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 3½ 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:
OTHER ACTIVITIES:
MEMBERSHIPS:
