ABS Ventures is a leading independent, institutional venture capital firm with offices in Baltimore, Northern Virginia, San Francisco and New York. The Firm has invested in over 100 companies since 1982, generally as a lead. ABS makes both early-stage and growth capital investments throughout the United States in telecommunications, software, Internet and health-care companies. We have made numerous investments in each of our targeted areas over time, including Sun Microsystems, Telogy Networks, Wellfleet Communications, Cascade Communications, Daleen Technologies, Lifeminders, Transmeta, and Align Technology. We add significant value to our companies via senior management recruiting, new customer contacts, strategic decision making and additional financings. Historically, nearly half of our portfolio companies have become publicly traded companies, and 35% have been merged or acquired. You will find that our relationships with our portfolio management teams are excellent, and is demonstrated by our entrepreneurs' coming back to ABS Ventures to fund their next success story. ABS has invested five separate funds, and we are currently deploying approximately $150 million per year in emerging technology companies. Our sole capital partner is Deutsche Banc Alex. Brown, one of the world's largest financial institutions and most successful technology investment banks. Our typical investment size is between $3 and $15 million. While we invest across all stages of a company's development, historically we have concentrated on either the first round of institutionalized funding or on companies that already have an outstanding CEO, growing revenues and customers who can serve as references.