant Colonel in the Air Force Reserves and serves as an instructor at the Air Force’s Test Pilot School. Ms. Bergmeister holds a BS in Electrical Engineering from Rutgers University, an MS in Electrical Engineering from California State University and an MBA from Cornell University’s Johnson Graduate School of Management. She is a member of the Institute of Electrical and Electronics Engineers (IEEE).

Mr. Mahoney joins Chrysalis from Safeguard Scientifics’ affiliated PA Early Stage Fund in Philadelphia. At PA Early Stage, he focused on seed-stage and early-stage investments across a broad range of industries including software, IT services, optical networking, wireless infrastructure and financial services. Prior to PA Early Stage, Mr. Mahoney co-founded OMB & Company, a consulting firm providing investment advisory services and corporate strategy for private equity funds. Prior to that, Mr. Mahoney worked for the LEK Consulting Group, an international consulting firm specializing in merger, acquisition and corporate advisory services. Mr. Mahoney holds a BBA with High Distinction from the University of Michigan and an MBA from the University of Pennsylvania’s Wharton School.

Both Ms. Bergmeister and Mr. Mahoney will work primarily on investments for Chrysalis’ recently closed fourth venture fund. The $143 million fund will invest in both early-stage companies and in later stage companies seeking follow-on venture financing.

Chrysalis’ new fund will invest in approximately 25 companies in the Southeast and Midwest over the next four years. Initial investments will typically range from $1.5 to $2.5 million per company, with follow-on financing available to fund growth. The fund is managed by Chrysalis’ three managing directors: David Jones, Jr., Bob Saunders and Irv Bailey.

About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is Kentucky's largest venture capital firm and a leading source of equity capital for young growth companies in the Southeast and Midwest. Chrysalis invests primarily in early-stage companies in the business services, information technology, media and entertainment, telecommunications, financial services and healthcare sectors.

For more information, please visit www.chrysalisventures.com.



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