Press Release

Vencore Capital Secures $28 Million in Expansion Financing

LAKE OSWEGO, Ore., April 21, 2006 – Vencore Capital (formerly known as VenCore Solutions), a leading provider of venture debt financing solutions to early stage, emerging-growth companies, today announced that the company has closed on a $28 million capital commitment from Laminar Direct Capital L.P., which is a member of the D. E. Shaw group, a leading specialized investment and technology development firm with approximately $20 billion in aggregate capital.

The expansion capital will provide Vencore Capital with added capacity as it continues to expand its nationwide effort to provide financing to promising start-up and later-stage growth companies.

"There are several venture financing firms that focus primarily on larger, venture-backed companies," said Len Ludwig, CEO of Vencore Capital. Vencore, however, has established itself as a leader in working with companies backed by angel investors and traditional venture capital firms. This new capital will allow us to bolster our growth efforts in this emerging financing niche."

"All of us at Vencore are energized by funding emerging-growth companies," said Art Hiemstra, president of Vencore Capital. "Laminar's support will enable us to continue to expand our efforts in key markets throughout the U.S. We are very pleased that Laminar has joined us in recognizing the importance of this type of financing and its contribution to the success of innovative and forward-looking enterprises."

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 $50 million in venture debt capital to more than 100 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, Denver, Los Angeles, San Francisco, Silicon Valley, Portland, and Seattle. The company is privately held. For more information, visit, or call 503.675.3121.

About Laminar Direct Capital

Laminar Direct Capital L.P. is a member of the D. E. Shaw group, a specialized investment and technology development firm whose activities center on various aspects of the intersection between technology and finance. With approximately $20 billion in aggregate capital, the D. E. Shaw group is a recognized leader in the alternative investment management arena and was recently named "Best Alternative Investment House" by Euromoney magazine.


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