PROfounders Capital Announces the Initial Close of Its First Venture Capital Fund

Appointment of Sean Seton-Rogers as Partner
LONDON--(Business Wire)--
PROfounders Capital today announces the initial close of its first venture
capital fund, a fund established by entrepreneurs for entrepreneurs. The
cornerstone investors in the fund are successful entrepreneurs from across the
Europe; Michael Birch, the founder of Bebo and BirthdayAlarm; Brent Hoberman,
the founder of Lastminute.com and Mydeco; Peter Dubens, the founder of Oakley
Capital and Freedom4 Group; and Jonathan Goodwin, the founder of LongAcre
Partners.

Rogan Angelini-Hurll, General Partner in the fund, commented:

"PROfounders Capital is an unique collection of entrepreneurial capital and
knowledge. We have a significant opportunity to leverage the wealth of
experience and expertise of our principals to invest in the future successful
businesses of Europe, to add value to our investments, and to promote a more
entrepreneurial environment."

PROfounders Capital intends to be an active participant in early-stage ventures
focused on the new business models of digital media and technology. Typically,
investments will aim to fill the gap between angel and traditional venture
funding. The philosophy of PROfounders Capital also will focus on fostering and
supporting entrepreneurism in Europe on a wider level. The investors in the fund
recognise the need, and are excited by the prospect, of grouping together to
help the next wave of European entrepreneurs.

In addition, PROfounders Capital is pleased to appoint Sean Seton-Rogers as
General Partner. Sean joins Rogan Angelini-Hurll on the investment team at
PROfounders Capital. Sean brings close to a decade of venture capital experience
across the US and Europe. Most recently, Sean was with Balderton Capital
(formerly Benchmark Capital Europe) where he worked closely with companies such
as Bebo, Wonga.com, MoveMe, and TouchLocal. Sean`s view is that, "We want the
spirit of the fund to reflect our approach - we aim to make decisions from the
point of view of the entrepreneur throughout our investment period. We believe
that PROfounders Capital represents an exciting new initiative to benefit early
stage entrepreneurs".

PROfounders Capital expects to announce additional individual investors to the
fund in the coming months, adding further weight, wider interaction and
increased experience. "Our aim is to be a central force in the entrepreneurial
ecosystem in Europe," said Michael Birch. "This is an opportunity for us to help
nurture new initiatives at an important time when digital is becoming part of
the fabric of our daily lives yet profits are increasingly flowing out of
Europe," adds Brent Hoberman.

PROfounders Capital
Rogan Angelini-Hurll, +44 (0) 20 7766 3037
Sean Seton-Rogers, +44 (0) 20 7766 3036
www.profounderscapital.com

Copyright Business Wire 2009