Spinnaker Ventures Helps U.S. Emerging Companies Tap Latin American Markets.

Raises First Fund of $53 Million, With 5 Companies Funded To-Date

SAN FRANCISCO, Nov. 28 /PRNewswire/ --

Spinnaker Ventures, a venture capital fund that also helps U.S. emerging companies to expand into Latin American markets, recently closed its fund of $53 million. The funds come mainly from Latin American institutional and individual investors representing key segments of the Latin American economy.

To date, Spinnaker Ventures Fund has invested in five expansion-stage U.S. companies that concentrate on different market segments, including wireless broadband, technology infrastructure and business services:

-- Arraycomm (www.arraycomm.com) provides the technology to enable always- on broadband portable wireless connectivity,

-- Stellcom (www.stellcom.com) combines wireless and embedded systems expertise to deliver leading edge wireless engineering solutions,

-- NowDocs (www.nowdocs.com) uses the Internet as a communication tool to provide high quality printing and worldwide delivery of documents in as little as two hours,

-- iEngineer (www.iengineer.com) produces web-based collaboration software for enginnering design which enables build to order products, and

-- Massive Media Group (www.massivemedia.com) helps entertainment companies package, distribute and monetize content delivered online with digital rights protection.

Spinnaker Ventures works with successful U.S.-based companies to expand their business and bring innovation into the Latin American region by leveraging the partners' network of contacts in the government and business community.

"Succeeding in a new market requires the right product and service mix and a deep understanding of how business is done locally," said Claude Pomper, managing director and a founding partner of the fund. "We provide a point-of- entry, cultural advice and a network of contacts that can drive very rapid expansion throughout the region."

Spinnaker Ventures collaborates with other venture capital firms to help their portfolio companies tap worldwide markets.

"Broadband infrastructure and business services will explode in the next 24 to 36 months, giving young, aggressive U.S. companies a tremendous advantage, especially as they expand into new markets," said Robert Kibble, managing partner of Mission Ventures, a California-based venture capital firm. "With Spinnaker's expertise and relationships, our portfolio companies can leverage what they learned in the U.S., while grabbing the first-mover advantage in Latin America."

Spinnaker Ventures, based in San Francisco and founded in 1999, also has an office in Sao Paolo, Brazil.

The Latin American market represents 500 million consumers, and is becoming an increasingly critical source of revenue for technology-driven businesses. Today, established technology global players generate 10 to 15 percent of global revenues from Latin America.

Spinnaker Ventures' three founding partners have substantial international experience; in 1977, Claude Pomper established Citibank's investment banking activities in Brazil and proceeded to replicate the model in other Latin American countries, most recently creating the emerging market investment banking division of Credit Agricole Indosuez.

The two other co-founders, Gregorio Schneider and Marcos Rosenberg, have extensive experience in Latin America. Schneider was a vice president in the emerging markets division of Credit Agricole Indosuez; Rosenberg was a senior management consultant with Booz Allen & Hamilton.

Spinnaker Ventures, LLC, an expansion-stage venture capital fund, invests in high-quality emerging companies in the U.S. and helps them expand by leveraging the firm's network of contacts and international experience in Latin America. Its first fund targets companies with innovative offerings in communications, technology-infrastructure and services businesses. Spinnaker Ventures, based in San Francisco with offices in Sao Paolo, Brazil, also works closely with other venture capital firms to create first-mover advantage for their portfolio companies in Latin American markets. The company can be reached at www.spinnakerventures.com.

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CONTACT: Gregorio Schneider, Co-founder and partner of Spinnaker Ventures, 415-354-5972, gregorio@spinnakerventures.com or Amy Bermar, President of Corporate Ink, 617-969-9192, abermar@corporateink.com