New Partner Joins Celtic House Venture Partners

    OTTAWA, July 2 /CNW Telbec/ - Celtic House Venture Partners is pleased to
announce the appointment of Pierre-André Meunier as Partner effective July 2,
2008. Pierre-André will lead the firm's investment activities in the
Ottawa-Montreal region. Pierre-André's operational and investment experience
is complementary to that of the existing Celtic House team.
    Pierre-André said: "I'm excited to be joining the Celtic House
partnership. I believe that companies in Celtic House's target regions have
tremendous innovation and business potential. With its expertise, global
reach, and extensive network, Celtic House offers the right platform to build
world class enterprises and leaders in their respective markets."
    Pierre-André's background supports Celtic House's objective of expanding
its investment activities in the Software and Wireless sectors as well as
improving its access to deal flow in the province of Québec. During his
career, Pierre-André has held senior operational positions including President
& CEO of Codagen Technologies, a developer of automated software development
tools, and Executive Vice President of ISR Technologies, a developer of
reprogrammable modems for military applications and wireless OEMs. Most
recently, Pierre-André was a Partner at GTI Capital, a Montreal-based venture
capital firm focused on early stage IT investing. While at GTI Pierre-André
led its investment in, and sat on the board of, Diablo Technologies, a Celtic
House Fund III company.

    Celtic House is a leading early-stage Information-Communications
Technology VC fund in Canada and the United Kingdom, managing approximately
$500 million in committed venture capital. The partnership works from offices
in Toronto, London, and Ottawa, and invests in Systems, Semiconductor, and
Software companies commercializing fundamental technology. Recent investments
include Avvasi (Waterloo, Ontario), Ontology Systems (London, UK) and RedMere
(Dublin, Ireland).
    "We are enthusiastic about Pierre-André joining our team," said Brian
Antonen, Partner at Celtic House, "We have had the opportunity to work with
Pierre-André over a number of years and know that he shares our passion for
company building. We expect him to draw from his entrepreneurial credibility
and network as well as working with our existing portfolio to identify and
develop new early-stage companies."

For further information:

For further information: David Adderley, Partner, (613) 271-2020,

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