2008 1st Half Newsletter www.chrysalisventures.com
 
In this issue:


New Developments • John Willmoth Named Venture Partner • Wes Cobb Joins as Analyst • Chrysalis Associate Matt Winn Launches Venture Capital Database
Portfolio Company Financings and Other Developments • afterBOT Wins Industry Award for "Best Third Party Technology Provider" • ConnectivHealth Receives $1.25 Million Financing to Expand Product Offerings • Digitalsmiths Recognized for "Technology of the Year" by CED • Intechra Receives IDC's Green IT Recycling Certification • U.S. Army Enterprise Selects Mobile Armor to Protect Sensitive Data • SinglePipe Secures $2 Million to Fund Cable Customer Acquisition Plans • TechSkills Funds Title IV Expansion with $1.5 Million Financing
Other News • Chrysalis Opens Michigan Office • Upcoming Conferences and Events
 
 

New Developments

John Willmoth Named Venture Partner

In August 2008 Chrysalis named John Willmoth a Venture Partner. John came to us after 20 years of business development, strategic planning, and finance experience in the telecommunications sector, most recently as Vice President, Business Development of Sprint Nextel Corporation. As a member of Nextel's senior management team since 1989, John was instrumental in leading the company through intensive growth via a series of mergers and acquisitions. 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.

John had previously joined Chrysalis as Executive-in-Residence in September 2007. In his new role he evaluates investment opportunities, assists portfolio companies in the media and communications sector, and serves on the boards of directors for select Chrysalis investments.

"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."

Please click here to view the complete press release.

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Wes Cobb Joins as Analyst

In July 2008, Wes Cobb joined Chrysalis as an Analyst to provide support to the investment team for Chrysalis' three primary investment sectors: healthcare services and technology, media and communications, and business services.

Prior to Chrysalis, Wes worked for the Enterprise Corp, the division of Greater Louisville Inc. dedicated to developing fast-growth companies in the Louisville area. At the Enterprise Corp, Wes launched and managed the Enterprise Angels, Louisville's first organized group of active angel investors. A Louisville native, Wes earned a BA cum laude in Classics from Davidson College in May 2007.

Please join us in welcoming Wes to the Chrysalis team.

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Chrysalis Associate Matt Winn Launches Venture Capital Database

In August 2008, Chrysalis Associate Matt Winn launched the Venture Capital Database (VCDB), an online search tool and database focused on the venture capital industry, through his blog Punctuative.com. This useful, innovative database contains information on 500 venture capital firms with over 800 locations and nearly 7,000 professionals. VCDB allows users to search venture capital firms by location, investment professionals' alma mater, and other useful criteria that commercially available resources somehow missed, and links seamlessly to firms' websites, bios, and blogs. VCDB has quickly proven to be a valuable tool for entrepreneurs and VCs alike. Click here to read a recent review.

Matt has been blogging, twittering, and relentlessly pulling new media tools into his professional practice. His individual insights defined the need the VCDB fills, but the product itself was outsourced, developed with both offshore and domestic assistance while he slept (or worked!) and is maintained by the community it serves.

We are proud of Matt's creative contribution to the field of venture capital, and delighted to sponsor such a useful tool.

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Portfolio Company Financings and Other Developments

afterBOT Wins Industry Award for "Best Third Party Technology Provider"

In June 2008, afterBOT, a provider of software and services to retailers which enable them to share real-time point-of-sale transaction information with suppliers and consumers, won industry recognition as this year's "Best Third Party Service Provider" at the Voluntary Interindustry Commerce Solutions Association's (VICS) Collaborative Commerce Achievement Awards. The award honored afterBOT's industry leadership and excellence in developing and implementing business applications that significantly improve supply chain practices, partnerships, and performance.

Chrysalis Managing Director Koleman Karleski serves on the company's board of directors.

Please click here to view the complete press release.

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ConnectivHealth Receives $1.25 Million Financing to Expand Product Offerings

In May 2008, Nashville-based ConnectivHealth, a healthcare publishing and information business, received $1.25 million in financing to expand its product offerings and establish new distribution channels. The company offers a suite of products to hospitals, school systems, and doctors, and is now diversifying its business beyond a historical focus on pharmaceutical sponsorship.

Chrysalis led the financing with co-investors Petra Capital Partners and the company's President and CEO Scott McQuigg. Chrysalis Managing Director Koleman Karleski serves on the company's board of directors.

