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Management

Board of Directors

Jon is truly passionate about early stage companies and founded True because he saw a gap in the market for experienced VC funding for the earliest stage companies.

His long history with startups began in 1986 when he founded his first company, Mountain Bike Outfitters, Inc. Over the next several years, he would go on to co-found Chemdex Corporation with David Perry, now NexPrise Corporation (NASDAQ: NXPS), and Greenwich LLC, a streaming music company, which was acquired by iCast.

At Summit Partners, Jon started his venture career as an associate focused on growth stage investments in the software industry. Jon also met and worked closely with True co-founder Phil Black at Summit. Jon then joined AOL's Greenhouse, the venture capital/incubator for AOL.

With the Internet just beginning, Jon jumped in, joining CMGi's @Ventures group in 1996. @Ventures was the world's first internet-only venture firm and, at the time, managed a whopping $25 million fund. The Internet grew rapidly, and @Ventures grew along with it. By 2001, Jon was a Managing Partner, and the firm managed over $3 billion. His @Ventures deals include Critical Path (NASDAQ "CPTH"), Gamers.com, Hotlinks, Onelist/eGroups (acquired by Yahoo), Promedix (acquired by Ventro – NASDAQ "VNTR"), and Ancestry.com (NASDAQ "ACOM").

Jon's venture capital career spans 17 years and includes consistent early stage success. Before founding True, he was a Managing Director at Globespan, where he served on the boards of Copan Systems, FilmLoop, Glu Mobile (fka Sorrent), Ingrian Networks, Next Medium Networks, Nominum Corp., Plaxo, Sigma Dynamics, and Vazu.

Jon has a B.A. in Government from Dartmouth College and earned an M.B.A. with distinction from Harvard Business School.

Ammar Hanafi

Ammar H. Hanafi joined Alloy Ventures as a general partner in 2005. At Alloy, he focuses on investments in communications and IT infrastructure, as well as internet-enabled consumer and enterprise applications and services. Ammar has over a decade of financial and operational management experience in the communications and technology industry. He previously served as vice president of new business ventures at Cisco Systems, where he led new product efforts in the enterprise datacenter market. From 2000 to 2002, he was vice president of corporate business development, and in that capacity, he was responsible for Cisco’s acquisitions, acquisition integration, investment, and joint venture activity on a global basis. During Ammar’s tenure at Cisco, he helped the company complete over 100 investment and M&A transactions, including 50 successful acquisitions and over $750 million in venture capital investments. Prior to Cisco, Ammar held leadership positions at PanAmSat Corp., a global satellite services provider, and the investment banking firms of Morgan Stanley and Donaldson, Lufkin & Jenrette. In addition to Infineta Systems, Ammar serves on the board of directors of 3Leaf Systems, YouSENDit, Retrevo, Mavenir Systems, Cortina Systems, GigaOM, Teleplace, and Moxsie. Ammar also serves on the board of the non-profits: Silicon Valley Education Foundation and SF Camerawork. Ammar received a BS in Applied and Engineering Physics from Cornell University (1988) and an MBA from Stanford University (1995).