Press Release

Vencore Capital Looks to the East

LAKE OSWEGO, Ore., June 30, 2007 – Vencore Capital (formerly known as VenCore Solutions), a leading provider of venture debt financing solutions to early stage, emerging-growth companies, today announced that it has recently opened new offices in Philadelphia, Penn., and Charlottesville, Va. bringing a new source of capital to these fast-growing regions.


The Philadelphia office, which serves New York, Delaware, New Jersey, and Pennsylvania, is led by Joe Flynn. Joe is a veteran of Silicon Valley Bank and Merrill Lynch and brings to Vencore strong connections in his region. He joined Vencore from the Merrill Lynch Global group, where as a vice president of middle-market finance and business financial services he was responsible for cash flow, asset-based, and mezzanine financing. Earlier, Joe was a vice president in the Technology/Life Science division of Silicon Valley Bank, where he managed all aspects of equipment leasing arrangements and working capital loans. Joe has a B.S. degree in business administration from Rider University and an MBA from LaSalle University.

Mid-Atlantic and Southeast

Based in Charlottesville, Va., Beth Roireau manages the Mid-Atlantic and Southeast regions. Beth has more than 18 years of experience in financing technology, life sciences, and knowledge-based industry companies. She joined Vencore from Comerica Bank where, as a senior vice president, she assisted technology companies in supplementing their venture capital and extending their development runways. She has also held senior management positions at City National Bank, Silicon Valley Bank, and the Bank of Boston. Beth has a B.S. degree in business administration from the University of Miami and an MBA from the University of Southern California.

"I've worked with both Joe and Beth earlier in my career," said Art Hiemstra, president of Vencore Capital. "It's great to be collaborating with them again. They were terrific leaders at Silicon Valley Bank, and their customer-centric approach will help Vencore continue to differentiate itself from other venture debt providers. It's my pleasure to welcome them to the company."

About Vencore Capital

Vencore Capital is a leading provider of venture debt financing solutions to early-stage, emerging-growth companies. Since its founding in October, 2002, the company has provided more than $90 million in venture debt capital to more than 200 angel- and venture capital-backed companies. Approximately 70% of Vencore's clients are start-up technology firms backed by founders and angel investors, while the rest are later-stage companies backed by traditional venture capital firms.

Vencore operates nationwide with sales offices in Boston, Philadelphia, Charlottesville, Denver, Los Angeles, San Francisco, Silicon Valley, Portland, and Seattle. The company is privately held. For more information, visit, or call 503.675.3121.


Media Contact:
Ki Seh Pond
(503) 675-3121