Charles River Ventures Closes Fourteenth Fund at $320 Million

CRP XIV Will Focus on Early-Stage Information Technology Investment
Opportunities

WALTHAM, Mass. and MENLO PARK, Calif., March 30 /PRNewswire/ -- Charles River
Ventures (CRV), one of the nation's leading early-stage venture capital firms,
today announced that it has closed its fourteenth fund, CRP XIV, at $320
million. The closing of CRP XIV brings the firm's total capital under
management to approximately $2.1 billion.

"Over the last two years, we've worked with talented entrepreneurs to achieve
more than a dozen positive exits across our portfolio, including three initial
public offerings as well as the largest venture-backed M&A transaction of
2008," said Bruce Sachs, partner, Charles River Ventures. "Clearly our
investing strategy is working. With our new fund, we will continue to invest
in high-potential entrepreneurs and we will work hard with them to help them
create hugely impactful companies. We believe that this strategy will
continue to deliver top results for the entrepreneurs we back as well as our
limited partners."

CRV's liquidity events over the past 24 months have yielded approximately $600
million in returns for the firm's limited partners. These events include:
-- Three IPOs: BigBand Networks (Nasdaq: BBND), Netezza (NYSE: NZ),
Virtusa
(Nasdaq: VRTU)

-- Numerous positive mergers and acquisitions including: EqualLogic to
Dell; Acopia Networks to F5 Networks; Compete to TNS; Celunol merger
with Diversa to form Verenium (Nasdaq: VRNM)

With CRP XIV, CRV will continue to invest in early-stage Information
Technology companies within the communications, Internet, and software
segments as well as emerging companies focused on energy and Intellectual
Property. CRV's current portfolio includes some of the most promising young
companies in these sectors today, including Geni, Great Call, Nantero, RPX,
Scribd, SMS Gupshup, Social Media, Twitter, Vlingo and Yammer, among several
others. In addition, CRV seeks out investment opportunities in the earliest
stages, and frequently provides seed funding to promising entrepreneurs with
breakout potential.

The investing partners of CRV XIV include: Izhar Armony, Jon Auerbach, Saar
Gur, Bruce Sachs, Bill Tai, Austin Westerling, Devdutt Yellurkar and George
Zachary. Mike Zak will also continue as a partner of the firm, serving in
advisory capacity on new investments. CRV's limited partners include
long-standing investors with the firm, including major universities, pension
funds and non-profit institutions.

"In the current economic climate, we are especially grateful to our limited
partners who have the long-term vision to invest in early-stage ventures and
trust us with their valuable capital. We are committed to delivering the top
results that they have come to expect from CRV," said Sachs.

About Charles River Ventures

Founded in 1970, Charles River Ventures is one of the nation's oldest and most
successful early-stage venture capital firms with approximately $2.1 billion
under management. CRV is dedicated to helping exceptional entrepreneurs turn
their ideas into the next category leaders in high-growth technology sectors.
Since its founding, CRV funds have been ranked among the industry's top
performers. CRV has offices in Boston, MA and Menlo Park, CA. For more
information, visit www.crv.com.

SOURCE Charles River Ventures

Meg O'Leary +1-781-916-9090, x802, meg@inkhousepr.com