Updata Partners' Conor Mullett named NJTC Financier of the Year
Edison, NJ -- June 19, 2007 -- Updata Partners, a leading information technology-focused venture capital firm with over $400 million in funds under management, announced today that Conor Mullett , a co-founder and General Partner of Updata Partners , was awarded the Financier of the Year Award by the New Jersey Tech Council (NJTC) at its annual CFO awards. The Financier of the Year is presented to a venture capitalist, investment merchant or commercial banker who has contributed to the economic development of New Jersey's technology community.
Mullett met and exceeded a very detailed criterion that included attracting new capital into New Jersey, investing in or loaning capital to local technology companies and being recognized for accomplishments in community education and leadership. Mullett joins a prestigious group of award-winning financiers, including last year's winner, New Jersey State Treasurer, John McCormac.
"Conor has played an integral role in helping the New Jersey technology community grow and prosper," said Barry Goldsmith, General Partner at Updata Partners. "Receiving this award from the NJTC is a great honor for both Conor and Updata Partners. We are all very proud of everything that Conor has accomplished and know that he will continue to provide leadership and make significant contributions in the future."
Mullett, a co-founder of Updata Partners, is a founding board member of AngelVine, a consortium of venture and angel investors focused on funding early stage businesses in New Jersey, New York, Connecticut, Delaware and Pennsylvania. Mullett has served on numerous private corporate boards and is currently on the board of Updata portfolio companies Netkey, Management Dynamics, ContextWeb, HotGigs and OrderMotion.
In recent years New Jersey has had a steady stream of venture capital investment activity. According to Thomson VentureXpert™, New Jersey software and internet-related companies were involved in 55 venture capital deals totaling $443.8 million in 2006.
Recent Updata Partners' investments in New Jersey include, Red Vision Systems, CMWare, Management Dynamics (MDI) and The GETPAID Corporation.
Red Vision is an information services supplier of real estate information to title insurance providers, mortgage underwriters, and foreclosure attorneys, headquartered in Parsippany, NJ.
CMWare, located in Plainsboro, NJ, has been an Updata Partners' portfolio company since 2006. The company is a leading provider of PC place-shifting solutions that create value-added data services revenue streams and enhance subscriber loyalty for mobile carriers.
Updata Partners made its initial investment in MDI in 2005. MDI offers transportation management services to many of the world's largest ocean-based carriers, shippers and non-vessel operators. MDI's corporate headquarters is in East Rutherford, NJ.
Updata Partners first invested in GETPAID, located in Parsippany, NJ, in August 2003. Prior to being acquired by Sungard in 2005, GETPAID was a leading provider of accounts receivable (AR) and collections management software for working capital optimization.
About Updata Partners
Based in Reston, Virginia and Edison, New Jersey, Updata Partners is a leading venture capital firm that invests in growth stage information technology companies with innovative intellectual property enabling market-leading products and services. Led by an investment team averaging more than 20 years of operational and private equity experience in the technology industry, we seek investments where the combination of our financial backing and operating expertise will accelerate growth. With over $400 million under management, the firm also selectively provides recapitalization and management buyout financing. For more information, visit www.updatapartners.com.
Data provided by Thomson Financial VentureXpert™. All company or product names listed herein are trademarks or registered marks of the respective owners.
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