SOURCE: Blue Chip Venture Company

January 24, 2006 15:37 ET

Blue Chip Venture Company Names McCleary as Director

Mid-Atlantic Office Established in Maryland

CINCINNATI, OH and ANNAPOLIS, MD -- (MARKET WIRE) -- January 24, 2006 -- Blue Chip Venture Company today announced the appointment of Christopher McCleary as a Director and a newly established office in Annapolis to better serve the Mid-Atlantic region including Philadelphia, Baltimore, the District of Columbia, the BWI Corridor and Virginia.

"Building on our experience with current and past portfolio companies including Advertising.com, HealthScribe, IXI, USi, Digex and Evergreen made this expansion a natural fit for us," commented Jack Wyant, Founder and Managing Director of Blue Chip.

"Blue Chip Venture Company is a fine organization and it is great to see its enhanced focus on the region," added Scott Ferber, former CEO of Advertising.com.

Blue Chip will be evaluating investment opportunities for companies focused on information technology, healthcare and media and marketing services in the seed, early and growth stages of development as the lead or participating investor leveraging the experience gained investing in more than 125 companies over the last 15 years.

Blue Chip has enlisted local entrepreneur Christopher McCleary to establish its Mid-Atlantic presence. Mr. McCleary recently founded, launched and sold Evergreen Assurance, Inc. Evergreen developed an award winning technology service offering for computer disaster recovery and secured customers including IMF, Forbes, Dickstein-Shapiro, McGraw-Hill, UnderArmour and others.

Prior to founding Evergreen, Mr. McCleary founded USinternetworking, Inc. where he served as Chairman of the Board of Directors until August 2001 and served as CEO until July 2000. Mr. McCleary formed USi to deliver enhanced web-enabled business process functionality to enterprise customers worldwide through a global network of mission-critical enterprise data centers in North America, Europe and Asia.

Before launching USi, Mr. McCleary was Chairman and Chief Executive Officer of DIGEX, Inc. DIGEX grew from 60 to 600 employees, completed an initial public offering, and merged into Intermedia Communications, Inc. in less than 20 months with Mr. McCleary as CEO. Blue Chip was an investor in these three companies and Jack Wyant served as a director with Mr. McCleary.

About Blue Chip Venture Company

Blue Chip Venture Company is a venture capital firm providing capital and business-building assistance to entrepreneurs seeking to build growth companies. Based in Cincinnati and with offices in Annapolis, Dayton, Indianapolis and Stamford, Blue Chip has over $600 million of capital under management and has invested in 125 companies throughout the United States and Canada. Areas of focus include healthcare, information technology and media and marketing services. Visit www.bcvc.com.

Contact Information

  • Contact

    John H. Wyant
    Managing Director
    Blue Chip Venture Company
    1100 Chiquita Center
    250 East 5th Street
    Cincinnati, OH 45202
    (513) 723-2300

    Christopher R. McCleary
    Director
    Blue Chip Venture Company
    301 4th Street
    Annapolis, MD 21403
    (410) 571-8272