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Promotions at US firms Cardinal Venture Capital and Kodiak Venture Partners

Christian Borcher has been promoted to partner at California-based Cardinal Venture Capital, a firm that focuses on investments in early stage information technology companies. In his new role he will continue to be responsible for identifying, leading and managing investments for the firm. Borcher focuses on wireless technologies, digital media and mobile content and consumer applications.

Prior to joining Cardinal in early 2000, Borcher was a lawyer in Denmark. He is also a member of the Danish Business Council of Silicon Valley under the Danish American Chamber of Commerce.

Joyce Chung, general partner of Cardinal Venture Capital, said, 'Christian's background as a successful entrepreneur and attorney with experience in finance and M&A are tremendous assets for both Cardinal Venture Capital and our portfolio companies.'

Kodiak Venture Partners has appointed Penny Breen as vice president of finance and Murray Berkowitz to technology partner from his previous role of entrepreneur-in-residence. Kodiak is a seed and early stage venture capital firm focusing on communications/IT, semiconductor and software companies.

Breen will manage finance and administrative functions for the firm, including financial reporting, human resources, and office management. Prior to joining the firm, Breen served as a finance consultant at Globespan Capital Partners and before that she worked for Delta Global Trading.

Berkowitz, who joined Kodiak in September 2004 as entrepreneur-in-residence, will continue to focus on developing new software investment opportunities, and provide business strategy and technical guidance for portfolio companies.

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