SEC Appoints InterWest's Stephen Holmes to New Advisory Post
SEC Appoints InterWest's Stephen Holmes to New Advisory Post May 2012
SEC Appoints InterWest's Stephen Holmes to New Advisory Post
Menlo Park, CA — May 4, 2012 — The Securities and Exchange Commission has appointed InterWest's General Partner and COO Stephen Holmes to its newly-formed Investor Advisory Committee. This 21-member, permanent committee was formed to advise the SEC on regulatory priorities and initiatives to protect investor interests and the market's integrity. Mandated by the Dodd-Frank Act, the committee was appointed by all five SEC commissioners and represents a wide variety of stakeholders, including individual investors, institutional investors, academia, mutual funds, private equity, and state securities regulators. "I am honored to be selected for this important new committee and I believe we can significantly help the SEC commissioners fulfill their investor protection mission," Holmes remarked. "The perspective of the venture capital industry is very important because it plays such a vital role in the growth of the U.S. economy and the creation of jobs."
About Stephen Holmes
Holmes has been a general partner at InterWest for over 20 years. From 2008-2012, Holmes was a director of the National Venture Capital Association (NVCA). He is a member of the International Private Equity and Venture Capital Valuation Guidelines Board (IPEV), and a founding member of both the Financial Accounting Standards Board's (FASB) Small Business Advisory Committee and the Private Equity Industry Guidelines Group (PEIGG). Holmes is a graduate of Lehigh University (summa cum laude, Phi Beta Kappa) and the Harvard Business School (with distinction). Prior to his business career, Holmes served as an officer in the U.S. Navy, where he volunteered for a tour of duty in Da Nang, Vietnam.
About InterWest Partners
InterWest Partners is a leading, diversified venture capital firm headquartered in Menlo Park, CA. Formed in 1979, InterWest has raised $2.8 billion and invested in nearly 400 early-stage information technology and life sciences companies. As the firm invests InterWest X, a $650M fund, the InterWest team continues to believe that providing capital is just the beginning of a long-term collaboration with entrepreneurs to turn their vision into a thriving company.
The firm's past successful investments in information technology include: CIENA (CIEN), Copper Mountain Networks (CMTN), Crystal Semiconductor (acquired by Cirrus Logic, CRUS), CubeTree (acquired by SuccessFactors, SFSF), Cyrix (CYRX; acquired by National Semiconductor, NSM), Edify (EDFY; acquired by Security First Technologies, SONE), Epocrates (EPOC), Kalpana (acquired by Cisco, CSCO), Lightera (acquired by CIENA), Lombardi Software (acquired by IBM), Network Computing Devices (NCDI), Open Silicon (acquired by Unicorn Investment Bank), PlaceWare (acquired by Microsoft, MSFT), Platform Solutions (acquired by IBM), Radius, Rendition (acquired by Micron Technology, MU), Sierra Logic (acquired by Emulex, ELX), SiTera (acquired by Vitesse, VTSS), Silicon Graphics (SGI), Stratacom (STRM; acquired by Cisco, CSCO) and Xilinx (XLNX).
The firm's past successful investments in life sciences include: AkaRx (acquired by Eisai), ArthroCare (ARTC), Aspreva Pharmaceuticals (ASPV; acquired by Galenica group, GALN), Cor Therapeutics (CORR; acquired by Millennium Pharmaceuticals, MLNM), Corixa Pharmaceuticals (CRXA; acquired by GlaxoSmithKline, GSK), Coulter Pharmaceuticals (CLTR; acquired by Corixa Pharmaceuticals, CRXA), Cubist Pharmaceuticals (CBST), Epicor Medical (acquired by St. Jude Medical, STJ), Inspire Pharmaceuticals (ISPH), IntraLase (ILSE; acquired by Advanced Medical Optics, EYE), LenSx Lasers (acquired by Alcon, ACL), Myogen (MYOG; acquired by Gilead, GILD), NovaCardia (acquired by Merck, MRK), Spinal Dynamics (acquired by Medtronic, MDT), TheraSense (THER; acquired by Abbott Labs, ABT) and Ventritex (VNTX; acquired by St. Jude Medical, STJ).
About Venture Capital's Important Contribution to the U.S. Economy and Job Creation
Venture capital firms have helped build entire industry sectors by funding groundbreaking innovation, adding jobs and substantial economic growth in the U.S. From biotechnology to information technology to clean technology, over 23,000 startups have been brought to life by support from venture capital firms, contributing to the country's strong competitive position in the global market. A few examples of the prominent U.S. companies that were started with venture capital support are: Amazon, Amgen, Apple, Boston Scientific, Cisco, Costco, eBay, Facebook, FedEx, Genzyme, Google, Home Depot, Intel, MedImmune, Medtronic, Microsoft, Skype, Staples, Starbucks, Tesla, and Zynga.
About the Investor Advisory Committee
The members of the newly-formed Investor Advisory Committee are:
Darcy Bradbury, Managing Director and Director of External Affairs, D.E. Shaw & Co., L.P.
J. Robert Brown, Jr., Law Professor, University of Denver
Joseph Dear, Chief Investment Officer, California Public Employees' Retirement System
Eugene Duffy, Senior Executive Vice President, Paradigm Asset Management Co. LLC
Roger Ganser, Chairman of the Board of Directors of BetterInvesting
James Glassman, Executive Director, George W. Bush Institute
Craig Goettsch, Director of Investor Education and Consumer Outreach, Iowa Insurance Division
Joseph Grundfest, William A. Franke Professor of Law and Business, Stanford Law School
Mellody Hobson, President and Director of Ariel Investments, LLC
Stephen Holmes, General Partner and Chief Operating Officer, InterWest Partners
Adam Kanzer, Managing Director and General Counsel of Domini Social Investments and Chief Legal Officer of the Domini Funds
Roy Katzovicz, Partner, Investment Team Member and Chief Legal Officer, Pershing Square Capital Management, L.P.
Barbara Roper, Director of Investor Protection, Consumer Federation of America
Kurt Schacht, Managing Director, CFA Institute
Alan Schnitzer, Vice Chairman and Chief Legal Officer, The Travelers Companies, Inc.
Jean Setzfand, Director of Financial Security for the AARP
Anne Sheehan, Director of Corporate Governance, California State Teachers' Retirement System
Damon Silvers, Associate General Counsel for the AFL-CIO
Mark Tresnowski, Managing Director and General Counsel, Madison Dearborn Partners, LLC
Steven Wallman, Founder and Chief Executive Officer, Foliofn, Inc.
Ann Yerger, Executive Director, Council of Institutional Investors