News
NewSpring Ventures-Backed CEO Recognized by the Greater Philadelphia Venture Group as “Entrepreneur of 2003”
FOR IMMEDIATE RELEASE
King of Prussia, PA (June 2003) – NewSpring Ventures, L.P., a $90 million venture capital fund that invests in business services, healthcare and information technology companies in the Mid-Atlantic region, is proud to announce that Jim Sheward, CEO of Fiberlink, a NewSpring Ventures’ portfolio company, was named “Entrepreneur of 2003” by the Greater Philadelphia Venture Group at their annual awards ceremony on June 12, 2003.
“We are glad to see Jim’s hard work and dedication to Fiberlink recognized by the local business community, and we anticipate future success for him and his organization,” commented Michael DiPiano, Managing Partner of NewSpring Ventures.
Sheward serves as Chief Executive Officer, Co-founder and Director of Fiberlink. He has built the team and secured the funding that has enabled Fiberlink to become a leading provider of managed Internet-based virtual private networks. His leadership and focus on the customer have shaped the company and made Fiberlink into a profitable, customer-centric organization that was recently named to the Hot 100 by UPSIDE magazine.
NewSpring Ventures first invested in Fiberlink in December 1999 and again in December 2000.
About NewSpring Ventures, L.P.
NewSpring Ventures, L.P. (www.newspringventures.com), based in Conshohocken, PA, is a $90 million venture capital fund providing equity capital to growth and expansion stage companies throughout the Mid-Atlantic region, with a focus on business services, healthcare services and information technology. The Fund seeks to invest in companies with proven management, a demonstrated revenue model, significant growth potential, and a strategic competitive advantage.
About Fiberlink
Fiberlink is a leading provider of remote access and security solutions for the enterprise market. The company offers a full range of solutions that allows companies to securely and cost-effectively connect their remote employees and remote offices from anywhere in the world. Unlike traditional facilities-based carriers, Fiberlink combines multiple-IP networks and integrates them with best-of-breed security products to deliver a unique value proposition to the enterprise market: Fully managed remote access solutions that reduce costs and provide unmatched access and security. Fiberlink was also among the first companies to deliver true policy-based remote access to the marketplace. Because of these innovations, leading analysts continue to cite Fiberlink as an acknowledged leader in the remote access VPN marketplace.
