Menlo Park, CA -- September 23, 1999 -- The new, high-profile venture capital firm codenamed "Project T-Rex" today disclosed its formal name -- Redpoint Ventures. "Redpoint," a climbing term that generally refers to leading difficult vertical climbs without falling, represents the firm's aggressive commitment to backing successful Internet startups through leadership, teamwork, and perseverance.

"We want to invest in companies that will provide creative, new solutions for the Internet economy and change the face of the industry," said Tom Dyal, the Redpoint partner who drove the naming effort. "We'll search for companies willing to rise to the challenge and take risks to reach their goals. The term 'redpoint' appropriately reflects this vision."

Redpoint means "to climb a route from the ground up without falling or resting on gear. It implies that there were previous inspections and practice sessions on the route before the initial success," according to Rock Climbing, a Trailside Guide, published by WW Norton.

Redpoint Ventures was announced last month when Brentwood Venture Capital and Institutional Venture Partners (IVP) combined to form two new venture capital firms: Redpoint will focus on information technology investments and the other will focus exclusively on health care. Redpoint partners include Jeff Brody, Tom Dyal, Tim Haley, Brad Jones, John Walecka, and Geoff Yang, all of whom have successful industry track records.

Specifically, Redpoint will focus on next-generation broadband Internet opportunities and digital TV, including infrastructure, e-commerce and the new digital media industry. The firm made its first announced investment in Reflect.com, the web-based, customized beauty business launched by Procter & Gamble Company and IVP. Reflect.com, announced September 13, represents the first time a leading 'brick and mortar" company has launched an entirely new brand available only on the Internet.

Redpoint was formed to leverage the fundamental business shifts enabled by the Internet and to focus the partners' expertise into one entity that would spell success for the firm and its portfolio companies. By bringing together six experienced, dynamic partners to focus on key Internet markets, Redpoint aims to be the leader and driving force in the industry. For more information, visit Redpoint's Web site at: www.redpointventures.com.

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