According to the latest MoneyTree Survey* data, venture capitalists (VC) invested $6.7 billion in the 3rd quarter of 2006, an 8% drop from the previous quarter. Yet the quarter is marked by increased investments in seed and early stage companies. A sign of weakness in the technology sector, or a sign of VC confidence? What will this portend for 2007? More importantly, what sectors are getting VC attention?

In our first event of the year, we bring together a panel of distinguished venture capitalists, and ask them to examine the investment landscape and look into their crystal balls. Where will VCs likely put their money in 2007? What sectors are hot? What sectors will likely be avoided? Is Web 2.0 a key enabling technology, or a buzz word of the day? Will China be the next bubble? What recommendations are there for the early stage venture or entrepreneur?

Join us for an informative and insightful evening as we kick off 2007 to an auspicious start.

* The MoneyTree Survey is a quarterly study of venture capital investment activity in the United States, conducted as a collaboration between PricewaterhouseCoopers (PWC), Thomson Venture Economics and the National Venture Capital Association

Moderator

• Steve Bengston Managing Director of Emerging Company Services (ECS), PricewaterhouseCoopers

Panelists

• Eric Dunn, General Partner, Cardinal Venture Capital
• Paul Koontz, General Partner, Foundation Capital
• Pete Moran, General Partner, DCM Doll Capital Management
• Tom Rosch, General Partner, InterWest Partners
• John Steuart, Managing Director, Claremont Creek Ventures
• Gus Tai, General Partner, Trinity Ventures

Register Now

• Event Logistics
• Speaker Biographies

Location
Wilson Sonsini Goodrich & Rosati
950 Page Mill Rd.
Palo Alto, CA 94304

(Please note that Wilson Sonsini's main office is at 650 Page Mill Road. Our event will be held in the conference room on the 2nd floor at 950 Page Mill Road, which is down the street from their main office.)
Directions and Map

Pricing

	Pre-register Online	Drop-in At the Door
CSPA Premium Members*	$15	$20
CSPA Basic Members+	$25	$30
Students	$20	$25
Non-Members	$30	$35

^* Premium members: Sign up for Annual membership for only $30!
⁺ Basic Members: Sign up for free! (former list members)

Appetizers and drinks will be served.

Journalists requesting media credentials: CSPA requires proof of applicant's professional status, including a titled business card.

Spaces are limited. Pre-register online to reserve a seat and receive a discount.

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Steve is Managing Director of Emerging Company Services (ECS) at PricewaterhouseCoopers. ECS acts as "mentor capitalists" for young, high potential companies and assists them with a variety of services, including:

• Reviewing Executive Summaries/Investor Presentations
• Raising Money
• Partnerships
• Finding People

ECS works closely with the leading opinion leaders/influencers in the Bay Area, including venture capitalists, attorneys, bankers and other service providers that have made Silicon Valley the leading high tech center in the world.

Before joining PwC, Steve had 20 years of experience in a variety of marketing, business development and general management roles at several high tech companies in the Bay Area. Most recently, he was Pres/CEO of ynot.com, a leading international emarketing and greeting card company. Previously, he was VP Marketing & Business Development at Worldview Systems, an Internet travel pioneer. At Worldview, Steve helped launch and market Travelocity with Sabre Interactive.

Steve has a BA in Economics and MBA from Stanford University. He works closely or sits on the Advisory Board at Time Domain Systems, SDForum, Financing Partners, and the Stanford/MIT Venture Lab, has taught classes on funding/running start ups at UC Berkeley, Santa Clara University, Hastings Law School, and Stanford, and is active in a variety of other organizations in the Bay Area targeting entrepreneurs and investors. He is a frequent moderator/panelist at both university and industry sponsored events.

