StarVest Portfolio Company NetSuite IPO Opens with Market Capitalization of $1.55 billion

12.20.07

NEW YORK – Dec. 20, 2007 – Underscoring its position as a leading venture capital investor in the technology-enabled business services sector, StarVest Partners announced today the initial public offering (IPO) of portfolio company NetSuite. NetSuite, a vendor of on-demand, integrated business management application suites for small and medium-sized businesses, will trade on the New York Stock Exchange under the trading symbol “N.” NetSuite sold 6.2 million shares in the offering at a price of $26.00per share.

At the offering price, StarVest held shares valued at $70 million.

Deborah Farrington, a StarVest general partner has served as a Board member of NetSuite since StarVest’s initial investment in 2000.

StarVest has invested in the Software-as-a-Service (SaaS) market since 1999 and counts NetSuite as one of eight investments in the space.

About StarVest Partners
StarVest Partners is a disciplined venture capital firm that is funding and building next-generation businesses. The firm’s value-added partnership maintains a core focus on five key emerging technology and services sectors: Software as a Service (SaaS), Internet Marketing Services, eCommerce Services, Data and Content Services and Identity and Security Management. StarVest combines a sophisticated investment background with the experience to foresee opportunities for both its portfolio companies and funding partners. More information about StarVest is available at the company’s Web site: www.starvestpartners.com.

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