Crosspoint Hosts First Vertical Service Provider Roundtable; Top Silicon Valley Venture Capital Firm Fosters Collaboration Among Portfolio Clients As It Architects New VSP Sector.Business Editors/High-Tech Writers WOODSIDE, Calif.--(BUSINESS WIRE)--Dec. 12, 2000 Crosspoint Venture Partners, technology's best-performing early-stage venture capital firm, announces that it has successfully held its first Vertical Service Provider (VSP VSP - Very Simple Prolog+. ) roundtable for the CEOs and CTOs of its 14 portfolio companies and representatives from the investment banking community this week. The 14 companies are cornerstones of the newly emerging VSP market that unites broadband Internet See broadband. connections, vertical applications, relevant content, and trading relationships in a service-based model. The roundtable is part of a series of initiatives that promotes collaboration among Crosspoint's portfolio companies and sets the groundwork for the technology sector's growth. "We have committed $350 million over 24 months to build VSPs because they represent a unique value to the vertical markets they serve, as well as an important advancement in Internet businesses," said Rich Shapero Rich Shapero (1948- ) is an American venture capitalist [1] who moonlights as a musician and novelist. He grew up in Los Angeles and went to college at Berkeley, California.[2] He now works as a venture capitalist with the company Crosspoint. , managing partner, Crosspoint Venture Partners. "There is an incredible demand for vertically focused solutions delivered as services. VSPs bring new efficiencies and cost savings to vertical industries and are good examples of important, sustainable Internet businesses. Our capital investments, along with targeted programs such as this roundtable series, ensure VSPs are working together for stronger individual success and steady growth within the segment." Simultaneous CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. tracks, led respectively by general partners, Rich Shapero and Bob Lisbonne, provided a forum to discuss VSP business models, opportunities and technical issues. Michael Sherrick, Consulting and Application Services See ASP and Web services. senior research analyst from Morgan Stanley Dean Witter, also shared his perspective. Crosspoint's marketing partner Kelli Tejada outlined the firm's VSP marketing initiative designed to create value and awareness for the vertical service provider segment and companies therein. The roundtable is the first in a series of events designed to facilitate collaboration, partnering and joint marketing for companies in the sector. Crosspoint's 14 VSP portfolio companies range in age from two to 24 months old, and include: Aristasoft, Believe, eSilicon and SanRise in the technology industry; DemandTec and ReceiptCity in retail; Dorado and InveSmart in financial services and mortgages; MyAssociation in the association and non-profit industry; NexPrise and RedSpark in manufacturing; Novopoint in the food ingredients industry; Swan Systems in the advertising business; and Vital Link in the restaurant industry. Crosspoint's VSP initiative builds on its previous successes architecting new industry segments and building leadership companies within them, including digital synchronous line (DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ) networking, B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. software, Internet professional services, and Fibre Channel storage area networking. For more detail on VSPs or other Crosspoint-funded companies, visit the Crosspoint website at www.cpvp.com. About Crosspoint Venture Partners Crosspoint Venture Partners, (www.cpvp.com), a leading early-stage venture capital firm, leverages its base of $2 billion to provide the financial means and strategic guidance that enables development and growth of important new enterprises. The firm focuses on two emerging market segments: B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business , including Vertical Service Providers, Enablers and Exchanges as well as the Communications Infrastructure segment. Crosspoint's portfolio has achieved record returns with landmark investments in Ariba, Inc., Avanex Corporation, Brocade Communications Systems Brocade, Inc. NASDAQ: BRCD, based in Silicon Valley, designs, manufactures, and sells storage networking solutions and management applications for storage area networks (SANs) and file area networks (FANs). , Covad Communications, Digital Island, Inc., Efficient Networks, Inc., Foundry Networks, Inc., and Juniper Networks, Inc. Formed in 1970, the company has offices in both Woodside and Irvine, Calif.; and can be reached at 650/851-7600 or partners@cpvp.com. |
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