43rd Annual Venture Capital Institute

The Educational Foundation for Venture and Private Equity Professionals Worldwide

T. (Teo) Forcht Dagi, M.D.

Apta Biosciences/Anglo Scientific

 

T. Fortch (Teo) DAGI MD, DMedSc, MPH, MTS has held leading positions across academia, clinical medicine, biopharma and venture capital. He has been a successful venture capitalist, investing £17m in 11 early-stage companies focused on healthcare and the life sciences, with the fund yielding more than a 300x increase in value. Four of these companies returned over $6 billion in value as public companies.

 

A neurosurgeon, Dr. Dagi holds academic appointments at Harvard Medical School and Queen’s University Belfast and taught at the Harvard-MIT Program in Health Sciences and Technology. He has chaired the Scientific Advisory Boards for Dupont, Lundbeck and the Royal Bank of Canada, and held numerous directorships of companies throughout the healthcare space. Dr. Dagi was responsible for planning the surgical logistics for the first Gulf War, and has also advised US government agencies including the NIH, NIAID and FDA, and various sovereign wealth funds and European governments.

 

Prior to joining Apta, Dr. Dagi was an Advisor to Broadview Ventures, and Distinguished Scholar and Professor at the School of Medicine at Queen’s University Belfast. He holds faculty appointments at Harvard Medical School, where he is a member of the Academy, and at MIT. He is a graduate of the Johns Hopkins Schools of Medicine and of Public Health, completed a neurosurgical residency at the Massachusetts General Hospital, and held the Joseph P. Kennedy Jr. and the Neuroresearch Foundation Fellowships at Harvard University.

 

Dr. Dagi has deep interests in medical innovation and in translational surgery. His work has focused in the areas of cerebrovascular disease and stroke, neural salvage and rehabilitation, head injury and functional neurosurgery. He is credited with developing the first cerebellar stimulating systems for intractable epilepsy and early artificial-intelligence-based decision support systems for neurosurgery. He sat on the FDA’s neurological advisory panel. He is an editor of Neurosurgery, an Overseer of the Beth Israel Deaconess Medical Center, and a member of the Scientific Advisory Boards of the Massachusetts Life Sciences Center and Innovacorp, the Science and Technology Advisory Council for the Province of Nova Scotia.  Dr. Dagi has also successfully managed venture capital funds investing in early stage biomedical companies. He has taught at Harvard Business School and Wharton, is active in the National Life Sciences Association and serves on the faculty of the Venture Capital Institute. He was a Director of the Georgia Biomedical Partnership and a Founding Director at the Southeast Life Sciences Investor Association.  Among other honors, Dr. Dagi was awarded a personal US Humanitarian Service Medal. In 2012 he was the Dixon Medalist of the Ulster Medical Society and in 2013 he received ad hominem Fellowship from the Royal College of Surgeons in Edinburgh.

 

 

Clare Fairfield, VCI Chairman

Concerto Advisors

 

Clare J. Fairfield has over 25 years of entrepreneurial management and business development experience, including founding and managing businesses, venture capital investing, designing and delivering entrepreneurial and venture capital educational programs and providing legal advice to start-up and existing companies.  Mr. Fairfield has been involved with the start-up, acquisition and/or development of companies in the communications, information technology, retail, healthcare, manufacturing, medical device, software, construction and real estate industries.

 

Mr. Fairfield is the Executive Managing Director of Concerto Advisors, Inc., a venture development advisory firm; a founding General Partner and the Executive Managing Director of Concerto Venture Partners, a diversified, early-stage focused venture firm; and, a current General Partner and past Managing Director of AAVIN Venture Capital, a sector and stage diversified venture capital/private equity fund.  Within these firms Mr. Fairfield’s responsibilities included and include: fund raising; sourcing deal flow; negotiating the acquisition, financing and disposition of portfolio investments; sitting on the boards of individual portfolio companies and overseeing their growth; managing staffing needs and making compensation decisions; and making portfolio investment determinations as an investment committee member.  Early in his career, Mr. Fairfield practiced business and tax law.  He is currently working with leading venture capitalists, entrepreneurs, educators and government leaders around the world to develop an international system of entrepreneurial and venture capital education and company development.

