April 12, 2010, Herzelia, Israel - Carmel Ventures, a leading Israeli venture capital firm, announced today that Gilad de Vries has been named Vice President Digital Media. Promoted from within the firm, Gilad served as Principal in the fund for the last three years.

The new position of VP Digital Media in Carmel Ventures will enable Carmel to continuously expand its digital media ecosystem, and provide extended support in this domain to the portfolio companies.

“Gilad joined Carmel in November 2006 as Principal, and has greatly contributed to building Carmel’s digital media ecosystem.” said Rina Shainski, General Partner. “As a part of Carmel’s strong focus on adding value, we are certain that Gilad, in his new role, will strengthen our companies’ access to leading players in the digital media space”.

Prior to joining Carmel, Gilad spent four years with Comverse Technology (Nasdaq: CMVT) where he served as Senior Director of Marketing and Product Management. Before that, Gilad served as Director of Operations and R&D at Odigo, a leading start-up in the Instant Messaging and Presence domain, acquired by Comverse.

About Carmel Ventures
With over $600 million currently under management, several successful exits, and a growing portfolio of promising start-ups, Carmel is among Israel’s top-tier venture capital funds. Carmel’s investments are focused primarily on early stage companies in the fields of Software, Communications, Internet, Digital Media, Semiconductors, and Consumer Electronics. Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel provides significant capital and active, hands-on support through the growth cycle of its portfolio companies and is recognized as a true company building fund in Israel. Carmel, headquartered in Herzliya, Israel enjoys a worldwide network of industry, strategic and investment resources.
Carmel is an affiliate of the Viola Group, a leading innovative private equity investment group with $2B under management focused on technology-based investment opportunities in Israel.
For more information visit: www.carmelventures.com