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Kevin
J. Dougherty
Managing Director
After eight years as a commercial banker at Bankers
Trust Company and The First National Bank of Boston,
Mr. Dougherty began his venture capital career in 1981,
joining Massachusetts Capital Resource Company as a
Vice President, where he was involved in leveraged buy-outs,
mezzanine capital investments as well as investing in
early stage companies, primarily in electronic technologies.
He has similar experience at 3i Capital Corporation
in 1985-86. Mr. Dougherty joined the Venture Capital
Fund of New England in April 1986. He currently serves
as a member of the board of the VCFNE portfolio company
Tibersoft Corporation. Mr. Dougherty received a BA in
history from Williams College.
Harry
J. Healer, Jr.
Managing Director
Harry J. Healer, Jr. has over 30 years of venture capital
experience. For 11 years, he co-managed FleetBoston
Financial’s (BankBoston’s) venture capital
affiliates before resigning in 1980 to co-found The
Venture Capital Fund of New England (VCFNE). Since that
time, he has been a general partner of a succession
of funds that VCFNE has raised and managed, specializing
in early-stage venture investing. Professionally, he
concentrates on making and managing investments in the
fields of information technology and industrial technology.
He currently serves as a member of the board of the
VCFNE portfolio company Aircuity, Inc. He holds a BS
degree in Business Administration from Babson College,
and has served on the boards of 33 private and 13 public
companies.
Carl
H. Novotny
Managing Director
Carl Novotny became a General Partner of VCFNE in 2001
upon the formation of VCFNE IV, and is also a significant
Limited Partner in the Fund. As one of the Managing
Directors, Mr. Novotny oversees the fund’s investments
in all direct marketing related investments made by
VCFNE in early stage companies. He currently serves
as a member of the board of four VCFNE portfolio companies:
Members Connect, Inc., Sound Bite Communications, NextMark,
Inc., and First Equity Card Corporation. Outside of
his VCFNE activities, Mr. Novotny is also a major shareholder
and member of the board of directors of S&H Greenpoints,
Inc. of Salem, Massachusetts and of the Affinity Marketing
Group and Affinity Venture Group of Wellesley, MA.
Prior to joining VCFNE, Mr. Novotny was the founder
of First USA Partners, the exclusive sales and business
development arm of First USA Bank, the third largest
credit card issuer in the US, now a wholly owned subsidiary
of Bank One. First USA Partners was the leading independent
affinity marketing company in the US during the 1990’s.
Mr. Novotny sold the company to Bank One in 1998. Prior
to founding First USA Partners in 1990, Mr. Novotny
also co-founded Trans National Financial Services, a
pioneering company in the development of affinity marketing
of financial services, most notable affinity credit
card services and served as its COO until 1988. Mr.
Novotny is active in several non-profit groups including
the Philanthropic Council of Boston Children’s
Hospital Diagnostic Medical Center and The Boston Foundation.
He received his BA degree from Rice University and his
MBA from Harvard Business School.
Gordon
R. Penman
Managing Director
Gordon Penman has more than 20 years of experience as
a corporate attorney with Brown Rudnick Berlack Israels
LLP, of Boston, MA, where he is chair of the corporate
department. In his practice Mr. Penman has extensive
experience representing both investors and companies
in venture finance transactions. Mr. Penman spends half
of his time with VCFNE and half of his time with Brown
Rudnick. He currently serves as a member of the board
of the VCFNE portfolio company Members Connect, Inc.
He is admitted to practice law in Massachusetts and
Rhode Island, and is a member of the Boston Bar Association.
Mr. Penman received a BA from The College of William
and Mary and his JD from the University of Virginia
Law School.
E.
Jack Stewart
Managing Director
Jack Stewart has been involved in early stage New England
venture capital for over 25 years, first as a partner
of Corning Venture Management for over 19 years, followed
by his forming Kestrel Venture Management in 1995, and
currently as a founding partner of VCFNE IV. Individually,
Mr. Stewart has had an active and successful turn-around
career with numerous New England-based industrial companies.
In addition to his full-time capacity
with VCFNE IV, Jack is also an active advisor to three
other venture capital groups in the Boston area. He
serves as treasurer of Thompson Island Outward Bound,
also in Boston. Mr. Stewart holds a BS degree from Yale
and an MBA from the Harvard Business School.
Rashid M. Ashraf
Managing Director
Rashid joined VCFNE in 2006. He was a co-founder and Partner at Blue Sky
Ventures, an early stage technology fund located in the Boston area. At Blue
Sky, Rashid was responsible for managing the fund’s venture capital
investments and led the due diligence efforts for new opportunities. Prior
to founding BSV, Rashid was the Director of Business Development, and
eventually COO, of Medical Center of Boston International (MCBI), an
international healthcare company focused on Telemedicine, which involved
negotiating international contracts, raising equity, and structuring the
expansion of 39 foreign subsidiary sites. He received his BA degree from
Tulane University and his MBA degree from Boston University School of
Management.
Barbara
A. Faron
Manager, Office Operations
Barbara Faron joined VCFNE in 2001 and is responsible
for operations and administration. Prior to joining
VCFNE, she worked for First USA Partners managing the
administrative team assigned to selling co-branded and
affinity credit card programs on behalf of First USA
Bank and later Bank One. She also worked for Braxton
Associates, now Deloitte & Touche Consulting LLP,
where she participated in many strategy-consulting engagements.
Ms. Faron received a B.A. in Communications and Spanish
from Simmons College.
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