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EDUCATION:   

2005         Visiting Scholar, Haas School of business, Lester Center for Entrepreneurship and innovation
                  University of California, Berkeley
2004         Visiting Scholar, Wharton school, Sol Snider Entrepreneurial Research Center
                  University of Pennsylvania

Researched venture capital finance at Wharton’s entrepreneurship center directed by Ian Macmillan. Identified two strategies for improving venture capital portfolio returns building on principles of financial engineering and behavioral economics. Identified an optimal deal structure for maximizing returns from early stage investments. Co-authored two papers with Charles Baden-Fuller (Professor, Cass Business School, City University London) outlining investment strategies that venture funds can use to increase returns without increasing risk by adapting hedge fund investment techniques. (see: Publications)

1984         Massachusetts Institute of Technology (Sloan School)              

S.M. Management, 1984. General management curriculum emphasized entrepreneurship and management of technological innovation.

1979         Pomona College

B.A. Mathematical Economics, 1979. Graduated in 3˝ years. Self-financed education.

 

For a listing of speaking engagements and journals on which I am a peer reviewer, see Other Activities section below.

 

EXPERIENCE:

Haas School of business, Lester Center for Entrepreneurship and innovation
Wharton Business school, sol snider entrepreneurial research center

Visiting Scholar/Executive-in-Residence.  Mentor entrepreneurs. Judge business plan competitions. Published article detailing strategies for improving venture capital portfolio returns building on principles of financial engineering and behavioral economics (in press, Journal of Business Venturing). Identified an optimal deal structure for maximizing returns from early stage investments (see: Publications). Trained in securities valuation techniques for private equity transactions.

Hilliard EQUITIES (San Francisco & Philadelphia)

Consultant and Private Investor (ANGELS FORUM, BAND OF ANGELS, ROBIN HOOD VENTURES, L.O.R.E ASSOCIATES)
Co-manage deal sourcing and diligence activities for four early-stage venture capital partnerships in the following business areas: IT, internet infrastructure, semiconductors, hardware, and businesses involving OEM marketing channels and/or international sales. Negotiate term sheets, determine valuations, mentor entrepreneurs, and assist in operating roles as requested.

  • Member of the deal pre-screening committees for Band of Angels and Angels Forum

  • Serve as one of the “go to” guy for negotiating terms sheets

  • Co-led syndication of an investment in Aereon Solutions (Co-investors include Intel Venture Capital, Ben Franklin Technology Partners, Tri-State Private Investors Network, New York Angels and others). Assisted in attaining local government investment support for the company (see: http://www.sep.benfranklin.org/news/040617.html)

  • Board seats: Aereon Solutions, Clairvoyante (observer)

SHARED EQUITY INVESTMENT MANAGEMENT

Private Equity Investment Fund Manager
Building a new form of alternative mortgage product based on patent-pending real estate investment methods.

E-Color, Inc., Formerly Sonnetech, Ltd.

President and Founder. Bootstrapped company from inception to profitability without outside investment. Products were sold on an OEM basis to computer makers including: IBM, HP, Samsung, NEC, Viewsonic, Creative Labs, and LG Electronics.

  • Raised over $33M of venture capital to adapt company into an internet infrastructure ASP in 1997.

  • Managed an M&A process selling the company to LightSurf Technologies (headed by Philippe Kahn, founder of Borland), which provided an investor exit at a higher than expected valuation

  • Built a global sales presence and brand-name recognition for our Colorific® products in the United States, Europe, Korea, Taiwan, and Japan. Initiated China OEM sales channel for LightSurf after acquisition.

  • E-Color sold over 60M copies of its software worldwide at the time of its acquisition; making it one of the top 100 programs ever produced in unit sales terms. 

  • Created a new market segment in the PC industry.

  • Negotiated technology deals with Microsoft to add enabling technology into Microsoft’s DirectX platform.

  • Managed development of the company’s patent portfolio which played a large factor in the acquisition valuation.

E-Color Investors included: Reuters Greenhouse Fund, The Invus Group, Enterprise Partners Venture Capital, 2M Invest and others. Board members included: Phil Schlein, Hon Wong, Francis Chen, Ron Taylor, Richard Sorkin, and Michael Hudes. Advisors included: Peter Danzig of Akamai and others.

MicroTouch Systems, Inc., NOW 3M Touch Systems

General Manager OEM Products, General Manager Asia Pacific. Launched a business unit for MicroTouch that marketed touch screens and pen digitizers to personal computer and display makers.

*          Participated as part of the management team that took the company public.

*          Led OEM sales efforts quadrupling business unit revenue in less than two years, growing to 13% of total company revenue. Key OEM Customers included NEC, Grid, Dell, and others.

*          Managed product management of OEM touch screen products, shrinking a “board-based” touch screen technology into an ASIC-based chipset.

*          Built and managed an Asian sales representative network.

Phoenix Technologies, Ltd.

Director of Product Management. Launched a division that grew to $11M in annual OEM sales, comprising 20% of corporate revenues. Managed product managers responsible for 7 software and/or hardware product lines and 20+ engineering services projects. Customers included: Toshiba, Seiko Epson, and Canon.

*          Personally closed the first $8M in OEM sales before completion of product development.

*          Served as part of the management team that took the company public.

*          Initiated one of the first OEM ingredient branding programs in 1987; a marketing strategy which emulated in later programs such as: “Powered by Adobe” and “Intel Inside.”

Addison-Wesley publishing

Sales and Marketing Manager, Electronic Media Systems Division.  Increased sales by 50% and margins by 10%. Established a telemarketing program that closed 55 site licenses in its initial 9 months. Helped license publishing rights for The Student Edition of Lotus 1-2-3—one of the top-selling educational software products.

mass logic, Ten point systems, Johnson & Johnson, unionbanc computer corporation

Various Product Management, Sales Management, Sales, and Human Resources Positions.

PATENTS:

·   Six US patents issued: US5638117, US6392657, US6654493, US 6693647, US6744448 and US6847376.

    Inventor or co-inventor on 7 additional patent applications worldwide.

OTHER ACTIVITIES:

·   San Francisco Program Chair, Wharton Private Equity Network, 2004-present.

·   Reviewer for peer-reviewed journal Long Range Planning, International Journal of Strategic Management

·   Invited speaker at Said School of Business at Oxford University, June 2003.

·   Invited speaker at fall term Proseminar in Entrepreneurship, MIT Sloan School, 1996-2002.

·   Invited speaker at Carlson Business School, University of Minnesota, 1998.

·   Invited speaker at Haas Business School for Partners for Entrepreneurial Leadership (PEL), University
of California Berkeley, 1998.

·   Amateur Triathlete, Completed 5 triathlons 1999-2004

MEMBERSHIPS:

·   Wharton Private Equity Network

·   Society of Licensing Executives

·   International Property Society

 

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