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| RAISING MONEY - Alternative
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The sources of traditional capital from Venture Capital,
Corporate Venture Capital and Angels has represented a huge source of early
stage and growth capital for technology rich and innovative small
companies...but these sources of capital have come to a near halt for many
early stage companies. Worsening this situation is the fact that in addition to
their capital, these sources also provided key customer relationships,
validation and credibility within the industry, a strategic partnership for
marketing, sales and manufacturing, acquisition synergy and preference, and
excellent positioning for later financings. What does the entrepreneur do today
in light of this situation? Our speakers tonight from the capital community and
as CEOs will talk about their companies, portfolios, investment perspectives,
and experiences in alternative funding pathways for early stage
companies.
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| Panel: |
Jack
Langworthy, Managing Director, TechCap Advisors is a Boston-based
boutique investment banking firm providing private and public software and
communications companies with the experience, expertise, resources and focus
necessary to initiate and complete mergers, acquisitions, private placements,
fairness opinions and related financial advisory assignments. TechCap Advisors
has extensive experience advising corporate clients and have built an
impressive record of assisting technology companies in evaluating strategic
alternatives and successfully marketing, structuring, negotiating and closing
transactions. They have led and completed more than 40 transactions with an
aggregate value exceeding $2 billion in the software and communications
sectors.
Prior to founding TechCap, Jack was a Principal in the Boston
office of Banc of America Securities LLC's ("BAS") technology investment
banking practice where he was responsible for the development and execution of
equity and M&A assignments for BAS's technology clients. Before joining
BAS, Jack was at IBM where he executed transactions as part of IBM's corporate
M&A team and, earlier, was with Fireworks Partners, IBM's internal venture
capital group. Prior to IBM, Jack was Vice President and General Counsel and
had extensive operational responsibilities with Integrated Resources Energy
Group, a Denver, Colorado-based oil and gas company management firm. Before
that, Jack was an attorney in private practice in Denver. Jack's education
includes a S.M., MIT Sloan School of Management; J.D., University of Denver;
and, B.A., University of Denver. |
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Daniel Behr is the Principal of Seed
Partners and Growth Point Fund. Seed Partners is a hands-on, seed-stage and
early-stage private equity firm founded in 1998. They typically invest at a
relatively early stage in a company's development and prefer to take on
significant hands-on roles - in some cases as interim operating executives.
Their investment focus is on advanced engineered products and systems that
solve real problems.
The Growth Point Fund (managed by Growth Point
Ventures, LLC) invests in companies delivering advanced engineered products and
systems that solve real market needs. The Growth Point Fund makes private
equity investments in early-stage, emerging companies that have reached a stage
of development where additional capital can significantly accelerate growth and
value creation. The Fund plans to deploy $100M in 20-30 companies, investing
between $1M and $6M in each company.
Mr. Behr co-founded and
successfully operated two industrial instrumentation companies focused on the
semiconductor equipment industry. His most recent company, Compact Instruments,
was one of the first portfolio companies for Seed Partners Fund I. Compact
Instruments produces mass spectrometers and other vacuum based instrumentation.
It was sold to MKS Instruments within a year of founding for a 17x gain. Mr.
Behr co-founded his first company in 1987 after having spent 2 years as a
strategy consultant at Bain & Company. He earned an MBA from the Harvard
Business School and an engineering degree from Georgia Tech. Mr. Behr serves on
the board of several portfolio companies. |
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| Moderator: |
Larry Grumer is Chairman
of the Boston Entrepreneurs' Network & Managing Director, Technology
Associates & Alliances (TAA). TAA is a management advisory and investment
company that commercializes technology for early-stage companies and corporate
spin-outs preparing these businesses for accelerated growth, high valuations,
funding and strategic corporate partnerships and business recovery. TAA
establishes and implements companies' growth strategies through; emerging
markets, government initiatives, corporate partnering, sales and licensing to
bring the technology research and commercial product concepts to manufacturing,
and market realities. Mr. Grumer has held profit & loss management
positions at Textron (Avco), Arthur D. Little, John Brown Group, and
Foster-Miller where he helped effect their business turn-around. He received a
BS in Engineering and MBA with high distinction in International Marketing and
Finance concentration from Northeastern University. He has held a Top Secret
clearance. |
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