SAN FRANCISCO, Oct. 7 /PRNewswire/ -- Net Value Holdings Inc. (OTC Bulletin Board: NETV), today announced the appointment of Paul H. Stephens to its Board of Advisors. Mr. Stephens was a founder, managing director and chief investment officer of the former Robertson Stephens & Company and currently serves as a managing director of RS Investment Management, which was purchased from the Bank of America on February 28, 1999. The RS Orphan Fund, LP and The RS Orphan Offshore Fund, LP, both managed by Mr. Stephens, invested a total of $2 million in Net Value Holdings recently completed private placement offering. According to Andrew Panzo, President and Chief Executive Officer of Net Value Holdings, "We are very pleased to welcome Paul and his three decades of financial experience to our Board of Advisors. His ability to identify and execute deals, especially in relation to technology companies, has won him as much respect in the Silicon Valley as it has on Wall Street. Specifically, Paul's experience identifying undiscovered technology-oriented growth companies will be a tremendous asset to Net Value Holdings as we continue to expand our portfolio." Mr. Stephens commented, "Net Value Holdings' management team and directors combine an extensive array of Wall Street and Silicon Valley talent with leading entrepreneurs who have started, grown, and sold successful Internet businesses. The broad skill sets this team brings to its portfolio companies truly position Net Value Holdings as a new breed of 'venture catalyst.' The Company's hands-on approach to its investments and commitment to taking its portfolio companies to the next level, make Net Value Holdings an attractive funding source for early-stage Internet companies." Following nine years in institutional sales (1969-78) with Smith Barney & Company and Robertson, Colman, Siebel & Weisel, Mr. Stephens joined Sandy Robertson to found Robertson, Colman, Stephens & Woodman in 1978. The organization changed its name to Robertson Stephens & Company in 1989. Mr. Stephens led the firm's research and institutional sales effort in the late 1970's and early 1980's and then transitioned into its new business corporate finance department (1982-85). He then restructured the venture capital group, managing it until 1990 when he formed The Robertson Stephens Orphan Fund, a limited partnership focused on investing globally in undiscovered or neglected growth companies. In June 1993, Mr. Stephens launched The Contrarian Fund, a public mutual fund that also has both a global charter and the ability to hedge with short sales. He holds both Bachelors (1967) and Masters (1969) degrees in Business Administration from the Haas School of Business at U.C. Berkeley. Mr. Stephens will serve as a strategic advisor to a Net Value Holdings' management team consisting of Darr Aley, former VP of Business Development at Lycos; Lee Hansen, former Senior Vice President of Corporate Strategy and Development at Bank of America; and entrepreneurs Douglas Spink and Andrew Panzo. Barry Uphoff, a partner at Diamond Technology Partners, Inc. and Stephen George, a former Vice President at Goldman Sachs are directors of the Company. Net Value Holdings Inc. is an Internet business incubator primarily engaged in the conception and ongoing nurturing of the next wave of e-commerce businesses. Net Value Holdings' operating strategy is to develop its portfolio of partner companies into a collaborative network that leverages the Company's collective financial, strategic, and relationship capital. Founded in 1998, Net Value Holdings currently holds interests in four Internet businesses in various stages of development and is evaluating investments in several other companies. The Company has offices in San Francisco and Philadelphia. For additional information on Net Value Holdings Inc., visit the Company's web site at www.netvalueholdings.com . This release contains forward-looking statements regarding potential future events and developments affecting the business of Net Value Holdings Inc. These forward-looking statements involve unknown risks, uncertainties, or other factors not under the control of Net Value Holdings Inc., which may cause actual results, performance or achievements of the Company to be materially different from the future results, performance, achievements or other expectations expressed or implied by these forward-looking statements.
SOURCE Net Value Holdings, Inc.