Greylock Partners Launches Dedicated Israel Fund

$150 Million Greylock Israel Expands Greylock's Israeli Initiative; Three Israel-based Greylock Partners Manage Fund In Concert with US Team

Hertzelia, Israel, Waltham, MA and San Mateo, CA—July 17, 2006
Greylock Partners today announced that it has closed a $150 million dedicated fund, Greylock Israel, from which it will continue to invest in exceptional Israeli related early-stage technology companies. The fund is managed by three Greylock partners, Moshe Mor, Erez Ofer and Yoram Snir. Mor and Snir have recently relocated to Israel to join Ofer in Greylock's Hertzelia office. Greylock Israel is Greylock's first dedicated Israeli-related fund. The news underscores Israel's preeminence in technology entrepreneurship, and the importance of providing locally-savvy operational support to cultivate young Israeli-born firms into global market leaders. Since 2001 Greylock has been a key player in Israel's active venture capital market, investing from Greylock's US funds in eight Israeli companies (for the full list see www.greylock.com/israel). Greylock Israel will continue Greylock's investment focus on early stage technology-related companies with global potential. In doing so the firm will also continue to partner with leading Israeli VCs on investments, and be supported by the Greylock investment team from the US offices - whose vision and operational expertise has helped entrepreneurs to build numerous global market leaders. This is a natural progression of the Greylock Israeli strategy and a result of both a bullish view on the Israeli venture opportunity, and the changing requirements of supporting young companies here, said Moshe Mor. Successful Israeli technology companies are increasingly focusing on the global markets, and are often keeping their headquarters in Israel. With the launch of a dedicated fund and the strengthening of our local presence in Israel, we are well positioned to support Israeli entrepreneurs wherever they choose to operate. Greylock Partners recently marked its 40th anniversary as a leading venture capital firm. Since its founding Greylock has funded and helped build such companies as Ascend Communications, CheckFree, Continental Cable, Decru, DoubleClick, Internet Security Systems, Ikanos, Legato, Millennium Pharmaceuticals, Openwave, Red Hat, RightNow Technologies, Tellabs, Trilogy and Wily Technology. Operating from its three offices in Hertzelia, the Boston area and Silicon Valley, Greylock's team includes three generations of partners, all of which possess deep investing and company operating experience and track records. Partners at Greylock have previously played senior operating roles at leading information technology companies including Check Point Software, Cisco Systems, EMC, CIENA, Excite@Home (AT&T), Peoplesoft (Oracle) and Rational Software (IBM). Across its history, the Greylock approach has put the entrepreneur first, with Greylock working as an "invited guest" in a highly supportive yet consultative way to help entrepreneurs build market-leading companies. About Greylock Partners Founded in 1965, Greylock Partners is one of the world's leading venture capital firms. Over the past 41 years, Greylock has funded and helped build several hundred successful companies. The Greylock approach uniquely puts the entrepreneur first, with Greylock working as an "invited guest" in a highly supportive yet consultative way to help entrepreneurs build market-leading companies. Companies Greylock has funded include Ascend Communications, CheckFree, Continental Cable, Decru, DoubleClick, Internet Security Systems, Ikanos, Legato, Millennium Pharmaceuticals, Openwave, Red Hat, RightNow Technologies, Tellabs, Trilogy and Wily Technology. Greylock's offices are located in Silicon Valley, the Boston area and Israel. For more information, please visit www.greylock.com.