We hope you had a great 2005 and are looking forward to 2006 as much as we are! The venture capital investment climate continues to be favorable, the acquisition environment remains strong, and attractive investment opportunities abound.

Outlook maintained a busy pace in the second half of 2005, investing in three exciting private companies: GraniteEdge (network security), Clairmail (mobile infrastructure), and Lasso Logic (business continuity). All three of these companies have strong/talented management teams, operate in large and growing markets, and have unique, compelling technology - the ingredients of success! In December, Lasso Logic was acquired just four months after our investment in a strategically and financially compelling transaction. It was a true win for management, employees, and the investors. More information on these three companies, as well as recent news about the other companies in our portfolio is in this newsletter.

In 2006 we expect to continue to actively source and execute investments in compelling private companies. As the two primary articles in this newsletter discuss in detail, we continue to see great promise and pursue investments in areas such as Web 2.0, solutions for small-and medium size businesses (SMBs), mobile infrastructure/applications, and drivers of convergence. These sectors are just a few of the IT categories that will be full of innovation and promising investment opportunities in 2006. We are excited by the potential this new year holds!

The Outlook Ventures Team
January 2006

The Wave Front:
Web 2.0 Disruption to Traditional Media

The Consumer Internet has been a focus area for Outlook Ventures since our inception in 1996. Today, Outlook remains active in Consumer Internet, investing in disruptive companies that are emerging in Web 2.0, such as LoyaltyLab. In this article, Outlook Managing Director Randy Haykin discusses the difficulties Web 2.0 technologies are creating for traditional media.
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New Investments: Lasso Logic, GraniteEdge, Clairmail
Recent investments made by Outlook Ventures.
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Business Trends 2006: Outlook Venture’s Perspective
Outlook Ventures shares their perspective on what business and technology trends will lead the way for successful companies in the new year.
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News from the Portfolio
Selected press announcements, news, articles or reviews that feature Outlook Ventures or our portfolio companies.
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