WASHINGTON, DC– WashingtonVC, a private equity fund that incubates early stage companies through the exchange of complementary technologies and marketing services, has named Eric Litman managing director.

Litman takes the managing director role, while founder Mike Mann, who previously held the position, becomes chairman.

Litman is a pioneer of the Internet’s commercialization, and as a co- founder of Proxicom, helped to build one of the first, largest, and most successful publicly traded e-business consultancies.

Prior to joining WashingtonVC, Eric held senior executive roles in high growth Internet businesses, serving most recently as founder and CEO of Viaduct Technologies, a global Internet mobile technology, and management consulting practice.

Previously, he was instrumental in building digitalNATION, a world leading web hosting and services provider, from its launch through its $100m acquisition by Verio Internet/NTT. Coincidentally Mann sold one of his early companies, Internet Interstate, to Verio during the same era.

WashingtonVC models its methods on traditional Japanese keiretsu, connecting its portfolio companies through shared resources.

The firm generally invests less than $5 million in a deal. It is in the process of raising its first institutional fund likely to close in the first quarter of 2008.

Companies currently in the portfolio include Phone.com, Software.com, Yield Software, SEO.com, BrowserMedia, Graphics.net, Dial-A-Geek, X3O Emerging Technologies, StrongTech RFID, HappyBirthday.com, and DomainMarket.com.

On the Web: www.washingtonvc.com

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