Foundation Capital's Paul Holland Named WAVC President

MENLO PARK, CA -- July 9, 2007 -- Foundation Capital, a venture capital firm committed to early stage company building, today announced that general partner, Paul Holland, has been named president of the Western Association of Venture Capitalists (WAVC). Holland brings nearly two decades of early stage start-up experience to the position. Currently in his sixth year with Foundation, Holland joined as a venture partner in 2001, having previously taken two venture-funded software start-ups, Kana Communications (KANA) and Pure Software (RATL), public; ensuring revenue growth in excess of $100M. Founded in 1969 as the world's first non-profit venture capital organization, the WAVC is made up of over 130 venture firms and some 800 venture capitalists.

"The success of the WAVC relies on creative minds dedicated to supporting the industry's leading entrepreneurs," said Tom Dyal, board member, WAVC. "Paul's decades of experience cultivating start-ups is an incredible asset to our organization. In his new role as president, we look forward to Paul's leadership as he continues to put Silicon Valley innovation on the map, laying the foundation for tomorrow's entrepreneurs."

Prior to his time with Foundation Capital, Paul was senior vice president of worldwide sales at Kana Communications, where he built a team of over 350 people that secured more than 900 customers worldwide, helping Kana become one of the top ten initial public offerings (IPOs) of 1999. Previously, Paul served as vice president and general manager for Pure Software, helping raise their market value from $2 million to over $1 billion in his five year tenure with the company.

"This is an exciting time in venture capital with some of the world's most intelligent minds turning their attention towards solutions that help not only business, but the world," commented Holland. "In becoming president of the WAVC, I am honored to work with an organization that truly recognizes this influx of innovation, helping to cultivate the passionate entrepreneurs who are shaping the future of technology."

Holland currently works closely with a number of Foundation's portfolio companies including cleantech building materials supplier, Serious Materials, Bella Pictures, Codefast, Conformia, Edge Dynamics, Ketera, TuVox, Mendocino Software, and Simply Hired. Holland holds an MBA from University of California at Berkeley, an MA in Foreign Affairs from the University of Virginia and a BS from James Madison University.

In his role as WAVC president, Paul will ensure the 45 year old organization continues to provide West Coast venture capitalists with a forum to network, socialize and share their insights in addition to bringing together some of the country's most influential business, political, and academic leaders through the group's distinguished speaker series.

About Foundation Capital
Founded in 1995, Foundation Capital is a venture capital firm committed to supporting entrepreneurs and their companies, targeting innovative opportunities in cleantech, consumer Internet and infrastructure; telecommunications and networking; and enterprise software and on demand services. Foundation Capital funds total more than $1.7 billion. For more information, visit www.foundationcapital.com or contact Kim Milosevich at (415) 392-8282, kim@outcastpr.com.

 

About WAVC

For more than 40 years, WAVC (www.wavc.org) has offered West Coast venture capitalists a chance to come together to network, socialize, and share insights. WAVC's distinguished speaker series has hosted some of the country's most legendary business, political and academic leaders. The group's distinguished history also includes annual sporting events as well as community outreach and industry advocacy. Today, WAVC is made up of over 130 venture firms and some 800 venture capitalists.