 

Mr. Fairfield served as founding Associate Director of the John Pappajohn Entrepreneurial Center at the University of Iowa.  The Iowa program was the first program in the United States to offer an accredited Engineering Certificate in Entrepreneurship.  Since 1998, the Iowa Program has been ranked as one of the top entrepreneurial programs in the United States.

 

Mr. Fairfield is a member of the National Venture Capital Association, the National Association of Small Business Investment Companies (NASBIC), the Regional Association of Small Business Investment Companies, and the Wisconsin Bar Association.  He currently serves as a member of the Board of Governors of NASBIC, is Chairman of the NASBIC Education Committee and the Venture Capital Institute, and is a past member of the Executive Committee of NASBIC.  Mr. Fairfield has frequently served as a judge and as chairman of the selection panel for the Ernst & Young Entrepreneur of the Year Award Program.  He serves as a commercial reviewer for the National Science Foundation SBIR Program, was a charter member of the MidAmerica Healthcare Investor Network and is Co-Chairman of the MIT Enterprise Forum Committee on Entrepreneurial Ecosystems.  He is a frequent regional, national and international speaker on the topics of innovation and venture capital.

 

Mr. Fairfield received a BBA in Accounting, JD, and MBA from the University of Iowa.  In 1997, he was named a Price-Babson Fellow in Entrepreneurship at Babson College in Boston.

 

 

Stephen Fleming

Enterprise Innovation Inst. Georgia Institute of Technology

At various times, Stephen Fleming has been paid to be an optical physicist, laser fabricator, software developer, field engineer, product manager, corporate trainer, marketing executive, salesman, general manager, entrepreneur, author, venture capitalist, board member, investment banker, consultant, angel investor, public speaker, adjunct university faculty, commercial landlord, and now academic bureaucrat and economic developer.

As a venture capitalist, Mr. Fleming has over 15 years of private equity experience at the General Partner level. Prior to his venture capital career, he spent 15 years in operations roles at AT&T Bell Laboratories, Nortel Networks, and LICOM (a venture-funded startup).

An Atlanta native and summa cum laude graduate of Georgia Tech, Mr. Fleming returned to his alma mater in mid-2005 where he currently serves as Vice President, Economic Development and Technology Ventures, and Executive Director of the Enterprise Innovation Institute at Georgia Tech.

In addition to his roles at Georgia Tech, he is a member of the Investment Committee of the Seraph Group, an early-stage venture capital firm. Mr. Fleming is active in the “alternative space” industry; he is an investor in six private aerospace companies and is a founding member of the Space Angels Network. Mr. Fleming also serves on the board of the Technology Association of Georgia, and is a former board member of the Spiritual Living Center of Atlanta, and of Tech High School, a charter high school emphasizing science, math, and technology in urban Atlanta.

 

 

Patrick F. Hamner

Patriot Capital Partners

 

Patrick Hamner joined Patriot Capital, a family of private equity/mezzanine lending funds currently investing out of its $260M Fund III as a Managing Director in November 2012. Mr. Hamner served for 24 years with Capital Southwest Corporation, [NASDAQ: CSWC], a Dallas, TX-based SBIC, rising to Senior Vice President with responsibility for developing and monitoring venture capital and private equity investments, and facilitating add-on acquisitions. He served on fourteen boards during his tenure at CSWC. He was the founding Chairman of Heelys, Inc. [NASDAQ: HLYS] from 2000-2007 and joined their management team from 2006-2008 last serving as a Senior Vice President.

