Moving Away from Healthcare, Scale Promotes Bishop

As it moves away from healthcare investments, Scale Venture Partners has promoted Stacey Curry Bishop to managing director, the firm announced Tuesday. Scale Venture said that it will make no new healthcare investments in ScaleVP Fund III, and will put its full focus toward technology deals. Managing Directors Lou Bock and Mark Brooks, who have led the firm’s healthcare investing since 2000, will remain with ScaleVP to support their portfolio companies. Bishop joined ScaleVP in 1999 and focuses on SaaS and Internet investments.

PRESS RELEASE
Scale Venture Partners (ScaleVP) today announced the promotion of Stacey Curry Bishop to Managing Director, as the firm shifts its full focus to technology investing. The firm will not make additional healthcare investments in ScaleVP Fund III, which ScaleVP began investing in May 2009. Managing Directors Lou Bock and Mark Brooks, who have led the firm’s healthcare investing since 2000, will remain with ScaleVP to support their portfolio companies and maximize return to investors.

“Our investing team has been closely monitoring the regulatory
environment in the healthcare field and has experienced the challenges
of investing under this regulatory uncertainty,” said Kate Mitchell,
Managing Director with ScaleVP. “Despite our belief in the innovation
and demand for healthcare solutions, and our profitable investments
such as Seattle Genetics, Cellective Therapeutics, IPC The Hospitalist
Company and National Healing among others, we have decided that the
current outlook is too uncertain and the capital requirements have
become too high for a fund with our mid-stage investing strategy to
continue building a healthcare portfolio. Our LPs have been very
supportive of our decision to focus all future investing in the
technology areas where we have also established a strong and
profitable track record, such as Software as a Service (SaaS), Cloud,
Mobile and Internet.”

As ScaleVP ceases its healthcare investing, it builds on its strong
position in technology investing with the promotion of Partner Stacey
Curry Bishop to Managing Director. For more thoughts from Kate on
Stacey’s promotion and healthcare investing, please see Kate’s post
at: www.scalevp.com/blog.

“Stacey is a critical member of our investing team; she has led and
worked with some of the firm’s strongest technology investments,
including Vitrue, ExactTarget, Omniture and Tripwire,” said Rory
O’Driscoll, Managing Director with ScaleVP. “Stacey, who joined
ScaleVP as an Associate, will continue to lead more SaaS and Internet
deals as we invest Fund III.”

Stacey joined ScaleVP in 1999 and focuses on SaaS and Internet
investments. In February, Stacey led the firm’s investment in the SaaS
social marketing management company Vitrue, and joined the company’s
board. She also originated investments in Omniture, acquired by Adobe
for $1.8 billion in 2009, and ExactTarget. Stacey also is an
NComputing board member.

In recognition of their work driving sector research projects and
supporting the investment team, the firm also promoted Osman Ahmed and
Rishi Taparia from Analysts to Associates.

Scale Venture Partners
Based in Foster City, California, the ScaleVP team invests in
technology companies across the United States with a focus on SaaS,
Cloud, Mobile and Internet sectors. With operating backgrounds and
investment experience in these sectors, the ScaleVP team helps its
high-growth portfolio companies achieve scale. Representative
investments include Box.net, BrightRoll, DocuSign, Everyday Health,
ExactTarget, HubSpot, IPC The Hospitalist Company, mBlox, National
Healing, NComputing, Omniture, ScanSafe, and Seattle Genetics. ScaleVP
has a consistent, top quartile track record of returns with over $1
billion under management. It is currently investing Scale Venture
Partners III, a $255 million fund. For more information, visit
www.scalevp.com