SOURCE: Austin Ventures; Lion Street

Austin Ventures; Lion Street

March 17, 2011 14:14 ET

Lion Street Announces Additions to Management Team, Producer-Owner Base Expansion and New Offices

AUSTIN, TX--(Marketwire - March 17, 2011) - An elite group of life insurance producer-owners has begun to take shape as Lion Street adds subscribers and builds infrastructure. The agent-owned distribution model has been validated as 18 founding firms representing 34 producers have made the decision to become Lion Street owners.

"We have a compelling story about creating real value for the industry's finest life insurance practitioners. Our founding owners are the best of the best," according to Lion Street founder Bob Carter.

Lion Street has added three industry leaders to their management structure: Bill Thurston, EVP of Business Development and former Managing Partner of Velocity Consulting Group, LLC; Trent Davis, VP of Product Management and former head of sales for Sun Life Financial's Private Client Group; and Pat Allen, Underwriting Consultant with 40 years of experience at insurance companies and agencies. Bill & Trent will join the team at their new location: 300 West 6th Street, Suite 1830, Austin, Texas.

The inaugural Lion Street meeting was held February 15-17, 2011, in Las Colinas, Texas. Producers at the well-attended program shared their best ideas, heard experts on estate planning and other products, and collaborated on company initiatives. Senior executives from Transamerica, MetLife, Pacific Life and ING were on hand to meet producers.

About Lion Street
Lion Street, Inc. is a privately held financial services distribution company based in Austin, TX. Lion Street provides elite independent life insurance producers access to the financial products, intellectual capital, and specialized resources they need to meet the sophisticated needs of their high net worth and corporate clients. Founded by industry veteran Bob Carter, Lion Street received an initial investment from Austin Ventures of $5 million with $45 million of additional commitment. To learn more about Lion Street, visit www.lionstreet.com.

About Austin Ventures
Austin Ventures ("AV") has worked with talented entrepreneurs to build valuable companies for over twenty-five years. With $3.9 billion under management, AV is the most active venture capital and growth equity firm in Texas and one of the most established in the nation. With an investment focus on business services and supply chain, financial services, new media, Internet and information services, software, and Texas special situations, AV invests at all stages of company development. Visit austinventures.com for more information.

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