Eric joined Cardinal Venture Capital in 2003. Prior to joining Cardinal Venture Capital, Eric was an independent private investor, making investments in early-stage software and technology companies. Previously, from 1986 to 2000, Eric was a member of the senior management team of Intuit Inc. (NASDAQ: INTU) during its growth from a four-person startup to a leader in financial software with over $1 billion in annual revenue. At Intuit, Eric served as CFO, VP/GM and SVP/CTO, while also leading the initial development efforts for Quicken for Windows and Quicken for Macintosh. Eric was CFO during Intuit's IPO and the company-shaping acquisition of ChipSoft (Turbotax) and also initiated many of Intuit's activities in electronic financial services and its international expansion.

Before working at Intuit, Eric was a management consultant at Bain and Company, and also worked at IBM for two years as a software engineer.

Eric is responsible for Cardinal's investments in BitPass, Tempo Payments Inc. (where he serves as Chairman), LiveCapital (where he served as Chairman; acquired by Dun & Bradstreet), and SuccessFactors. Eric also serves on the boards of Corillian (NASDAQ: CORI), Tibco (NASDAQ: TIBX) and PayCycle.

Eric graduated Summa Cum Laude with an A.B. in Physics from Harvard College and received his MBA from Harvard Business School where he was a Baker Scholar.

The operational challenges that face start-up enterprises are nothing new to Paul, who helped get Netscape Communications off the ground as the company's first vice president of marketing. Paul joined the Foundation Capital team in 1996, and since then has focused on enterprise software and Internet technologies.

Paul led Foundation's investments in and serves on the boards of Financial Engines, Envestnet, Pacific Edge Software, Vivecon and Dust Networks. Paul formerly served on the Boards of United Online (NASDAQ: UNTD) and Onyx Software (NASDAQ: ONXS). Paul also serves on the board of the Stanford University DAPER Fund and is Chairman of the school board for Summit Preparatory High School in Redwood City.

Prior to his time at Netscape, Paul worked in a variety of senior management positions at Silicon Graphics Inc. and Hewlett-Packard.

Paul loves to spend time with his children, play the guitar and piano (poorly), and dream about the days when he could participate in sports without having to rest every few minutes.

In addition to a Masters in engineering management from Stanford, Paul holds a BS in mechanical engineering from Princeton.

As a twenty year veteran of the semiconductor industry, Pete Moran anchors DCM's investments into semiconductor and component companies.

Prior to joining DCM, Pete built his career through several facets of the industry: from Semiconductor Equipment to Semiconductor Manufacturing through management consulting to components distribution. Most recently, Pete helped launch and then led the Computer Products business for Arrow Electronics out of Silicon Valley. In his first two years with Arrow, the world's largest distributor of electronic and computer products, Pete ran Finance for the Anthem Electronics subsidiary. While at Anthem, he later ran Systems Integration where he turned the once-struggling operation into a profitable, industry-leading performer.

Before Arrow, Pete worked at McKinsey & Co in Silicon Valley, San Francisco, Singapore and Munich, where he managed engagements with a wide range of electronics and communications industry clients. As McKinsey's internal practice expert on the Semiconductor industry, Pete also trained McKinsey consulting teams around the world and worked with semiconductor industry leaders to develop product and business strategies and enhance their manufacturing efficiencies.

Prior to McKinsey, Pete worked with Hewlett-Packard to improve manufacturing efficiency and control of high performance analog and mixed signal semiconductors. Before Hewlett-Packard, Pete helped manage the growth of KLA Instruments' wafer inspection division from infancy to worldwide market leadership.

Pete served on the board of or advised the MIT/Stanford Venture Lab, MIT Semiconductor Program, and the TiE Semiconductor SIG Board.

Pete received his BSME and MSME degrees from Stanford University. He also earned an MSEE from Massachusetts Institute of Technology, where he was a Leaders For Manufacturing Fellow, and an MBA from the MIT Sloan School of Management.

Born in the Philippines, Pete lived the nomadic childhood of a military son -- though his early years were spent in the Mojave Desert, England and Singapore, Pete will tell you New Orleans (where he attended high school) is where he's from. He is currently settled in Los Altos, California, with his wife and three children.

