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Stephen Holmes of InterWest Appointed to National Venture Capital


Stephen Holmes of InterWest Appointed to National Venture Capital May 2008

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.

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