FOR IMMEDIATE RELEASE
SCALE VENTURE PARTNERS PROMOTES STACEY CURRY BISHOP TO MANAGING DIRECTOR AS FIRM SHIFTS FULL FOCUS TO TECHNOLOGY INVESTING
Foster City, Calif – November 8, 2011 – Scale Venture Partners (ScaleVP) today announced the promotion of Stacey Curry Bishop to Managing Director, as the firm shifts its full focus to technology investing. The firm will not make additional healthcare investments in ScaleVP Fund III, which ScaleVP began investing in May 2009. Managing Directors Lou Bock and Mark Brooks, who have led the firm’s healthcare investing since 2000, will remain with ScaleVP to support their portfolio companies and maximize return to investors.
“Our investing team has been closely monitoring the regulatory environment in the healthcare field and has experienced the challenges of investing under this regulatory uncertainty,” said Kate Mitchell, Managing Director with ScaleVP. “Despite our belief in the innovation and demand for healthcare solutions, and our profitable investments such as Seattle Genetics, Cellective Therapeutics, IPC The Hospitalist Company and National Healing among others, we have decided that the current outlook is too uncertain and the capital requirements have become too high for a fund with our mid-stage investing strategy to continue building a healthcare portfolio. Our LPs have been very supportive of our decision to focus all future investing in the technology areas where we have also established a strong and profitable track record, such as Software as a Service (SaaS), Cloud, Mobile and Internet.”
As ScaleVP ceases its healthcare investing, it builds on its strong position in technology investing with the promotion of Partner Stacey Curry Bishop to Managing Director. For more thoughts from Kate on Stacey’s promotion and healthcare investing, please see Kate’s post at: www.scalevp.com/blog.
“Stacey is a critical member of our investing team; she has led and worked with some of the firm’s strongest technology investments, including Vitrue, ExactTarget, Omniture and Tripwire,” said Rory O’Driscoll, Managing Director with ScaleVP. “Stacey, who joined ScaleVP as an Associate, will continue to lead more SaaS and Internet deals as we invest Fund III.”
Stacey joined ScaleVP in 1999 and focuses on SaaS and Internet investments. In February, Stacey led the firm’s investment in the SaaS social marketing management company Vitrue, and joined the company’s board. She also originated investments in Omniture, acquired by Adobe for $1.8 billion in 2009, and ExactTarget. Stacey also is an NComputing board member.
In recognition of their work driving sector research projects and supporting the investment team, the firm also promoted Osman Ahmed and Rishi Taparia from Analysts to Associates.
Scale Venture Partners
Based in Foster City, California, the ScaleVP team invests in technology companies across the United States with a focus on SaaS, Cloud, Mobile and Internet sectors. With operating backgrounds and investment experience in these sectors, the ScaleVP team helps its high-growth portfolio companies achieve scale. Representative investments include Box.net, BrightRoll, Docusign, Everyday Health, ExactTarget, Hubspot, IPC The Hospitalist Company, mBlox, National Healing, NComputing, Omniture, ScanSafe, and Seattle Genetics. ScaleVP has a consistent, top quartile track record of returns with over $1 billion under management. It is currently investing Scale Venture Partners III, a $255 million fund. For more information, visit www.scalevp.com
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