Info Tech Ventures Names Chin Principal –

MENLO PARK, Calif. – Eric Chin joined Information Technology Ventures in January as a principal who will focus on the Internet, e-commerce and software.

Mr. Chin will work with the firm’s three general partners, Mark Dubovoy, Sam Lee and Virginia Turezyn. The firm, which had been searching for a principal for some time, also intends to hire a junior associate.

Mr. Chin has shifted back and forth between the VC and operating worlds. He was attracted ITV for its exclusive focus on information technology and because it is a smaller firm with an “extremely team-intensive” working style that will allow him to participate in all aspects of dealmaking.

Prior to joining ITV, Mr. Chin briefly worked with Genentech Inc. founder Bob Swanson, who introduced Mr. Chin to Dr. Dubovoy, on a small seed-stage fund, Northpoint Capital. In addition to working at Anderson Consulting as an application-software programming consultant and at Mainspring Communications in business development, Mr. Chin was a senior analyst at Highland Capital Partners in Boston for more than three years. He left the firm in 1996 to help form WebSpective Software, an Internet application software company.

“My passion is VC,” Mr. Chin said. “What I love about it is that you get to meet brilliant visionaries and work with them to help build great companies. The mental stimulation is constant.”

ITV closed its second fund, Information Technology Ventures II, L.P., on $131 million in January 1998, along with a $5 million affiliates fund. Dr. Dubovoy expected the vehicles to be almost half invested by the end of January 1999. ITV has about $213 million under management.