From Spin Off to Blast Off.

ENTRUST

What comes first, a great company or a great product? A great question.

Entrust was a leader in Internet security software that facilitated the electronic transmission of sensitive information through data encryption, user authentication and user access control. In 1996, we led an investor/management group in acquiring 40% of the company as it was spun off from Nortel, its parent company.

To unlock Entrust’s full potential, we needed to build a company around what was already a great product.

We began the process by setting ambitious new strategic goals and growth objectives, and assisting in the recruitment of key C-Suite personnel. Next, we helped management set up the infrastructure to function independent of its corporate parent while introducing the company to potential new customers. In addition, a stock option plan was established to reward management for value creation.

During our investment period, Entrust’s revenues grew over 550% and Olympus increased the value of our original investment by nearly 20x. Entrust completed its Initial Public Offering (NASDAQ: ENTU) in 1998.