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SANTA
CLARA, CA June 07, 2000
Siemens Venture Capital, LLC, (SVC) today announced the appointment
of Naveed Khan as President and CEO.
Naveed Khan joins
SVC from Infineon Ventures, where he headed the U.S. semiconductor
investment organization. Prior to joining the Infineon Ventures
group, Naveed spent 18 years in management, marketing, business
development and software development in the microelectronics
Industry.
"Naveed
brings with him extensive market knowledge and sound experience
in Information technologies ventures. He will ensure the future
growth of SVC's activities in the U.S., especially in Silicon
Valley," said Dirk Lupberger, CEO and President of SVC, GmbH.
"SVC is in unique position to provide business and technology
impetus to different Siemens businesses," said Naveed Khan.
"SVC under the leadership of Dirk has established an extensive
network of contacts in Venture and Investment banking activities
and now it is up to the investment managers on how we bring
these relationships to impact Siemens growth."
"Our
energies will be focused on high- growth areas of network
infrastructure, multimedia communication, wireless, and e-
business," said Khan.
"SVC will also be aggressively
looking at companies in industrial automation, medical engineering
and automotive technologies for investments."
The charter of SVC is to identify innovative start-up companies
and technologies, fund them, and bring them to the attention
of Siemens operating business units. These start-up companies
can then benefit from the extensive Siemens network that can
provide new channels for product and business development.
SVC is the umbrella organization of all Siemens venture activities.
Siemens additionally has industry investment programs that
include Mustang Ventures, the venture capital group of Siemens
Information and Communication Networks, and Infineon Ventures,
the venture capital group of Infineon Technologies.
Since its inception in 1999, Siemens Venture Capital has made
investments of more $130 million in start-up companies and
venture capital funds. Siemens Venture Capital, LLC, is a
subsidiary of Siemens Venture Capital GmbH based in Munich,
Germany.
SVC is present in Silicon Valley and Boston as well as Israel.
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