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TMCNet:  New England Venture Network (NEVN) Recognizes TechStars Boston and Fairhaven Capital’s Rick Grinnell for its Annual Community Leadership Awards

[March 17, 2010]

New England Venture Network (NEVN) Recognizes TechStars Boston and Fairhaven Capital’s Rick Grinnell for its Annual Community Leadership Awards

-- New England Venture Network (NEVN), the largest network of young venture capital professionals on the East Coast, will announce the winners of its two Community Leadership Awards at the nonprofit organization's annual gala tonight. NEVN will recognize TechStars Boston for its industry focus in supporting local startups and Rick Grinnell of Fairhaven Capital for his dedication to Boston area nonprofit organizations, which significantly enhance the broader community.

A mentorship-driven, seed-stage investment program, TechStars Boston was selected for the award because of its contributions to turn good ideas into successful companies. Founded in 2007 in Boulder, CO, TechStars selects about 20 companies per year for seed funding, mentoring, and guidance with the opportunity to pitch to angel investors and venture capitalists at the end of the program. Last year, Shawn Broderick launched the TechStars program in Boston, and identified and supported nine breakout startups.

A co-founder of Fairhaven Capital, Grinnell was selected because of his active involvement with several nonprofit organizations in the Boston area. Grinnell’s interest in volunteering his time and effort for the Boston Medical Center (BMC), where he has served on the Board of the Boston Medical Center Exceptional Trust for three years, stems from his desire to make a positive impact in the local community by raising funds and volunteering for an organization that provides high quality health services to all patients irrespective of their ability to pay. Additionally, he is active with Big Brothers Big Sisters (BBBS) of Massachusetts Bay, serving on the Big Night Organizing Committee, which typically raises over $2M for the organization each year, as well as organizing fundraising activities to support the mentoring activities of BBBS across 155 cities and towns in the Massachusetts Bay area.

"In selecting TechStars and Rick, NEVN honors two leaders whose focus is on developing and supporting our community. In its first year here in Boston, TechStars has already made a big impact among not just the nine startups selected for TechStars Boston's inaugural class, but on the community at large because TechStars represents a new but tested way for startups to get seed funding, and more importantly, operational support and mentoring from top investors, entrepreneurs and business leaders," said Geraldine Alias, Principal at Volition Capital and a NEVN co-chair. "As for Rick, he represents a VC community that aggressively gives back to the nonprofit community. Rick does more than just write checks to the nonprofit organizations he's involved with; he provides them with the same dedicated and advice he provides his portfolio companies." Open to qualified members of the venture capital industry, NEVN serves as a community where young venture capital professionals can network and further their careers, both at offline events and online at VentureNetwork.VC. The organization also helps promote and support sponsored local nonprofit organizations. The award for contributions to the nonprofit community, now in its second year, is another way NEVN supports the sector.

According to John Simon, Managing Partner at General Catalyst, a Founder of the GreenLight Fund, and a NEVN Award Winner in 2009, "It is great the way NEVN and its community 'gives back' and makes a difference in our community. We and GreenLight are honored to be part of this community and look forward to continuing to do all that we can do to make Boston a better place for all." The event will feature NEVN's 2009 charitable partners, including Boston Medical Center, Conservation Law Fund, Greater Boston Food Bank, GreenLight Fund, the Guidance Center and United Way of Massachusetts Bay and Merrimack Valley. Attendees include young venture capital professionals and limited partners from over 30 of the area's leading firms.

About New England Venture Network (NEVN) New England Venture Network (NEVN), the largest network of young venture capital professionals on the East Coast, is dedicated to cultivating sustained relationships to share resources, source deals, and advance members' careers. Open to qualified members of the venture capital community, NEVN is committed to providing networking events, educational panels, volunteer opportunities, and its industry-leading online portal, VentureNetwork.VC. Offering outstanding opportunities for leading venture capital service providers to connect with their clients, NEVN, which was founded in 1999, helps promote and support sponsored local nonprofit organizations. For more information or for information on membership requirements, visit www.venturenetwork.vc.

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