Early Stage Venture Capital Firm Also Announces Staff Promotions

Research Triangle Park, NC (May 12, 2003) – The Aurora Funds, one of the leading early stage venture capital firms in the Southeast, today announced Greg Bohlen as the firm’s new Chief Financial Officer. Bohlen brings more than twenty years of financial and investment experience to Aurora. The Aurora Funds also announced that it has promoted Doug Gooding and Bonnie McCullough, two members of its team. These announcements follow on the heels of the recent closing of an $85 million fund, Aurora’s fourth fund and the 2nd largest fund closed during the last 16 months in the Southeastern US. 

Bohlen joins the Aurora team after spending two years as Director of the Private Equity Coverage Group at UBS Warburg Investment Banking. In this role, he led business development efforts, including mergers and acquisitions, for private equity firms in the Midwest, Southeast and Mid Atlantic. He also developed marketing and sales strategies, worked on closing private equity placement assignments and managed relationships with more than 100 venture capital firms in the Southeast, Mid Atlantic and Midwest. His professional career also encompasses a number of other leading financial institutions including Paine Webber, J.C. Bradford and Merrill Lynch. 
 
“Greg’s impressive financial background and extensive experience with the venture capital community position him as an ideal addition the Aurora team,” said Scott Albert, Managing General Partner of The Aurora Funds.  “His proven track record in business development and M&A should also prove to be a valuable contribution to our portfolio companies.”

Bohlen’s addition is not the only indication of growth at the venture capital firm. Doug Gooding has also been promoted from Associate to Principal, on the life science investment side of Aurora. On the operational side, Bonnie McCullough has been promoted from Controller to Vice President of Finance.

Bohlen, Gooding and McCullough are part of an experienced team at Aurora, built by founders and Managing General Partners Scott Albert and Jeff Clark. The team also includes General Partner Rich Brown, Associate Peter Fair and Office Manager Katie Felix.

“We have been fortunate enough to raise a successful fund and to continue adding to our team and our portfolio companies,” said Albert. “We are excited about the opportunity for Aurora going forward.”

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 35 years of combined venture capital experience and over 40 years of high technology operational experience. The firm raised its first fund in 1995 and 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 $2.0 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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