 

After having co-founded a $69 mm non-leveraged SBIC in Dallas from 2009-2011, Mr. Hamner was appointed an adjunct lecturer at the Southern Methodist University Cox School of Business in 2012 and continues to teach in the Professional MBA program.   Mr. Hamner served as the Chairman of the Board of Governors of NASBIC (now Small Business Investor Alliance) in 2001-2002. He serves on the local steering committees of the DFW Private Equity Forum, the Southwest Venture Forum, and the Alliance of M&A Advisors and is an active member of the Association for Corporate Growth.  He is Chairman of the SMU MBA Venture Fund and a Fellow with the Baylor Angel Network.

 

Mr. Hamner is an advisory member of Marketplace Ministries’ Foundation, a Ruling Elder at Park Cities Presbyterian Church and a former Scoutmaster with BSA Troop 125, where his three sons all achieved Eagle Scout. Since 2007, he has won seven masters national rowing championships, including in 2015, the mixed E double (55 to 60 year olds), while rowing for the Dallas Rowing Club.

 

Mr. Hamner is a graduate of The University of Texas at Austin (MBA and Dean’s Award) and SMU (BSME cum laude) and he is married to Janie S. Hamner, MD, a pediatrician.

 

 

Lewis Jaffe

Jaffe & Associates / MoviMe Network

 

All businesses are the same; they exist for the sole purpose of “gaining and retailing customers, profitably in order to create real value.”  In the course of his 30+ year career, Lewis Jaffe, following that simple mantra, has lead the growth, successful turnarounds of more than 20 under-performing companies, public and private as their chief executive or outside advisor in a variety of industries creating over $500MM in shareholder value.  Mr. Jaffe’s greatest strengths include leadership, vision, and building a plan that teams can execute with great success.  He is a customer focused leader who understands complex market dynamics, the intricacies of distribution channels and maximizing corporate assets including human capital and leveraging a balance sheet. Mr. Jaffe’s focus is on business to business companies but also has experience with business to consumer.  Much of his concentration has been in telecommunications, manufacturing, media/content delivery, and distribution of B2B and B2C products, disposables through capital goods.  He also has significant experience with M&A activity and post transaction integration.

 

Mr. Jaffe is a Professor of Business and Entrepreneur-in-Residence at Loyola Marymount University in the Fred Kiesner Center for Entrepreneurship.  Prior to joining the faculty he was the Co-Founder of MoviMe Network, the world’s first ultra-fast download service Hollywood Content.  MoviMe can be found in airports on the WiFi networks as well as there is an internet based store for mobile device users.

 

Mr. Jaffe has taken interim and permanent roles within organizations to drive change and increased financial performance. Mr. Jaffe was the Chief Executive of Oxford Media Inc., a Video on Demand and High Speed Internet Access Company delivering content and services to the hospitality industry where he grew the Company to the second largest VOD provider in the segments they served while adding high margin services to the same customers and COO of Verso Technologies where he integrated numerous acquisitions that were made prior to his tenure while creating product bundles with in-house technology as well as developing strategic partners with other technology providers. At PictureTel Corporation, a $500 million, NASDAQ-listed Videoconferencing Company, he turned around the Company and increased its market value over 5 fold in two years by refocusing on customers, streamlining the product set and rebuilding the distribution channels.  He also was the managing director of Arthur Andersen’s Corporate Finance practice in Boston where he managed over 20 client engagements in multiple industries designing turnaround and growth plans as well as guiding M&A activity.

 

Mr. Jaffe holds his Masters Certification of Public Company Board of Directors.  He serves as the Chairman of the Board for FitLife Products and is the lead independent director for York Telecom and the President of the Board of Directors for Providence Speech and Hearing, a not for profit organization 501(c)3 focused on “Enriching life through the gift of speech and hearing.”  He also served for 8 years as the lead independent director on the board of; Benihana Inc. (BNHN:NASDAQ) the nation's largest chain of Japanese teppanyaki and sushi theme restaurants.  As part of his Board duties, Mr. Jaffe has led special committees for boards that were formed to: explore strategic alternatives, options for capital raising, investigations on HR and insider trading allegations and strategic committees for the targeting of potential acquisitions.  He is a sought after public speaker on various topics include: Leadership, Management, Strategic Planning and Problem Solving, Convergence in Telecom and Corporate Renewal.

