Former Intel Senior Executive Brings Industry Expertise in Networking, Communications
SAN FRANCISCO, May 7, 2002 - Granite Ventures, LLC, a leading early-stage technology venture capital firm, announced today that Len Rand has joined the firm as managing director. Mr. Rand will focus on investment opportunities in the communications and software industries.
Mr. Rand has extensive technical and operational experience with both large and small technology companies. He joins Granite Ventures after serving as general manager of strategic marketing and global alliances at Intel Corp.
"We are delighted to welcome Len to the firm," said Standish O'Grady, senior managing director of Granite Ventures (www.granitevc.com). "He brings tremendous expertise in a number of strategic market areas for Granite Ventures. In addition, Len has had extensive business management experience, including the formation of several highly successful technology companies."
Prior to joining Intel, Mr. Rand was CEO and founder of NetBoost Corp., a developer of network processor silicon and subsystems as well as software development systems. NetBoost, which was funded by Granite Ventures, was acquired by Intel in 1999.
He also founded Internet Middleware, Inc., an Internet proxy caching company which was acquired by Network Appliance, Inc. in 1997; was CEO of two other start-ups which were acquired by Fortune 500 companies; and served as a vice president and general manager at Intergraph Corp. and Autodesk.
He holds a B.S. degree in building sciences, a B.S. degree in engineering, an architecture degree and an M.S. degree in structural engineering from the Rensselaer Polytechnic Institute.
About Granite Ventures
Granite Ventures, LLC, formerly H&Q Venture Associates, LLC, is a leading early-stage technology venture capital firm with approximately $650 million in capital under management. Granite Ventures was formed in July 1998 as an independent venture capital firm spun out of Hambrecht & Quist, now J.P. Morgan H&Q. Granite Ventures manages general venture capital funds and corporate funds in partnerships with technology industry leaders Adobe Systems Incorporated and Texas Instruments Incorporated. Granite Ventures has invested in more than 70 companies, including such industry leaders as AvantGo (NASDAQ:AVGO), Digimarc (NASDAQ:DMRC), DigitalThink (NASDAQ:DTHK), ESPS (NASDAQ:ESPS) (acquired by ImageX - NASDAQ:IMGX), InfoGear (acquired by Cisco Systems - NASDAQ:CSCO), InterNAP (NASDAQ:INAP), NetBoost (acquired by Intel - NASDAQ:INTC), Nexabit Networks (acquired by Lucent - NYSE:LU), Siebel Systems (NASDAQ:SEBL), Sierra Wireless (NASDAQ:SWIR), SnapTrack (acquired by Qualcomm - NASDAQ:QCOM), Tumbleweed Communications (NASDAQ:TMWD), Vignette (NASDAQ:VIGN) and Virage (NASDAQ:VRGE), among others.
For more information on Granite Ventures, please call 415-591-7700 or visit the firm's Web site at http://www.granitevc.com.
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