BPV Adds Two Portfolio Companies

ST. PETERSBURG, FL, November 29, 2009 - Ballast Point Ventures is pleased to announce two new growth equity investments.   BPV recently led a $7.5 million financing in Horizon Data Center Solutions with a $5 million growth equity investment. HDCS provides data center co-location services and a suite of high touch managed services primarily to small and mid-sized businesses. Horizon currently operates two Tier III data center locations in Dallas, TX. Horizon is led by CEO Lance Smith, the former Managing Director of North American Data Center Operations for Atos Origin, with over 13 years of experience in the industry. BPV’s investment will be used to fund Horizon’s data center expansion strategy in both current and new markets.

Ballast Point Ventures also recently co-led a $20 million growth equity financing in Tower Cloud that included fellow new investors ITC Partners, Knology, Inc. (a former BPV portfolio company), The Burton Partnership, Kinetic Ventures and Noro-Moseley Partners, as well as existing investors Sutter Hill Ventures and El Dorado Ventures. Tower Cloud, based in St. Petersburg, FL, is a leading provider of mobile backhaul services to wireless carriers nationally, with a particular emphasis on the Southeast. Tower Cloud is led by CEO Ron Mudry, the former CEO of Progress Telecom and a 25 year industry veteran. BPV’s investment will support Tower Cloud’s expansion in the Atlanta market and other metropolitan areas in the Southeast.

"We are excited to partner with the Horizon and Tower Cloud teams,” said Paul Johan, BPV Partner. “Both companies are focused in rapidly growing industry segments, and we look forward to leveraging our experience and network to help fuel substantial continued growth.”

About Ballast Point Ventures

Ballast Point Ventures is a venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast and Texas. The BPV partners have many years of experience investing in and supporting over 75 high-growth companies in the healthcare, business services, communications, technology, financial services and consumer industries. Ballast Point Ventures has $200 million under management and seeks to make minority equity investments ranging in size from $2 million to $10 million.