 

Mr. Jaffe has been a guest on a number of business shows for CNBC, MSNBC and ABC, and has been quoted in a variety of business and trade publications including Forbes Magazine, The Wall Street Journal, the New York Times, Business Week and the Boston Globe and a YPO resource as well as a former member of the YPO New England Chapter, currently WPO Santa Monica Bay Chapter.  Mr. Jaffe is a graduate of LaSalle University, and the EPSC at Stanford University’s Graduate School of Business.



Carl A. Jenkins

BMO Harris Bank N.A.

Carl A. Jenkins is Managing Director and Head of Community Investments for BMO Harris Bank N.A., the U.S. banking subsidiary of BMO Financial Group.  He oversees Community Reinvestment Act investments targeting lower middle market companies and community-based real estate development in all BMO Harris markets.  Presently, Mr. Jenkins manages a team and investment portfolio with commitments exceeding $500 million and covering the states of Arizona, Florida, Illinois, Indiana, Minnesota, Missouri, Washington and Wisconsin.  Prior to his current position, he served as a commercial real estate lender for BMO Capital Markets and the BMO Harris Community Development Lending team.

 

Prior to joining the bank, Mr. Jenkins worked for the Local Initiatives Support Corporation (LISC), a national community development financial institution.  He earned his bachelor's degree in architecture from Washington University in St. Louis and holds an MBA from the Kenan-Flagler School of Business at the University of North Carolina.  He serves on the board of directors for several organizations, including; National Association of Affordable Housing Lenders, Cook County Land Bank Authority, Disability Opportunity Fund, Small Business Investor Alliance, Chicago Sinfonietta and Goodman Theatre.  Mr. Jenkins also serves on the advisory committee of several lower middle market private equity funds.



Pitch Johnson

Asset Management Company

Franklin Pitcher (“Pitch”) Johnson was co-founder in 1962 of Draper and Johnson Investment Company, venture capital company, and became an independent venture capitalist in 1965 as the founder of Asset Management Company. Asset Management Company has made over 250 venture investments during its more than 47 years of operation. These have included Amgen, Applied Bio Systems, Applied Micro Circuits, Conductus, Hybritech, IDEC Pharmaceuticals, Octel, Qume, Red Brick Systems, Remedy, Sierra Semiconductor, Tandem Computer, Teradyne and Verity.

 

He is a past director of the National Venture Capital Association, a past president of the Western Association of Venture Capitalists, and was a trustee of the Foothill-De Anza Community College District for 12 years. He also taught a class in entrepreneurship and venture capital at the Stanford Graduate School of Business for 12 years and is still active on the faculty there. He has served as an advisor to several eastern European countries since 1990 in the area of entrepreneurship and privatization, and has helped form venture funds in several countries. He is active in educational and cultural affairs and served as chairman of the board of San Francisco Opera from 1999-2008. Mr. Johnson is the lead limited partner of Asset Management Ventures and is active in managing his family office and foundation.

Mr. Johnson has a BS in Mechanical Engineering from Stanford University and an MBA from the Harvard Business School.

 

 

Rimas Kapeskas

UPS Strategic Enterprise Fund

 

Rimas manages the UPS Strategic Enterprise Fund (SEF), the private equity strategic investment and corporate venture capital arm of UPS. The fund is focused globally on developing critical partnerships and acquiring knowledge returns from its investments in technology companies and emerging market spaces. Established in 1997, the SEF is an important business development tool that enables exploration of emerging markets and technologies that may enhance the evolving business models at UPS.

