Austin Ventures Promotes Phil Siegel to General Partner

Business Wire, Sept 24, 2007

Siegel to Continue Focus on Growth Equity Investments

AUSTIN, Texas -- Austin Ventures, a leading venture capital firm, today announced the promotion of Phil Siegel to the position of general partner.

"In recognition of Phil's significant contributions to our portfolio investments and to Austin Ventures, we are pleased to announce his promotion to the role of general partner," said John Thornton, general partner, Austin Ventures. "Phil has played a critical role in helping to build and position valuable portfolio companies in our growth equity practice. As general partner, he will play an integral role representing the next generation of Austin Ventures leadership."

Mr. Siegel joined Austin Ventures as a venture partner in October 1999. As a venture partner, Phil played a key role in expanding the growth equity practice with a particular emphasis on the supply chain, business services and information services markets. Phil has led our successful CEO-in-Residence program over the last three years.

Phil has founded several companies, including Austin Ventures' portfolio company, Newgistics, the leader in returns management. Phil led our investments in and serves as a board director of All Star Directories, CreditCards.com, HomeAway, Newgistics, and Re:Trans. "Phil has brought a fresh and successful style of investing to Austin Ventures. He has a talent for locating unique businesses with proven potential, and then combining them with seasoned executives to fully realize that potential. We consider him a general partner in the success of HomeAway, and we're glad to see the same well-deserved recognition within Austin Ventures," said Brian Sharples, CEO, HomeAway.

Prior to joining Austin Ventures, Phil spent 11 years with the Boston Consulting Group (BCG), most recently as a vice president, partner, and director in the Dallas office. At BCG, Phil developed deep expertise in the financial services and consumer goods and services industries. Phil received his MBA and undergraduate degrees from the University of Chicago. Phil served as an adjunct professor in the entrepreneurship department at the University Of Texas Graduate School Of Business from 1999 to 2002 and at the business school of St. Edwards University. He is currently a professor in the Acton School of Management.

About Austin Ventures

Austin Ventures has been working with talented entrepreneurs to build valuable companies since 1979. With $3 billion under management, AV is the most active venture capital firm in Texas, and one of the most established in the nation. With a focus on business services, information services, computer and communications hardware, and enterprise software, Austin Ventures invests at all stages of company development, from $100,000 "planned experiments" to $50 million investments in management buyouts. Visit austinventures.com for more information.