New Partner at Milestone Venture Partners, Richard Dumler

New York, NY, March 05, '02 -- Milestone Venture Partners, a premier early-stage venture capital firm, today announced the addition of a new partner, Richard J. Dumler, a 30-year veteran of venture capital who will help select and support investees, and raise capital.

Mr. Dumler was, most recently, a General Partner at Lambda Funds and Bessemer Venture Partners. He began his career as Director of New Ventures for Sears Roebuck and Managing Director of the Venture Capital Division of Allstate Insurance. He has, of late, been active as a private investor in several new ventures, and he remains a board member of four companies.

Edwin Goodman, Co-Founder and General Partner of Milestone Venture Partners, said, "We have worked with Richard Dumler on various co-investments and other matters over many years. He is a true professional and a leader in our field who will greatly strengthen our firm."

Todd Pietri, also a Co-Founder and General Partner of the firm, added, “Richard has a long track record of selecting the best investees, on one hand, and attracting capital on the other hand. We welcome him wholeheartedly.“

Mr. Dumler holds an MBA from University of Michigan and a BS in Economics from Georgetown University.

Milestone Venture Partners invests in early-stage, enterprise information
technology companies in the New York City Metro area. Its fund, Milestone Venture Partners II, will remain open to additional investors for a few more months. Current investors include wealthy individuals, family wealth management firms, General Partners of prominent LBO (leverage buyout) firms, CEOs and professional asset managers. The investment for each individual or firm ranges from $100,000 to $1,000,000.

Prior to the Milestone Venture Partners II fund, the Milestone Venture
Partners I fund invested in 15 early-stage firms including CarParts Technologies, PlusFunds.com, OuterForce Systems, Content Directions and Cosential.

Ed Goodman and Todd Pietri co-founded Milestone Venture Partners in 1999, and both have extensive experience in equity investing and raising capital.

Mr. Goodman led the U.S. venture capital group of Hambros Bank for 17 years, when the firm invested profitably in Allied Waste, Corporate Software, J. Peterman Company, Komag, PCA International, Petsmart, RASNA Corporation, Solectron, Staples, Telematics and Veeco Instruments, among others. Prior to that, Mr. Goodman worked for seven years at Apax Partners (formerly, Patricof & Co).

Prior to joining Milestone, Mr. Pietri co-founded the technology investment banking group at Legacy Securities and headed the consulting and sales organizations at CompuSystems, an enterprise resource-planning software company.

For more information, call Edwin Goodman or Todd Pietri at 212-223-7400, or write Milestone Venture Partners, 551 Madison Avenue, 7th Floor, New York, NY 10022.

About | Approach | Management Team | Advisory Board | Portfolio | Firm News | Contact

551 Madison Avenue, 7th Floor, New York, NY 10022 V: [212] 223 7400 F: [212] 223 0315