 

Rimas oversees all operations of the fund, including sourcing and evaluating investment opportunities, facilitating the ongoing relationship between UPS and the venture capital community and portfolio companies, and management of the fund staff. He has an MBA from Goizueta Business School at Emory University and a BS from the University of Connecticut. Rimas resides in Dunwoody Georgia with his wife Carla and two children, Luka and Viktoria.

 

 

Monro Lanier

McLarty Capital Partners

 

Monro B. Lanier III is the Vice Chairman and a Managing Principal of McLarty Capital Partner's Small Business Fund with over twenty-five years of small business private investment experience. Mr. Lanier has considerable Small Business Administration (SBA) regulatory experience, including leadership roles as the former Chairman of the National Association of Small Business Investment Companies (the primary industry trade association for SBICs, now known as the Small Business Investor Alliance) and Chairman of the Venture Capital Institute. Over the course of his career, Mr. Lanier has participated in numerous investments in small businesses and served on many boards of directors and board committees.

 

Prior to joining MCP, Mr. Lanier was a Vice President of Hickory Venture Capital Corp., an SBIC, where he negotiated, structured and executed approximately thirty mezzanine and equity capital investments in small to mid-sized companies in a wide range of industries throughout the South, Midwest, and Mid-Atlantic regions. Mr. Lanier interacted regularly with the SBA on compliance matters and annual examinations.

Prior to his role at Hickory Venture Capital Corp., Mr. Lanier was a planning analyst with Sonat/Southern Natural Gas and economic analyst with Reynolds Metals Corporation. Mr. Lanier is currently an advisory board member of Innovation Valley Partners, an affiliate of Battelle Ventures that focuses on companies in the health and life sciences, security, and energy and environment sectors. Mr. Lanier was commissioned as an infantry officer in the U.S. Army and achieved a final rank of Captain. Mr. Lanier has two degrees from the University of Virginia, a B.A. in Economics with distinction/cum laude and an MBA from The Darden School where he received both the Shermet Award and the Faculty Award.

 

 

Jeffrey Leavitt, Partner

DLA Piper LLP (US)

 

Jeffrey Leavitt works with growing companies, private investment entities, and the various groups that advise them.   Mr. Leavitt is a graduate of the Kauffman Fellows Program, a highly competitive fellowship for venture capital professionals (www.kauffmanfellows.org).  He was the first J.D. and only the second person from Atlanta ever accepted into the program.  Kauffman Fellows receive specialized training in private equity investment techniques and develop an extensive network throughout the private equity industry.

 

Mr. Leavitt served half of his fellowship as an investment professional at a venture capital firm and half in an operating role with a technology company.  He is the only practicing attorney in the country to have completed the Kauffman program

 

Mr. Leavitt has also managed a consulting service for technology companies in the Southeast.  Before moving to Atlanta, he co-founded a venture capital backed software company in New York City.  He  began his career as an associate with Davis Polk & Wardwell in New York, where he helped consummate several high-profile transactions, including the merger of the Qwest and US West corporations and the merger of the Exxon and Mobil corporations, each the largest in history when announced. He also negotiated several private equity and LBO transactions for Morgan Stanley and CSFB’s investment arms.

 

Mr. Leavitt is a regular speaker and panelist in the Atlanta technology community, and was named one of Atlanta’s “Top Twenty Techies to Know” by the Atlanta Business Chronicle in 2002.  "Burned Angels: The Coming Wave of Minority Shareholder Oppression Claims in Venture Capital Start-up Companies," his article in the North Carolina Journal of Law & Technology, is now required reading in a number of law school courses on venture capital law.

 

Memberships

        Technology Association of Georgia

        Public Finance Task Force, Commission for a New Georgia

        State Bar of Georgia

        State Bar of New York

Publications

         “Beware of Burned Angels,” Venture Capital Journal, September 2005.

