Richmond, Surrey. 30 November, 2005. Kent Godfrey, who has over 20 years experience of working with successful technology start-ups in the United States has joined Pond Venture Partners as a full partner. Pond Venture Partners is one of Europe's leading early-stage technology venture capitalists with offices in the UK and Silicon Valley.

Kent Godfrey summarised his involvement with Pond by saying: "I have long been intrigued by how much technology there is in Europe yet how little commercial success." When Godfrey met Richard Irving of Pond Ventures ten years ago they discussed this topic and tried to figure out why that was the case, and more importantly what could be done about it. On the basis of this discussion Godfrey joined Pond's advisory board five years ago, becoming a limited partner investor in the Pond II fund.

"I like the hands-on and nurturing approach that Pond has with its portfolio companies and I am excited to have this opportunity, as a full partner, to put my years of experience in the high-technology field into helping evolving companies." continued Godfrey.

Godfrey has worked with six successful high-technology start-ups of which three have gone public (Pyramid, Sequent and IA Corp) and two have been acquired. He has eight years of CEO experience and has sat on the boards of eight different companies. Godfrey has had experience of working in the UK as he was tasked with launching both Pyramid and Sequent into the European markets from London. Godfrey also studied for an MA and an M.S. degree in Economics at the London School of Economics.

"Kent Godfrey brings to Pond significant operating experience with notable strengths in building businesses and leading people," said Charles Irving, managing partner. "The speciality that he brings to the team is in software and systems, and he has been instrumental in shaping Pond's software strategy. Kent has introduced Pond to several potential portfolio companies."

"I am now spending time looking at deals that Pond are currently considering and getting involved with its portfolio companies," added Godfrey. "The future is looking interesting and there are many new areas we are exploring. One that particularly interests me is on what software and on what device will the home user be operating all their media equipment. It is very uncertain at this point but I believe that somebody will emerge as a big success out of that whole area. I think that it will come from a start-up company that just happens to get the user interfaces right, define what the specific uses are and then make it so easy to use. It will then just take off like wildfire."

Pond Ventures is also looking at developments in the fields of IT software, silicon or hardware; materials science; systems; communications; power saving technology; wireless technologies; alternative energy sources with electronic/software aspects. With Pond, Kent has participated in the SealedMedia due diligence and strategy formulation and in all Pond Advisory Board meetings since August 2000.

Kent Godfrey
Kent Godfrey has over 20 years experience in high technology and served with six successful high-technology start-ups of which three have gone public (Pyramid, Sequent and IA Corp) and two have been acquired. He has eight years of CEO experience. He has sat on the boards of eight different companies - seven private, one public. Kent has served on two expatriate assignments in Europe launching both Pyramid and Sequent into the European markets.

Kent was Chairman and CEO of Frictionless Commerce, Inc. of Cambridge, MA from May 2000 to August 2002. During this period, he drove the launching of the company's initial products, establishing Frictionless as the leader in automating the Strategic Sourcing business process. He raised $55 million in venture capital funding for the company from investors and since August 2002 Kent has been Frictionless' Chairman.

Kent served as CEO and a director of Andromedia from its inception in January of 1996 until its $580 million acquisition by Macromedia in December 1999. He successfully drove the acquisition of Likeminds Technology and raised $30 million in funding for the company. Kent served as Chairman of Andromedia's Board from June to December 1999.

From February 1995 to January 1996, Kent was a consultant for Sequent Computer Systems. From September 1993 to February 1995, he was Vice President Marketing/Strategic Planning for IA Corp., a high-end custom solutions provider. In July 1991 he was appointed Vice President of Marketing and Business Development at Epoch Systems, later acquired by EMC. From February 1986 to July of 1991, Kent held various executive management positions at Sequent Computer Systems. From 1983 to 1986 Kent served in various sales, marketing and business development roles at Pyramid Technology.

High-resolution jpeg of Kent Godfrey is available http://www.eml.com/images/pem4459.jpg

About Pond Venture Partners
Pond Ventures is Europe's largest early-stage technology venture capital fund, leading seed and A round investments including silicon, software, hardware, wireless, materials, systems, and the intersection of these areas with energy. Pond works closely with entrepreneurs to build European technology into global companies, making introductions to global customers, building the team, and bringing in quality co-investors. Pond operates as a cohesive team based in London and Silicon Valley with strong connections in Asia. Partners have technology, operating and entrepreneurial backgrounds. Pond was founded in 1997 and has over $200 million under management. Pond is regulated by the FSA.