01.20.11 Independence Equity Management Launches New Early Stage Venture Fund

Northbrook, IL — January 20, 2011 — Independence Equity Management LLC announces the launch of Independence Equity I LP (“Fund”), a venture capital fund that will invest in early-stage companies commercializing technologies that improve resource utilization. Today’s announcement follows the first close of capital for the new Fund, which will begin making investments this year. A second close is tentatively scheduled for April 30, 2011.

The Fund’s principals define resource utilization as the use or consumption of resources such as raw materials and labor. The objective is to identify innovations in business processes and technologies that reduce raw material consumption, improve yield/performance, increase labor efficiency or enable point-of-use production. The principals believe technologies such as these enable the United States to strengthen its manufacturing base even amidst lower wage global competition. Key sectors include material science, industrial innovation and clean technologies.

The Fund, based in Northbrook, IL, will focus primarily, though not exclusively, on companies located in the greater Midwestern United States, which traditionally have had more difficulty attracting venture capital. According to the Fund’s principals, “2011 has the markings of a vintage year with excellent potential. Valuations are attractive; the recession has distinguished the strongest entrepreneurs; and innovation is prevalent in the Midwest where there is a relatively limited supply of early stage venture capital. With the Fund in place, we have an opportunity to invest and help build the next generation of great companies.”

There are four managing principals of the Fund: Donald Sackman, Michael McCullough, Laurence Hayward and Michael Gruber. The principals have advised and invested in early-stage companies through multiple market cycles.

For further comments or questions, please contact Independence Equity Management at 847-739-0100 or its principals at the following email addresses:

Donald Sackman, dsackman@independence-equity.comMike McCullough, mmccullough@independence-equity.comLaurence K. Hayward, lhayward@independence-equity.comMichael C. Gruber, mgruber@independence-equity.com