         "Burned Angels: The Coming Wave of Minority Shareholder Oppression Claims in Venture”

          Capital Start-up Companies," North Carolina Journal of Law & Technology, Spring 2005.

          Letter on Venture Capital Risk, printed in The New York Times, August 11, 2002, “Money & Business” section, p. 13.

 

 

Joseph Longosz

Kayne Anderson Capital Advisors

 

Joe Longosz is a managing director in the firm’s middle market credit activities.  Previously, Mr. Longosz was a managing director of Golub Capital where he established and ran the Atlanta office, served on the firm’s investment committee, and sourced, executed, monitored, and realized middle market debt investments.

Prior to Golub, Mr. Longosz was a managing director at Wachovia, where he formed and ran its Emerging Companies Group, which provided mezzanine debt to early stage companies, and served on the bank’s Equity Capital Investment Committee.  Prior to Wachovia, Mr. Longosz was senior vice president and Southeast region manager for Bank of America Commercial Finance, providing senior and mezzanine debt to small businesses, continuing similar investing activity he undertook at Creditanstalt-Bankverein.

Mr. Longosz received an MBA from The Wharton School of the University of Pennsylvania and a BS in Finance and Computer Science from Boston College.

 

 

Joseph Silver, Partner

DLA Piper LLP (US)

 

Joseph G. Silver is a business lawyer assisting companies and investors with venture capital and private equity investments, mergers and acquisitions and commercial transactions. He works with institutional investors in fund formation and the purchase, sale and financing of their portfolio companies.

He has broad experience in structuring and negotiating fund offering documents, common and preferred stock investments, joint ventures and public/private and private/private mergers and acquisitions and general corporate matters.

As counsel to numerous technology and healthcare companies and other growing businesses, Mr. Silver advises clients on various legal and business matters, including entity formation, corporate governance, capitalization, equity compensation, capital raising and customer contracts.

Mr. Silver is a regular speaker and panelist in the local investment community and has published several articles.

Recent Representative Transactions

  • Represented technology, healthcare and life sciences companies in more than 75 recent issuances of equity and debt securities.
  • Represented private equity funds, venture capital funds and corporate, strategic and angel investors in more than 100 recent financing transactions.
  • Represented institutional investors in the formation of private equity funds and venture capital funds, along with numerous associated portfolio company investments and acquisitions.
  • Represented public technology and telecommunications companies in several private company acquisitions, joint ventures and complex commercial transactions.

 

 

Steve Vivian

Kestrel Capital Group

 

Steve Vivian is a Principal & Founder of Kestrel Capital Group, an independent sponsor private equity firm focused on buying and holding businesses with established or emerging leadership positions in their end markets. He has 18 years of experience financing and investing in middle market companies. Mr. Vivian has been an active industry leader, having served as a past Chairman of the National Association of Small Business Investment Companies (formerly NASBIC, now knows as the Small Business Investors Alliance, or SBIA) and various leadership roles at the Illinois Venture Capital Association. Mr. Vivian is a frequent speaker on local college campuses and received both an MBA and a BS in General Engineering from the University of Illinois.

 

 

Andrew Wicks

The Darden School, University of Virginia

 

Andrew Wicks is the Ruffin Professor of Business Administration and teaches Ethics at Darden.  He is Director of the Olsson Center for Ethics, Director of the Doctoral Program, and an Academic Advisor for the Business Roundtable Institute for Corporate Ethics.

 

Professor Wicks has published a business ethics textbook, and his articles have appeared in a wide variety of journals in business ethics, management, and the humanities. His research interests include writing on stakeholder responsibility, stakeholder theory, trust, health care ethics, total quality management, and ethics and entrepreneurship.

He has taught ethics to MBAs and executives in the U.S. and abroad and received awards for both his research and teaching.

Professor Wicks joined the Darden faculty in 2002. He previously taught for 10 years at the University of Washington Graduate Business School.

 

 

 

 

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