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Walter T. G. Lee, General Partner of the Silicon Valley venture capital firm AltoTech Ventures, Inc. has been named to the Board of Directors of Pure Matrix, Inc. (www.purematrix.com), effective immediately. The appointment of Mr. Lee was announced today by Douglas W. Holbrook, Senior Vice President of Pure Matrix, Inc., a developer of next-generation products and services for the Mobile Internet.
Mr. Lee, an expert in the financing of start-up companies in the high technology field, is among the co-founders of AltoTech Ventures based in Menlo Park, California. Under his direction, AltoTech Ventures last month led the successful financing of Pure Matrix’s $2.7 million Series B round of investment. Other investors included individuals affiliated with Pure Matrix.
In announcing this Board appointment, Mr. Holbrook said: "Walter Lee brings more than two decades of successful venture capital and banking experience to the Pure Matrix Board. His financial acumen, extensive industry contacts and superb track record with technology entrepreneurs will be tremendous assets to all our investors and ultimately to the Pure Matrix customers who will benefit from our advanced tools soon to be available for the Mobile Internet."
Mr. Lee added: "With its next-generation product line soon to be introduced and its team of talented executives, Pure Matrix stands ready to be a driving force in the future growth for the Mobile Internet. As General Partner of AltoTech Ventures and now also as a Pure Matrix board member, I look forward to working with this innovative company as it spurs the growth of customized content, advertising, commerce and other mobile services."
Prior to launching AltoTech Ventures (www.altotechventures.com) in 2000, Mr. Lee served as Managing Director for Venture Investments at W. I. Harper. His W. I. Harper portfolio of over 30 companies in the United States and abroad more than doubled in value in less than two years. Earlier in his career, Mr. Lee was Founder, Vice President and Manager of General Bank’s High Technology Division. He also was Founder of the Pacific Rim Practice of the Technology Division of Silicon Valley Bank. Mr. Lee received a BA degree in Economics from Stanford University.
About Pure Matrix: Pure Matrix was founded in 2000 to develop next-generation products and services that move beyond the current first-generation constraints of the “fixed Internet.” These products and services are designed to enable the industry to better handle large numbers of mobile communities and location-based services, and to properly address individual customer preferences and demographics.
Pure Matrix is based in Boulder, Colorado, and has begun regional sales operations in North America and Europe. Asian sales efforts will follow. Having successfully completed a recent $2.7 million round of financing, the company anticipates another larger round later this year to support full commercial deployment of its products and services. In addition, Pure Matrix is seeking alliances and partnerships with leading companies involved in the applications, distribution, technology and content sectors of the Mobile Internet industry. Pure Matrix is a member of the industry’s WAP (Wireless Application Protocol) Forum.
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