Content area
Full Text
ALLEN Jon Bayless of Sevin Rosen Funds plans to become chief executive of one of the venture-capital firm's portfolio companies, a Silicon Valley startup that is moving its headquarters to Allen.
That will mean Bayless' morning commute will shift from Sevin Rosen's offices in the Galleria to the Allen Technology Park, where Sunnyvale, Calif.-based Xtera Communications Inc. will be leasing an 85,000square-foot building on West Bethany Drive in August or September.
The two-story Xtera facility can house about 250 people, and the 30employee company plans to have about 200 people working in Allen in two years or so.
It's not clear how Bayless' duties at Sevin Rosen will be handled once he goes over to Xtera, which is expected to happen in the next few months. Bayless currently sits on the boards of about a dozen companies, including Xtera and seven others in the Dallas area.
"Right now, he's acting CEO," says Paul Harrison, vice president
of marketing of 15-month-old Xtera. "Quite frankly, we haven't had detailed discussions with him as to what his status will be."
However, officials of Sevin Rosen and Xtera...