Updata Partners Joined by James Socas As General Partner

A leading growth-stage venture capital firm focused in the information technology industry, Updata Partners, today announced that former Senior Vice President and Head of Corporate Development at Symantec Corporation, James Socas, has joined the firm as a General Partner based in the Reston, Virginia office. With more than 15 years of experience in the technology field as a senior executive, investment banker and entrepreneur, Mr. Socas is an industry veteran. With particular emphasis on information services, enterprise software, and Internet companies, he will focus on a broad range of information technology investments.

Mr. Socas led corporate development at the world's fourth largest independent software company, Symantec, where he was responsible for venture investments, mergers and acquisitions, and strategic alliances. He conceived, negotiated and executed Symantec's international joint venture with one of China's leading technology companies, Huawei Technologies, and drove the successful acquisition of systems management leader Altiris. Mr. Socas was, prior to Symantec, a Managing Director and investment banker at Credit Suisse First Boston and Donaldson, Lufkin Jenrette where he advised many leading software companies in their strategic initiatives.

Newly appointed Updata General Partner, Mr. Socas, said: "Updata Partners is recognized as one of the most dynamic and respected venture capital firms in the industry". "I am thrilled to work alongside the current team of world class partners to continue that record of success and drive the next stage of growth for the firm, its investors and our portfolio companies."

James, in addition to his industry experience, has also worked on the staff of the U.S. Senate Banking Committee and currently is appointed to serve on the State of Virginia's Board of Corrections. Mr. Socas earned an M.B.A. from Harvard University and a B.A. from the University of Virginia.