Lehman Brothers established a technology venture capital investing effort in 1995. The primary investment objective of Lehman Brothers Venture Partners is to make growth-oriented equity or equity-related investments in privately held companies. In addition, Lehman Brothers Venture Partners may opportunistically make private investments in public companies, growth investments in more mature operating companies or investments in earlier-stage companies in which the technology development risk is clearly identified.

Lehman Brothers Venture Partners focuses on making investments in companies capable of turning innovative technology and management solutions into successful businesses. Accordingly, investment preference is not confined to particular industries, but instead to any industry which is capable of rapid growth through the provision or implementation of innovative technology.

Investors in Lehman Brothers Venture Partners' funds include Lehman Brothers, Lehman Brothers' employees, and institutional and individual third party investors. As an integrated component of the overall Lehman Brothers platform, Lehman Brothers Venture Partners can call on the extensive global resources of Lehman Brothers to assist in evaluating and enhancing the value of portfolio companies. At the same time, the integrity of the investment and portfolio decision process is reinforced by dedicated investment professionals and the substantial capital commitments made by Lehman Brothers and its employees.

Lehman Brothers Venture Partners currently manages more than $850 million in committed capital. Lehman Brothers Venture Partners closed its most recent fund, Lehman Brothers Venture Partners 2003, in August 2003 with $300 million in committed capital. Lehman Brothers Venture Partners maintains offices in New York and Silicon Valley.