Cupertino, Calif. (PRWEB) July 24, 2006
Bay Partners has promoted Eric Chin and Neil Sadaranganey to the position of Partner. Eric and Neil are responsible for Bay's investments in Wallop and Riya. Both joined the firm in 2005 and previously served as Venture Partner and Entrepreneur-in-Residence, respectively. These appointments indicate Eric's and Neil's contributions to Bay Partners and highlight the firm's continued momentum in strengthening its investment team; the firm last week announced the hire of a new investment professional.
Eric Chin focuses on the Internet and software industries. He currently serves on the board of directors of Wallop (a recent Microsoft spinout). His startup experience includes co-founding the Internet server software company WebSpective (acquired by Inktomi), and co-founding TelASIC Communications (a Raytheon spinout). In addition, he was an investor and early business development employee at Mainspring (IPO: MSPR, later acquired by IBM). Eric began his venture capital career in 1993 at Highland Capital Partners. Investments during his career include ProCD (acquired by Acxiom), Mesa (acquired by Microsoft), epylon.com (acquired by Accenture), OpSource and Zyme Solutions. Eric holds a Bachelor of Arts from Dartmouth College and an M.B.A. from Harvard Business School.
Neil Sadaranganey focuses on the software as a service (SaaS) and Internet industries, and sourced several Bay investments including Riya. Neil brings over 12 years of product leadership experience in both small and large technology companies. Prior to joining Bay, Neil led the product management team responsible for GoodLink wireless email at startup Good Technology. Previously, Neil was part of the founding team at Afara WebSystems, a server startup acquired by Sun Microsystems in 2002. At Sun, Neil led the team that defined the company's next-generation volume server roadmap, based on Afara's Niagara chip technology, today called UltraSparc T1. Earlier, Neil managed the enterprise software business for internet streaming media leader RealNetworks where he oversaw several successful product launches. Neil began his career as a technical consultant at Accenture and IBM Global Services where he managed large systems integration teams. Neil holds a Bachelor of Applied Science in Systems Design Engineering from the University of Waterloo and an M.B.A. from the Stanford Graduate School of Business.
"Eric and Neil have consistently set the highest bar for themselves and the firm," said Neal Dempsey, Managing General Partner, Bay Partners. "Through their deals and their interaction with entrepreneurs and other investors, they have demonstrated an understanding of the delicate balance required for making investments: that of conducting thorough due diligence and relying on an innate investor's hunch. Their attitude, zeal and excitement make them natural leaders. We expect great things from them and are confident they will continue to contribute to the firm's success."
About Bay Partners
Bay Partners, a Silicon Valley-based early stage venture capital firm focusing on software, internet, semiconductor and wireless investments, has been building successful technology companies since 1976, funding more than 350 startups. Bay leverages the operating backgrounds of its partners and its extensive network of executives and advisors to help outstanding entrepreneurs create the leaders in new, high-growth market segments.
Notable successes from Bay's portfolio include Brocade, Concord Communications, Exodus, Sonicwall, Placeware, Informatica, Web Logic, Digital Island and NetScaler. Bay is currently investing its eleventh venture fund and has over $1 billion under management. Visit http://www.baypartners.com.
Editors note: Photo available.