Holtron Ventures Appoints Timo Tirkkonen as Investment Director and Partner

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Holtron Ventures Ltd. today announced the appointment of Mr. Timo Tirkkonen as Investment Director and Partner. Mr. Tirkkonen is an experienced early-stage technology investor who has worked with Finnish ICT and software companies since 1997.

Mr. Tirkkonen brings to Holtron his considerable expertise of board-level management at software and IT companies. He is currently Chairman of the Boards of QPR Software (Plc), Cidercone (Ltd) and Fastrax (Ltd), as well as a member of the Board of Livränteanstalten Hereditas. Mr. Tirkkonen will also join the Boards of Holtron portfolio companies Canter and FRWD Technologies.

From 1999 to 2000, Mr. Tirkkonen was the managing director of QPR Software Sweden and responsible of the company’s business operations in Europe. Previously, he has held business development positions at Telecom Finland and Nokia Networks.

“We are delighted to welcome Timo to our investment team. Timo has exceptionally broad experience in the development of early-stage technology ventures. His approach to venture development is characterised by active involvement and a strong entrepreneurial spirit, which are the cornerstones of successful investments," said Sami Lampinen, Managing Director, Holtron Ventures.

"A widespread concern in the technology industry in Finland is that there is not enough early-stage capital investment to support the growth of promising new companies. Holtron is one of the few truly active players in this arena, and I look forward to helping the company develop the ventures that will help create the next revolutions in applied technology," said Timo Tirkkonen, appointed as Investment Director and Partner, Holtron Ventures.

Founded in 1999, Holtron Ventures manages three venture capital funds. Holtron's portfolio companies include MySQL, Oplayo, Bluegiga, Canter, Upstream Engineering, Pancomp Electronics, Panipol, FRWD Technologies and Navicore.

Further information:

Sami Lampinen

Managing Director, Partner

tel. +358 40 520 5295

sami.lampinen@holtronventures.com

Timo Tirkkonen

Investment Director, Partner

tel. +358 40 575 1553

timo.tirkkonen@holtronventures.com

About Holtron Ventures

Holtron Ventures Ltd. is a privately held, independent venture capital management company concentrating on early-stage investments within the ICT sector in Scandinavia and Finland. The company's mission is to act as a value-added investor and to coach entrepreneurs through the various stages of a company's development. http://www.holtronventures.com

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Christina Forsgard
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