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					NATIONAL VENTURE CAPITAL ASSOCIATION HONORS INDUSTRY LEADERS FOR LIFETIME ACHIEVEMENT, OUTSTANDING CONTRIBUTION AND PUBLIC SERVICE Paul Wythes of Sutter Hill Ventures, Kathleen Behrens of RS Investments and Peter Wendell of Sierra Ventures Honored May 1, 2003 – New York - The National Venture Capital Association (NVCA) honored three outstanding individuals from the venture capital community today during a ceremony at its 2003 Annual Conference in New York City. More than 600 venture capitalists were on hand to congratulate the recipients of the coveted awards, The Lifetime Achievement Award, Outstanding Service Award and American Spirit Award. The awards, which are bestowed annually by the NVCA Board of Directors, recognize members who have set a consistent standard of excellence for the industry in a variety of ways. Mr. Paul M. Wythes of Sutter Hill Ventures, was honored with the Lifetime Achievement in Venture Capital Award. Established in 1998, the award recognizes venture professionals who, through a lifetime of dedicated service, have played an instrumental role in the growth of the venture capital industry and the success of entrepreneurial companies. During his 39 years in venture capital, Mr. Wythes has counseled hundreds of young start up companies and entrepreneurs. He has served on more than 27 boards and led Sutter Hill investments in innovative companies such as Tellabs, Xidex, Linear Technology and AmeriGroup. Dr. Kathleen Behrens of RS Investments received the NVCA Outstanding Service Award. This award highlights the extraordinary commitment of an NVCA member who has helped engage the industry in public policy discourse and raised the visibility of the VC community's contribution to the U.S. economy. In 1999, Dr. Behrens provided extraordinary leadership during her tenure as NVCA Chairman while the Association successfully navigated through a change in professional management, effectively positioning the NVCA for future growth. Mr. Peter Wendell, General Partner of Sierra Ventures, received the American Spirit Award honoring an NVCA member for applying their business skills to make an outstanding contribution to society. For more than a decade Mr. Wendell has taught a highly popular course at Stanford Business School where he has now educated more than 700 MBA’s, helping train the next generation of America’s entrepreneurs and venture capitalists. At Princeton he chairs the Board of Princeton University Investment Company, with oversight of Princeton’s $8 billion endowment, one of the nation’s top performing pools of capital. In addition to the three awards, NVCA paid a special tribute to Richard Testa, founding partner of Testa, Hurwitz & Thibeault, who passed away on December 3, 2002. Mr. Testa was largely responsible for building one of the first law firms that specialized in serving high technology companies and venture capital firms. He worked with many members of the venture capital industry during his 40-plus year career and was highly respected throughout the venture community.

“The individuals we honored today set the standard not only for venture capitalists but for business people and community leaders as well,” said Mark Heesen, President of the National Venture Capital Association. “The NVCA applauds this year’s winners, who epitomize the concepts of dedication and service.” The National Venture Capital Association (NVCA) represents 470 venture capital and private equity organizations. NVCA's mission is to foster the understanding of the importance of venture capital to the vitality of the U.S. and global economies, to stimulate the flow of equity capital to emerging growth companies by representing the public policy interests of the venture capital and private equity communities at all levels of government, to maintain high professional standards, facilitate networking opportunities and to provide research data and professional development for its members. More information about the NVCA can be found at www.nvca.org. ###


				
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