New Roles at Valhalla Partners Build Strength in Digital Media, eCommerce

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Kiran Hebbar promoted to General Partner; Gene Riechers transitions out of active role

Kiran's strong background in digital video, ecommerce, online advertising, and consumer Internet has been vital to Valhalla

Valhalla Partners today announced the promotion of Kiran Hebbar to General Partner, and the transition of co-founder Gene Riechers to a Senior Advisor role at the firm.

"We are very pleased to recognize Kiran's hard work and his contributions to Valhalla's success," said Valhalla co-founder and Managing General Partner Art Marks. "His strong background in digital video, ecommerce, online advertising, and consumer Internet has been vital to Valhalla's work in these areas, and he has been the leading champion of our early stage seed investment program, which we see as vital to our success and the success of technology innovation in the mid-Atlantic."

Hebbar serves on seven Valhalla portfolio company boards: Geomagic, Fishbowl Marketing, Legolas Media, and four seed companies - Shop Socially, Clipik, StatSheet and Spot, Valhalla's newest investment in consumer Internet, which closed earlier this week.

"I'm particularly pleased with our progress on seed investing," commented Hebbar. "In the first three months of 2011 we've made 5 investments and a sixth which will close soon. Of these 3 are new seed investments and one is a seed 'graduation' to a Series A round."

“In order to remain relevant to the innovation ecosystem, venture capitalists need to make smaller, earlier bets on big potential markets,” added Hebbar. “Modern technology-enabled businesses do not require huge sums of capital to start up. Their management teams are nimble; they can evolve at the same pace as their rapidly-evolving markets. And they need investors who are as nimble as they are.”

Hebbar is a graduate of India's prestigious Indian Institute of Technology, and has graduate degrees in Mechanical Engineering (from University of Maryland) and Business (from the Wharton School). He lives with his wife Namitha and two children in Vienna, VA, and is an avid fan of cricket, understandably gratified by India's come-from-behind win of the World Cup.

In another significant change, Valhalla noted that Gene Riechers has decided to step back from his role as a General Partner of Valhalla and will transition to a Senior Advisor at Valhalla.

"Gene will be working in a new and supportive, but less active role, at Valhalla," said Marks. He will continue to source deals and provide experienced advice to our partners, and we will continue to benefit from his experience and knowledge. While Gene’s investing acumen will be missed, we are pleased that Kiran and other young investing professionals are rising to the occasion, and we are actively seeking other investing staff additions in coming months."

About Valhalla Partners
Valhalla Partners is a trusted partner and advisor to technology entrepreneurs in their quest to build world-class companies. Based in Vienna, Virginia, the firm’s management team has made more than 120 investments over the past twenty years and produced almost $1 billion of investment proceeds. Valhalla prefers investments where the mission of the company is to innovate, challenge and fundamentally change the dynamics of new and existing markets. Investments by Valhalla’s team include,, Clarify, EnterpriseDB, Epicor, Exchange Solutions, JumpTap, LeftHand Networks, Mobius, NextLink, Nirvanix, Progress Software, Proxicom, RealOps,, Riverbed Technologies, SafeNet, SEPATON, ServiceBench, TidalTV, Trilogy, and webMethods. Valhalla Partners brings the full power and network of its experienced team to every investment it makes, helping companies grow faster and smarter regardless of size or maturity.
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For more information, press only:
Dan Gordon, 703-448-1400, dan(at)valhallapartners(dot)com


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