VENCAP INTERNATIONAL PLC NAMES TIM CRUTTENDEN AS DIRECTOR, FUND INVESTMENTS

Tim Cruttenden has been named as Director, Fund Investments for VenCap International plc, an international private equity advisor. Funds advised by VenCap Intenational plc invest in venture capital funds in the United States and venture capital and buy-out funds in Europe.

Oxford, UK and San Francisco, CA

VenCap International plc, the international private equity advisory firm, has promoted Tim Cruttenden to Director, Fund Investments. Mr. Cruttenden, based in Oxford, leads VenCaps fund of fund investment team.

Tims promotion recognises his important contribution to VenCap over the nine years he has been with the firm," said Michael Ashall, founder and Chairman of VenCap International. Tims knowledge of the international private equity industry, the strength of his relationships with private equity firms in the US and Europe, the respect he has earned from investors and his investment track record have all contributed to this important decision."

Robert Carr of Sofinnova Venture Partners said: We were delighted to hear of Tim's promotion. We greatly value our relationship with VenCap. Tim and his team are thorough, knowledgeable and have a deep understanding of the industry dynamics."

Tims leadership and effective management of the fund investment team have been impressive," added Bob Baird, a Director of VenCap and formerly the Investment Manager for The Wellcome Trust.

Mr. Cruttenden joined VenCap in 1994 from the Association of British Insurers, where he was an economist and statistician. Since then, he has been directly involved with the investment of over $900 million in 138 funds in the United States and Europe. He also serves on a number of advisory boards of venture capital funds.

ABOUT VENCAP INTERNATIONAL PLC
VenCap International plc is an independent investment advisory and management company with approximately US$1 billion under management. VenCap manages nine private equity funds-of-funds and separate client accounts. VenCaps funds-of-funds invest in US venture capital funds and European venture capital and mid-market buy-out funds. Founded in 1987, VenCap is headquartered in Oxford, UK and has an office in San Francisco, CA. VenCap International plc is authorised and regulated by the Financial Services Authority. For more information, visit www.vencapintl.com.

FOR FURTHER INFORMATION, CONTACT:

In the United Kingdom:

Ms. Kerri Holdstock
VenCap International plc
King Charles House
Park End Street
Oxford, England
0X1 1JD
Tel: +44 (0)1865 799 300
email: info@vencapintl.com

In the United States:

Allen Latta
Director, Business Development
VenCap International, Inc.
160 Sansome Street, 17th Floor
San Francisco, CA 94104
Tel: (415) 394-7600
email: info@vencapintl.com

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