InterWest Press Releases
Stephen Holmes of InterWest Appointed to National Venture Capital
Association Board
Menlo Park, CA - May 13, 2008 - InterWest Partners, a leading diversified venture capital firm, today announced that Stephen Holmes, general partner and CFO, has been elected to the National Venture Capital Association (NVCA) Board of Directors. The NVCA is the country's leading venture capital association.
Holmes, an expert on venture capital valuation and reporting, was nominated by the board's Executive Committee. He will serve a four-year term, which commenced on May 8, 2008.
"Stephen's appointment to the NVCA board is a testament to his deep understanding of the legislative, public policy and reporting dynamics of the venture capital industry," said Dr. Arnold L. Oronsky, general partner at InterWest. "He has been at the forefront of InterWest's efforts to be a leader in the venture capital community - particularly in the area of financial reporting to limited partners. We congratulate Stephen on his appointment to the NVCA Board."
Earlier this year, Holmes was appointed to the International Private Equity Valuation (IPEV) Board. He was also one of the principal authors of the Private Equity Industry Guidelines Group (PEIGG) guidelines and is a member of FASB's (Financial Accounting Standards Board) Small Business Advisory Committee, serving on behalf of the NVCA and as a representative of the venture capital community. Holmes is also a founding member of the NVCA's CFO Task Force.
At InterWest, Holmes is the administrative general partner and CFO, managing all of InterWest's financial, administrative, fundraising and investor relations functions. As such, Holmes is actively involved with the community of limited partners. Prior to joining InterWest in 1989, Stephen was vice president, finance and administration, of the highly successful venture-backed international manufacturer, Specialty Brands, a $140 million specialty foods company headquartered in San Francisco.
About InterWest Partners
InterWest Partners (www.interwest.com), founded in 1979, is a leading diversified venture capital firm focused on building long-term relationships with entrepreneurs and portfolio companies. Currently investing its tenth fund, InterWest X, a $650 million fund, InterWest has raised more than $2.8 billion of capital since inception. InterWest has a total of 13 partners and general partners in Menlo Park, CA and Dallas, TX, who bring together deep domain knowledge in life sciences and information technology.
The firm's past successful investments in life sciences include: ArthroCare (ARTC), Aspreva Pharmaceuticals (ASPV, acquired by Galenica group, SWX: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, NYSE:EYE), 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).
The firm's past successful investments in information technology include: CIENA (CIEN), Copper Mountain Networks (CMTN), Crystal Semiconductor (acquired by Cirrus Logic, CRUS), Cyrix (CYRX; acquired by National Semiconductor (NSM), Lightera (acquired by CIENA), PlaceWare (acquired by Microsoft, MSFT), SiTera (acquired by Vitesse, VTSS), Silicon Graphics (SGI), Stratacom (STRM; acquired by Cisco, CSCO) and Xilinx (XLNX).
