Accel Partners Announces John Volk Joining Firm as CFO

Business Wire, August 7, 2001

Business Editors/High-Tech Writers

PALO ALTO, Calif.--(BUSINESS WIRE)--Aug. 7, 2001

Accel Partners, a leading venture capital firm dedicated to helping outstanding entrepreneurs build world-class technology companies, today announced that John Volk will join the firm as a partner and chief financial officer (CFO).

With extensive experience as a tax partner responsible for leading PricewaterhouseCoopers' large venture capital tax practice in Silicon Valley, Volk brings to Accel a broad and deep knowledge of the venture capital industry and a wide network of contacts. Volk has more than nine years of experience as a "Big Five" public accounting firm tax consultant and more than seventeen years of experience as a practicing attorney involved in venture capital, tax and securities.

(Editors, please note: expanded biographical information on Volk appears at the end of this announcement.)

"We're very excited to have John on the team," said Alan Austin, partner and chief operating officer at Accel. "His background and experience, as well as his sharp focus on client service, will allow us to continue to provide consistently high quality reporting as well as first rate service and support to our limited partners and portfolio companies."

As Accel's CFO, Volk will be responsible for overseeing all financial reporting, tax, accounting, and investment processing, and he will play a major role in investor relations. Volk will replace Carter Sednaoui, who announced his intention to depart from Accel's CFO position earlier this year after more than 10 years of service. Accel is moving its finance department and administrative offices from Princeton, N.J. to the firm's headquarters in Palo Alto, Calif., where Volk will start work later this month.

About Accel Partners

Founded in 1983, Accel Partners has a history of excellence and innovation in the venture capital business. The firm is dedicated to partnering with outstanding management teams to build world-class software/Internet and communications companies. With more than $3.5 billion under management, Accel Partners has a legacy of helping entrepreneurs build highly successful companies. Accel's portfolio has included successful communications companies such as ArrowPoint Communications, Foundry Networks, Redback Networks, Tellium and UUNET, as well as software/Internet companies such as Actuate, RealNetworks and Veritas Software. For more information, visit the Accel Partners Web site at www.accel.com.

John Volk Biography

With extensive experience in the venture capital community as a PricewaterhouseCoopers tax partner, Volk brings to Accel a broad and deep knowledge of the venture capital industry and a wide network of contacts.

At 52, Volk has more than nine years of experience as a tax consultant working with "Big Five" public accounting firms and more than seventeen years of experience as a practicing attorney involved in venture capital, tax and securities.

Before joining Accel, Volk was a tax partner responsible for leading PricewaterhouseCoopers' extensive venture capital tax practice in Silicon Valley. During the most recent two of his six years at PricewaterhouseCoopers, Volk was responsible for directing the growth of the venture capital tax practice from 125 venture capital firms to 170 firms.

Before joining PricewaterhouseCoopers, Volk was a partner at Fthenakis & Volk, a Palo Alto law firm, where his practice focused on venture capital, securities and pass-through entities. Prior to this post, Volk was general counsel to commercial/residential real estate firm, Callahan Property Company. Volk was previously a senior vice president and securities counsel for a national real estate syndication firm, The Fox Group of Companies/Metric Partners, where he was responsible for securities law matters and heavily involved in investor relations. Volk has also worked with Deloitte & Touche as a member of its tax staff and with the law firm, Ropers, Majeski, Kohn, Bentley & Wagner.

Volk has been a member of the Committee on Partnerships and Unincorporated Business Associations of the California State Bar and is a frequent speaker at conferences addressing venture capital matters.

Volk earned a B.A. degree from Claremont McKenna College and a J.D. degree from Duke Law School. Additionally, he has studied in the Masters of Taxation program at Golden Gate University.