Tom Rosch is a General Partner of InterWest Partners. He focuses on networking, semiconductors and infrastructure software. Representative investments include Juniper Networks; Signio, acquired by VeriSign; Sentient Networks, acquired by Cisco Systems; eStamp; and Accept.com, acquired by Amazon.com. Rosch is currently on the boards of Open-Silicon, Ample Communications, SiliconOptix, Platform Solutions, Quantance and Sierra Logic. He also led InterWest's investment in Staccato Communications.

Previously, Rosch was a partner at AT&T Ventures, where he focused on networking, software infrastructure and semiconductors. Prior to that, Rosch was senior manager of the Media Convergence Practice at The Boston Consulting Group and an analyst at Morgan Stanley.

Rosch received his M.B.A. and J.D. from Stanford, and a B.A., magna cum laude, from Harvard. He lives in Woodside, California, with his wife and twin eleven-year-old daughters.

John has spent the last 20 years managing, building and investing in technology and life science companies. John focuses on the intersection of the information technology and life sciences markets including bioinformatics, molecular diagnostics, genomics, proteomics, software and instrumentation for med-tech industries.

John serves on the board of directors of Arcxis, PropertyBridge, and Tibion Bionic Technologies. He is an Industry Fellow at the Center for Entrepreneurship and Technology at the College of Engineering as well as a member of the Advisory Council to the Lester Center's Berkeley Entrepreneurs' Forum at UC Berkeley. He recently joined the Advisory Board for Technology Ventures Corporation (TVC), an organization which fosters entrepreneurs and technologies coming out of the national labs such as Lawrence Berkeley, Sandia and Lawrence Livermore.

Early in his career, he joined Alafi Capital, an Emeryville-based venture firm specializing in early-stage biomedical companies, where he served as an officer of the General Partner. At Alafi, John lead investments in more than a dozen successful start-ups, and served as the senior executive and board member of various firms such as Tanox, Software Ventures, Lipomatrix, and Megan Health.

In the mid-90s, together with colleague Nat Goldhaber, John helped start Cybergold, an Internet marketing and payments company, serving as the early COO and CFO through its IPO, merger with Mypoints and sale to United Airlines. John continued with the Mypoints unit of United serving as the Senior Vice President of Strategic Partnerships.

John lives in Berkeley with his wife and three children, a block away from the Triple Rock brewery.

Gus Tai is a General Partner at Trinity Ventures, a Silicon Valley venture capital firm founded in 1986 and focused on building leading-edge technology and services companies.

Since joining Trinity in 1996, Gus has specialized in funding early stage companies pioneering new market categories. He particularly enjoys getting involved at the time of company formation, working with founders to help build the team and refine the business model.

Gus focuses on consumer services and consumer enabling technologies, and maintains an interest in enterprise software. Representative companies that Gus funded, most for which he led or co-led the first institutional round, include the following.

Consumer Services:
• Blue Nile (NILE)
• eSurance (acquired by White Mountains Insurance: WTM)
• mSpot
• Photobucket
• PlayFirst
• scanR
• Wetpaint

Consumer Enabling Technologies:
• Amalfi Semiconductor
• Modulus Video
• SpeedEra Networks (acquired by Akamai Technologies: AKAM)

Enterprise Software:
• Aventail
• Invio Software (acquired by Veritas: VRTS)
• Jobster
• Kiva Software (acquired by AOL/Netscape: AOL)
• Sygate Technologies (acquired by Symantec: SYMC)

In his spare time, Gus is a Director of the MIT Club of Northern California and the Chinese Software Professionals Association.

Education:
MIT Leaders for Manufacturing Fellow
M.B.A., MIT Sloan School of Management
M.S., Materials Science and Engineering, MIT
A.B., Applied Mathematics, Harvard University