Gorman Brings 20 Years Financial and Operational Experience To Venture Capital Firm

Research Triangle Park, N.C., August 25, 2004 – The Aurora Funds, one of the leading early stage venture capital firms in the Southeast, today announced that it has named Mike Gorman as its new Chief Financial Officer. Gorman has 20 years of financial, operational and business experience, including acquisitions, auditing, taxes, financial reporting, financial analysis, information systems and general management at several technology companies.

“Mike’s financial credentials and solid business background will enable him to make immediate contributions to The Aurora Funds’ team and our portfolio companies,” said Scott Albert, Managing General Partner of The Aurora Funds.  “He is well respected in the local community, with a proven track record of improving the operations and financial performance of the companies in which he has been involved.”

Gorman’s professional career includes financial executive roles at a number of RTP area companies including Global Knowledge Network, Inc., Accton Americas Management Group, AFAC (a division of Kidde International), SunTechnologies Group, Inc., and Datalogic Optic Electronics Inc. He also spent six years at Ernst & Young as a manager in the entrepreneurial services division in Raleigh and Cleveland, Ohio. Gorman is a Certified Public Accountant and a Certified Management Accountant, with a B.S. in Accounting from Canisius College in Buffalo, New York.

“It is an exciting opportunity for me to be part of a local venture capital firm that I have followed and respected for a number of years,” said Gorman. “I look forward to working with an outstanding team in a truly entrepreneurial environment once again.”

About The Aurora Funds
Founded in 1994, The Aurora Funds is a venture capital firm that provides capital, connections and strategic help to entrepreneurs with early stage life science and information technology companies. Aurora’s investment team members have over 50 years of combined venture capital experience and over 50 years of high technology operational experience. The firm raised its first fund in 1995 and most recently closed its fourth fund of $85 million, bringing the total capital under management to over $155 million. 
 
Aurora typically invests in seed and first round financing opportunities. The firm’s initial investment size ranges from $50,000 in a seed investment to as much as $2 million in a first round financing. The firm has the capacity to invest between $4 million and $7 million throughout the life cycle of an investment. More information is available at www.aurorafunds.com.

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Contact:
Shawn Ramsey-Kroboth
SRK Communications (for The Aurora Funds)
919-359-0947 or 919-621-0737
shawn@srkcommunications.com

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