July 3, 2008

LinkedIn Co-Founder Eric Ly Supports Wellington

PALO ALTO, Calif. and LONDON, July 3 /PRNewswire/ -- The leading pan- European venture capital firm Wellington Partners has strengthened its presence in Silicon Valley with the appointment of Eric Ly as a Venture Partner. Eric, previously LinkedIn's co-founder and founding CTO, is currently founder and CEO of Presdo, a new online scheduling application. While he is driving the growth of Presdo, he will also make time available each month to share his considerable experience and network across the social media market with Wellington's portfolio companies as well as helping Wellington evaluate potential investment opportunities.

"Being a Venture Partner allows me to leverage my entrepreneurial experience and Silicon Valley network to help European entrepreneurs build world-class businesses," said Eric Ly. "I'm delighted to be a part of this successful firm and to join such a high-profile team."

Eric joins Wellington's current nine technology Venture Partners in Europe and the U.S. who include among others Loic Le Meur, CEO of Seesmic, and Ram Sranivasan, former CEO of Fireclick. All these high-calibre entrepreneurs advise and support portfolio companies in their strategic planning, key executive hires and business development activities. Eric will focus on Wellington portfolio companies in the area of Internet services, with particular emphasis on social networking and social media applications, product development, technology scalability and viral marketing strategies.

Wellington's General Partner Eric Archambeau explained: "We are delighted that Eric will support Wellington Partners. He will be an invaluable source of knowledge and exceptionally gifted door-opener for our entrepreneurs. Our portfolio companies will profit tremendously from his network and experience."

About Wellington Partners

Wellington Partners is one the most successful pan-European venture capital firms. With $1.2 billion / euro 800 million under management and offices in London, Munich and Zurich, the firm invests into companies throughout Europe that have the potential to become global leaders, in the areas of Information Technology, Media Convergence, Cleantech and Life Science. Since 1998, Wellington has established a worldwide network to aid its entrepreneurs in building companies on a global scale.

Wellington Partners has invested in more than 100 companies in Europe and Israel, including now publicly traded Actelion, SAF and XING, successful privately held companies like Alando (acquired by eBay) and ImmobilienScout24 (acquired by Deutsche Telekom) as well as current portfolio companies like Adconion, Astaro, Proximic, Seesmic and Truphone. For more information please visit http://www.wellington-partners.com/.

   Contact    Eric Ly                       Eric Archambeau   Venture Partner               General Partner                                 T: +49-89-2199-4142   [email protected]    [email protected]    Kathy Johnson   Co-founder   Consort Partners   T:  +1 415 823 9566   [email protected]  

Wellington Partners

CONTACT: Eric Ly, Venture Partner, [email protected], or EricArchambeau, General Partner, +49-89-2199-4142,[email protected]; or Kathy Johnson, Co-founder, ConsortPartners, +1-415-823-9566, [email protected], all for WellingtonPartners

Web site: http://www.wellington-partners.com/