Millennium Technology Ventures Adds to Investment Team and Announces Recent Portfolio Company Achievements
7/2/07
• Dan Borok promoted to Vice President
• Tellme acquired by Microsoft
• Aventail to be acquired by SonicWALL
New York, July 2, 2007—The Millennium Technology Ventures family of private equity funds announced today the addition of Noah Yago to the firm’s investment team as Vice President, as well as the promotion of Dan Borok to Vice President. The firm also announced its participation in several recent successful realizations, including the sales of Tellme Networks to Microsoft and Aventail to SonicWALL, bringing to seven the number of realizations the Millennium funds have achieved since 2006.
Sam Schwerin, Managing Partner, observed, “The continuous growth and development of our investment team is critical to our unique and ever-evolving investment strategy. What we do at Millennium is both creative and intellectually labor intensive, as we seek to combine the best of traditional venture capital and growth-oriented investment ideas with rigorous analysis, a focus on structured risk mitigation, and a disciplined investment process more typical of the largest private equity funds.”
About Dan Borok
Dan Borok joined Millennium in 2005 and was recently promoted to Vice President. At Millennium he specializes in internet advertising, marketing businesses and other types of new media business models. Previously, Dan was a Business Analyst at Google, where he worked with senior management on multiple new product initiatives, including the launch of Google Adsense. Dan was also part of the core team responsible for implementing the financial reporting and revenue projection infrastructure.
Prior to Google, Dan was an Operations Analyst in the media division at DoubleClick, a leading provider of digital advertising technology and services. At DoubleClick he functioned as an internal consultant for the DoubleClick Advertising Network, focusing on business development and sales partnerships. Dan began his professional career in the digital advertising group at J. Walter Thompson in New York.
Dan Borok received a Master of Business Administration from Columbia Business School with honors and a Bachelor of Arts from the University of Vermont.
Recent Realizations at Millennium
Tellme Networks, the world’s leading voice search company, recently completed its sale to Microsoft (Nasdaq: MSFT) for approximately $800 million. Millennium became a significant investor in Tellme Networks through a large number of liquidity-oriented secondary transactions.
Aventail, another Millennium portfolio company, recently announced its sale to SonicWALL (Nasdaq: SNWL). Millennium built a large interest in Aventail through a primary venture capital investment, as well as the purchase of multiple secondary positions in liquidity-oriented transactions involving the Exodus bankruptcy and other former Aventail investors.
About the Millennium Funds
Millennium is a family of private equity funds that targets investments in promising growth stage companies using venture capital, value investing, and buyout formats. Millennium is also a leader in direct secondary investing, providing liquidity for venture capital and private equity investments held by founders, senior management and institutional investors. To date, the funds have completed more than 200 transactions.
The Millennium funds hold positions acquired through both secondary transactions as well as primary venture capital investments in a wide variety of innovative and market-leading companies including: Airvana, Applied Minds, Arcsight, Axsun, Connexus, edgeio, Global Options (OTC: GOPG), Hands-On Mobile, ID Analytics, Internap (Nasdaq: INAP), Metaweb, Multiplex, OpenPeak, Questia, Wayport, Wild Tangent and World Wide Packets, among others.
Recently, Millennium’s Managing Partners, Dan Burstein and Sam Schwerin, authored a white paper for a DowJones/Private Equity Analyst publication on the future of the secondary market for venture capital assets. Interested parties may obtain a copy by e-mailing: info@MTVLP.com
For further information, contact:
Sam Schwerin, Managing Partner, Millennium Technology Ventures
646.521.7800
schwerin@mtvlp.com