PALO ALTO, Calif. – Technology Partners hired Wall Street analyst Lise Buyer in May as the firm’s fifth general partner, said Ira Ehrenpreis, a general partner at the firm. Buyer will remain Director of Internet and New Media Research for Credit Suisse First Boston’s Technology Group and DMG Technology Group through July.
Buyer, who has known Ehrenpreis for about seven years, described her decision to join Technology Partners at this point as the “right people, right investment style, right place, right time.”
“[Technology Partners is] always open to someone of the caliber of Lise Buyer,” Ehrenpreis said. The lessons she has learned through working with institutional investors and small private companies – walking them through the initial public offering process, shaping their messages, presentations and financial models – can be applied to companies earlier on in the lifecycle.
Her experience includes working with companies such as MP3.com, Intraware Inc., ImproveNet Inc., and Digital Impact Inc. Prior to her three-year tenure at CSFB, Buyer worked at T. Rowe Price Associates managing a science and technology fund.
Buyer joins in time to invest Technology Partners’ recently launched vehicle, Technology Partners VII LP, which held a first close on more than $200 million. Ehrenpreis said the vehicle surpassed the firm’s internal target. The firm targets early-stage companies generally West of the Rockies, with initial investments averaging around $7 million to $8 million, he said.
The firm’s previous vehicle, the $100 million Technology Partners VI LP, which closed in July 1998, is almost completely invested in about 10 companies. The firm usually leads its deals and is dedicated to being active investors, taking only two or three board seats each, annually.
Founded in 1980, Technology Partners has some $400 million under management. General Partners Ted Ardell, Bill Hart, Ehrenpreis and Buyer, and Partner Jason Yotopoulos focus on information technology deals, while General Partner Roger Quy concentrates on medical and life sciences investments.
The group recently moved from its offices in Belvedere, Calif., to a new location on University Ave. in Palo Alto, to increase the profile of the firm, Ehrenpreis said.