Management Team


Walter F. Baumgartner

Walter organized the Cypress Growth Funds in 1989 to participate in the public market for emerging technology companies capitalizing on an investment perspective gained by twelve years of active venture capital investing.

Walter was General Partner of Sequoia Capital for ten years, a venture capital firm where he participated in over 70 private company investments with 21 coming to the public market. His initial venture experience was gained at Bank America Capital where he participated in a variety of venture activities including leveraged buy-outs.

A native of Switzerland, Walter is an avid skier and tennis player.



Jay H. Friedrichs

Jay has co-managed the Cypress Growth Funds since 1991. Jay has been involved in the investment business for more than 25 years. Before joining Cypress, Jay spent seven years with Glynn Capital, a West Coast firm that similarly invested in small growth companies both public and private. Prior to that Jay was a member of the Dean Witter/Morgan Stanley San Francisco team of investment bankers and the manager for the West Coast Private Placement operation of Prudential Insurance Company.

Jay is a native of California and attended Stanford University and the Stanford Graduate School of Business. He is an active golfer. He also is closely involved with Village Enterprise that is focused on starting business in East Africa for the purpose of alleviating extreme poverty.