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San Francisco, CA/Mumbai, India - April 16, 2002 - Walden International, a leading global venture capital firm, today announced the appointment of General Partner Dinesh Vaswani as the head of its Indian office. The firm also announced that Vice Chairman C.C. Tang, based in Singapore, will focus his energies on cross-border India-Asia investments and that General Partner Danial Faizullabhoy, will focus on India-US investments. Today's announcement marks Walden International's ongoing commitment to cross-border investing, as Dinesh will also be assisting Walden International's team in Asia in identifying and developing cross-border software companies. "While there is a global slowdown in the technology industry, India's talent pool represents tremendous untapped opportunity" said Lip-Bu Tan, chairman and founder of Walden International. "At Walden International, we take a long term view of markets, and seek to build deep relationships with entrepreneurs and stakeholders." "Walden International's team approach enables us to benchmark opportunities to world-class standards, while providing the highest quality of support to our portfolio companies." Tan continues, "We expect that Dinesh's existing relationships within India as well as his deep understanding of the technology markets in Silicon Valley will be powerful enablers to ramping up our pace of investments in India-based companies. We look forward to helping build the next generation of world-class companies originating in India." "I look forward to building upon Walden International's position as the leading cross border venture firm," said Dinesh Vaswani. "Walden already has a strong portfolio of companies based in India, and I look forward to both helping these companies grow as well as in funding new businesses." Mr. Vaswani brings 16 years of operational and investment expertise to Walden International. Prior to joining Walden International, he was the founding CEO of WordWalla, a software company that developed embedded software for mobile devices. Previously, Mr. Vaswani served as the Director of Business Development at EventSource.com where he established strategic partnerships with Oracle, Ariba and American Airlines. While at EventSource.com, Mr. Vaswani also co-initiated EventSource.com's entry into the enterprise intranet marketplace. Earlier in his career, Mr. Vaswani served as a principal with The Chatterjee Group (TCG), an affiliate of George Soros and Soros Fund Management, where he incubated and managed a successful software services venture as well as a joint venture with Computer Associates. Mr. Vaswani was also instrumental in TCG's efforts to acquire United Airlines as a customer, which led to the formation of a separate joint venture software company. Previously, he served as President of Blue Start Infotech's US operation and founded the MicroComputer Practice Group in Accenture's Houston office. Mr. Vaswani will take over for Sudhir Sethi who is leaving Walden International to pursue other interests. Mr. Vaswani will relocate with his family from the firm's Palo Alto Office. About Walden International Walden International is a leading global venture capital firm, providing early stage technology companies with the advantage of an unrivaled global network since 1987. The firm's international venture capital funds comprise more than US$2 billion in committed capital. Walden International's globally organized network of multi-cultural investment professionals spans the United States, Hong Kong, China, Singapore, Japan, Taiwan, India, Malaysia and Philippines. For more information, please visit www.waldenintl.com. For further information contact: Mr. Sunil Gautam Hanmer & Partners Tel: 91-80-460-8545 E-mail: sunilgautam@hanmerpr.com Celia Webb Fleishman-Hillard/San Francisco/USA Tel: 415 356 1011 E-mail: webbc@fleishman.com
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