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Digitalsmiths Recognized for "Technology of the Year" by CED

In June 2008, Digitalsmiths Corporation, a digital video search and contextual ad-matching company, was awarded the "2008 Technology of the Year" prize by the North Carolina's Council for Entrepreneurial Development (CED) at CED's 22nd annual Entrepreneurial Excellence Awards.

Digitalsmiths' technology empowers online advertisers and publishers to capitalize on the ongoing growth in broadband video, rich Internet applications, and mobile and social media. The company was recognized by CED for its pioneering contributions to online video content, advertising, and publishing.

Chrysalis Principal Wright Steenrod serves on the company's board of directors.

Please click here to view the complete press release.

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Intechra Receives IDC's Green IT Recycling Certification

In July 2008, Jackson, Mississippi-based Intechra, the nation's largest independent information technology asset disposition (ITAD) company, was one of only five companies to achieve IDC's first certification in Green IT Recycling and Asset Disposal for the Enterprise (G.R.A.D.E.). IDC is the premier global provider of market intelligence, advisory services, and events for the information technology markets. Dell, HP, IBM, and Redemtech were the other companies recognized.

Chrysalis Managing Director David Jones, Jr. serves on the company's board of directors.

Please click here to view the complete press release.

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U.S. Army Enterprise Selects Mobile Armor to Protect Sensitive Data

In April 2008, St. Louis-based Mobile Armor, Inc., a provider of electronic data and asset protection software and services, was selected by the U.S. Army Enterprise as a sole-source supplier to provide data-at-rest solutions and services. Mobile Armor will protect data on desktops, laptops, smart phones, PDAs and removable media storage devices. The U.S. Army Enterprise includes the Active Army, Army Reserve, Army National Guard, Civilian Work Force, Army Contactor support, and joint organizations where the Army is the Executive Agent.

Chrysalis Managing Director Bob Saunders serves on the company's board of directors.

Please click here to view the complete press release.

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SinglePipe Secures $2 Million to Fund Cable Customer Acquisition Plans

In April 2008, Lexington, KY-based SinglePipe Communications, Inc., a facilities-based wholesale communications provider, raised an additional $2.0 million in equity funding to support its aggressive entry into the rapidly expanding VoIP market. Chrysalis led the financing with Meritus Ventures, L.P., a Rural Business Investment Company (RBIC), participating as a co-investor.

SinglePipe provides residential and business digital phone services through wholesale and agent channels, focusing on cable providers, to clients across the United States with points of presence throughout the Southeast.

Chrysalis Principal Wright Steenrod serves on the company's board of directors.

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TechSkills Funds Title IV Expansion with $1.5 Million Financing

In June 2008, Austin-based TechSkills, a provider of post-secondary education and training, received an additional $1.5 million in financing. The company received approval earlier this year for three of its campuses to participate in the Department of Education's Title IV federal financing program, with plans for its remaining campuses to roll-out Title IV financing over the next two years.

Chrysalis Managing Director Bob Saunders serves on TechSkills' board of directors.

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Other News

Chrysalis Opens Michigan Office

In May 2008, Chrysalis announced the opening of its latest office in Ann Arbor, Michigan. This office represents Chrysalis' fourth location in Middle America, including our headquarters in Louisville, Kentucky and other offices in Cleveland, Ohio and Pittsburgh, Pennsylvania.

In February 2008, with the closing of our fourth fund at $163 million, Chrysalis welcomed the Venture Michigan Fund as a new limited partner. Michigan investments from prior funds include Ann Arbor-based HealthMedia, Inc. and Detroit-founded Asterand, plc.

Chrysalis Ventures is located at 130 South First Street, Ann Arbor, Michigan, 48104. Chrysalis investment professionals can be reached at (734) 864-0237.

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Upcoming Conferences and Events

Please look for Chrysalis team members at the following conferences and events that we are pleased to sponsor this fall:

IdeaFestival (September 25 - 27, 2008)
Venture Atlanta (October 15 - 16, 2008)

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Contact Us

Chrysalis Ventures
101 South Fifth Street
Suite 1650
Louisville, KY 40202-3122

Phone: (502) 583-7644
Fax: (502) 583-7648
Web site : www.chrysalisventures.com
E-Mail: info@chrysalisventures.com

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