January 2008

LAVA HOSTS 5th ANNUAL AWARDS DINNER AND HONORS IDEALAB’S BILL GROSS

Los Angeles, CA – January 18, 2008 – The Los Angeles Venture Association (LAVA) held its fifth annual awards dinner yesterday to recognize some of Southern California’s best growth companies and to present the Lifetime Achievement Award in Venture Capital to Idealab CEO Bill Gross. The awards dinner benefited the Pasadena Union Station Foundation and was held at the Luxe Summit Hotel Bel-Air in Los Angeles.

The award winners were:

Best Venture Financing in Biotechnology and Medical Devices:
Agensys is a private biotechnology company located in Santa Monica.

Best Venture Financing in Communications and Wireless:
Mobile Messenger is a leading global provider of technology and services for mobile content management and distribution.

Best Venture Financing in Software and Media:
Spot Runner develops technology solutions that revolutionize the way advertising is created, targeted, bought and sold. It focuses on automating many of the more inefficient aspects of the advertising process and creating turnkey ways for businesses of all sizes to access high quality creative and expert media planning and buying services.

Best Venture Financing in Clean Technology:
Ceres, Inc.is a leading developer of high-yielding energy crops that can be planted as feedstocks for cellulosic ethanol production.

Best M&A Exit:
Business.com is a leading business search engine, directory and pay-per-click advertising network.

Best IPO:
Entropic Communications is a leading fabless semiconductor company that designs, develops and markets system solutions that enable connected home entertainment.

The dinner also paid special tribute to Mr. Gross, a lifelong entrepreneur who has been developing groundbreaking technology companies and business leaders for over two decades.

"We are proud to acknowledge the area’s hottest venture financings, M&A exit, and IPO," said Leonard Lanzi, LAVA’s Executive Director. "We also felt it was our duty and honor to recognize the incredible achievements of Bill Gross, who has been a mentor and hero to many in the LAVA community. Plus, all of this benefits the Pasadena Union Station Foundation, so in the end everybody is a winner." he added.

About LAVA
The Los Angeles Venture Association is Southern California's premier forum for entrepreneurs, middle-market companies, venture capitalists, financial advisors, and other professional service providers. For over 20 years, LAVA's monthly breakfast meetings, annual Investment Capital Conference, and co-produced events have created an unprecedented platform for innovation and financing in Southern California. To learn more about LAVA, please visit www.lava.org.