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March 28, 2005

Dr. Ashish Gupta Joins Woodside Fund as Venture Partner to Concentrate on Global Opportunities

Renowned Entrepreneur, Investor, and Technologist Joins Silicon Valley Venture Capital Firm

March 28, 2005, Redwood Shores, CA: Woodside Fund, an early-stage venture capital firm, today announced that Dr. Ashish Gupta has joined the Redwood Shores-based firm as venture partner and will focus on developing global investment opportunities for Woodside Fund. Gupta started his association with Woodside Fund through the Kauffman Fellows program in July of 2002. His responsibilities as a venture partner will be to identify and manage investment opportunities with compelling business models, primarily in the software, Internet and services sectors. Prior to joining Woodside Fund, he was a founder and active investor in several information technology companies. He co-founded Junglee, a data integration software company acquired by Amazon.com; and Tavant Technologies, a provider of channel collaboration software. His investments include Daksh, a business process outsourcing services acquired by IBM; and Bodha, a web-services integration solution company acquired by Peregrine.
“Ashish has an impressive track record as an entrepreneur, investor, and technologist,” said Daniel Ahn, a Managing Director at Woodside Fund. “He is extremely well respected in the entrepreneur and venture capital community, and brings to Woodside Fund extensive global operational experience and the proven ability to establish, grow, lead and exit early-stage ventures. On behalf of all of us at Woodside, we are honored to have him as part of our team and have a tremendous respect for his investment acumen and his ability to build and add value to long-term relationships.”

“Over the years, I’ve been fortunate to work with exceptional venture capitalists in Silicon Valley and beyond,” said Dr. Ashish Gupta. “When it became time for me to consider joining a venture capital firm, I selected Woodside Fund because I was impressed with the investment team’s entrepreneurial backgrounds and experience, their proven investment philosophies, and their commitment to their portfolio companies. I’m excited about the opportunity to help Woodside Fund’s existing and future portfolio companies take advantage of global prospects.”

Entrepreneur Background:
Gupta co-founded Junglee Corporation, a data integration software company and an early pioneer of the web services business model which was acquired by Amazon.com for $230 million in 1998. He managed engineering and helped grow the company from 5 to 70 people. He also co-founded Tavant Technologies, a profitable and leading provider of channel collaboration software that has grown to 1000 people with multiple Fortune 500 customers. Gupta also served in senior technical positions at Oracle Corporation and IBM.

Investor Background:
As an investor, Gupta has invested in early-stage technology firms such as Daksh, a business process outsourcing services company acquired by IBM for $160 million in 2004; Bodha, a web-services integration solutions company acquired by Peregrine; Obongo, a unified login company acquired by AOL; and Pointcross, a business process interaction management solution company.

Technologist Background:
As a technologist, Ashish holds seven patents with other experts in the field including: Amazon.com founder Jeff Bezos; Anand Rajaraman, partner at Cambrian Ventures; and V. Harinarayan, co-founder of Junglee Corporation. As an author, Gupta has written and presented numerous papers at international conferences, including a book published by MIT Press titled MATERIALIZED VIEWS: A Collection of Papers on the Theory, Implementation and Applications of Materialized Views.

Board Affiliations and Education:
Gupta currently serves on the board of VeriWave, a provider of performance analysis tools for wireless local area network (WLAN) devices and networks. His education includes a Ph.D. in computer science from Stanford University and a B.S. in computer science from the Indian Institute of Technology at Kanpur, where he was awarded the President's Gold Medal, the highest national undergraduate honor.

Dr. Ashish Gupta will join the 6 partners at Woodside Fund – Vincent Occhipinti, Robert Larson, Daniel Ahn, John Occhipinti, Thomas Shields, and Rick Shriner – who each bring unique technology, entrepreneurial, operational, and investment experience to the team.

About Woodside Fund
Woodside Fund is a leading venture capital firm that excels in developing early-stage technology companies. Founded in 1983, Woodside Fund attributes its long record of success to the high value it places on building productive partnerships with entrepreneurs, other investors and service providers. Typically a lead investor, Woodside Fund invests from $5 million to $10 million in early-stage software, fabless semiconductor and network infrastructure companies located primarily on the West Coast. Woodside Fund has more than $330 million in capital under active management. For more information, go to www.woodsidefund.com.

Press contact:

Carole Sinclair




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