IPOs/recent issues: ONI Systems –

San Jose, Calif.

Went public 6/1/2000 at $25 apiece

Filing Range: 8 mil. Shares @ $21 to $23

Shares Outstanding: 123.66 mil. shares

Underwriters: Goldman, Sachs & Co./Banc of America

Securities LLC/Chase

H&Q/FleetBoston Corp.

Company Counsel: Fenwick & West LLP

Manager Counsel: Sullivan & Cromwell

Auditor: KPMG LLP

The Company:

Develops protocols, software and hardware products to manage and deliver high optical bandwidth data networks for the metropolitan marketplace. The company supplies products for Wave Division Multiplexing (WDM) transport, optical switching, and gigabit IP switches and routers.

Venture Backers:

Bowman Capital

Fidelity Venture Associates

Mohr, Davidow Ventures

Kleiner Perkins Caufield & Byers

Canaan Partners

Chase Capital Partners

Cisco Systems Inc.

Invesco Private Capital

Silver Creek Technology Investors

Sumitomo Corp.

Financing Rounds:

Number of Round Amt.

Round # Round Date Stage Investors ($ thousands)

1 01/13/1998 2 Early Stage 7300.0

2 12/22/1998 2 Expansion 7000.0

3 01/01/1999 1 Expansion 2000.0

4 09/08/1999 8 Expansion 15000.0

5 01/22/2000 9 Later Stage 75000.0

Financials:

(Data in $ millions)

Y/E

12/31/99

Total Revenues: $3.0

Net Loss: -46.6