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Grotech Promotes Pair

Grotech Capital Group has promoted Charles Cullen and Stephen Frederick to general partner. Cullen joined the firm in 2000 as a vice president, and in June 2006 assumed the responsibilities of CFO. Frederick joined as a vice president in 2005, and focuses on IT and communications sector opportunities. 

PRESS RELEASE

Grotech Capital Group, one of the longest-established firms in the venture industry, has promoted Charles P. Cullen and Stephen M. Fredrick to General Partner.

Cullen joined Grotech as a Vice President in 2000, working on a wide range of investments. In July of 2006, he also assumed responsibilities as the firm's Chief Financial Officer. He is principally responsible for all financial, accounting, and administrative functions for the Grotech funds, and also works on selected investments within the portfolio.

Fredrick, who joined Grotech as a Vice President in 2005, focuses on investment opportunities in the information technology and communications sectors. Most recently, he was instrumental in Grotech's investments in Omnilink Systems and Rollstream, Inc. Prior to joining Grotech, Steve invested in early-stage software and communications companies in the region.

Managing Partner Frank Adams said, We are very pleased to make this announcement. Chuck and Steve have strong backgrounds for their roles and have proven themselves with significant contributions to our portfolio companies and the firm over the years.

About Grotech Capital Group (www.grotech.com)

Founded in 1984, Grotech Capital Group is one of the country's leading venture capital firms with a 24-year track record of helping to build successful companies. Led by an experienced team of professionals, Grotech seeks investments in communications technology, enterprise software, internet and digital media where the combination of its financial backing, domain expertise, industry relationships, and operating experience will accelerate growth. The partnership manages $1 billion in committed capital from offices in Maryland and Virginia. To learn more about Grotech, please visit www.grotech.com.