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FOR IMMEDIATE RELEASE

For More Information Contact:

Dipti Pratt
Entrepreneurs Foundation
408-616-4273
dpratt@efbayarea.org

Emily Mendell
National Venture Capital Association
610-359-9609
emendell@nvca.org

Entrepreneurs Foundation and the National Venture Capital Association Announce Partnership to Promote Corporate Philanthrophy

Sunnyvale, CA and Washington DC, June 9, 2005 - The Entrepreneurs Foundation (EF) and the National Venture Capital Association (NVCA) today announced a partnership to promote corporate citizenship at venture capital firms and the emerging companies that they support around the country.    Together the organizations will work to engage pre-public companies in philanthropic efforts through equity grants and community involvement.   Both the EF and the NVCA embrace the concept that winning companies do not only provide strong returns to shareholders but also share their successes with their communities and employees.  

“We believe companies that integrate incorporate corporate citizenship and philanthropic programs into the fabric of the corporate culture have enhanced public reputations, stronger employee teams, higher employee morale, and gain the respect of the global communities in which they operate.” said Diane Solinger, Executive Director of Entrepreneurs Foundation in Silicon Valley.   “We’re excited about a partnership with the NVCA and look forward to working more closely with the organization”.

Over 400 companies have joined the Entrepreneurs Foundation since the organization’s inception in 1998.   There are currently 8 affiliates of EF with locations in Atlanta, Austin, Boston, Dallas, Honolulu, Portland, Silicon Valley and Tel Aviv.   Pre-public companies join EF by making an equity grant to the Foundation.    EF then works closely with each portfolio company to develop and implement community benefit programs most appropriate for its particular stage of development.   Successful community involvement programs have included: employee volunteerism, employee giving, corporate giving and corporate citizenship best practices.   When a liquidity event occurs, proceeds of the equity grant are available for charitable distribution as advised by the portfolio company.

Because most companies that join Entrepreneurs Foundation (EF) are venture funded, many NVCA members are already supporting the work of EF through their firms and portfolio companies.  The partnership seeks to further raise awareness of the program and increase participation among NVCA members.

“In support of our industry’s dedication to growth and innovation, the NVCA encourages and proactively engages in philanthropic programs that support the values of our member firms and their portfolio companies,” said Joe Aragona, NVCA Chairman and General Partner at Austin Ventures. “We have a unique opportunity to build better communities around the country through the work that we do.   In addition to job and revenue creation, strong corporate social responsibility is one of the most important economic development outcomes of venture investing.”

Mark Heesen, NVCA President added: “We view a partnership with Entrepreneurs Foundation to be in alignment with our values at the NVCA.   The venture capital community and the enterprises funded through the venture model are uniquely poised to create significant community value.   Working with EF is another extension of our ongoing efforts to support philanthropy throughout the US venture industry.”

About the Entrepreneurs Foundation

Entrepreneurs Foundation (EF) engages high growth companies in corporate citizenship and philanthropic efforts so that new and leveraged resources are generated for community benefit.   EF works with emerging companies to develop a culture of community support and outreach. Recognizing the time and resource constraints typical of young companies, EF assists companies with the implementation of community involvement activities, matching their corporate culture and philanthropic interests with the many opportunities in the local community.  For more information about EF, please visit www.efbayarea.org.

About the NVCA

The National Venture Capital Association(NVCA) represents approximately 470 venture capital and private equity firms. NVCA's mission is to foster greater understanding of the importance of venture capital to the U.S. economy, and support entrepreneurial activity and innovation. According to a 2004 Global Insight study, venture-backed companies accounted for 10.1 million jobs and $1.8 trillion in revenue in the United States in 2003. The NVCA represents the public policy interests of the venture capital community, strives to maintain high professional standards, provides reliable industry data, sponsors professional development, and facilitates interaction among its members. For more information about the NVCA, please visit www.nvca.org.

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