Today's Monday meeting is with Micah Myers of Claremont Creek Ventures. Micah joined Claremont Creek Ventures in 2009. Prior to joining Claremont Creek Ventures, Micah worked as an Analyst with the energy team at Passport Capital where he focused on both public and private investments in the renewable energy sector and as a Product Manager at Clean Power Finance, a residential solar finance start up. He has been in operational roles for over 15 years, and has experience in renewable energy, software and finance. Micah served more than eleven years active duty in the United States Marine Corps as a fighter pilot flying the F/A-18 Hornet and continues to serve as a reserve officer in the select reserves. HIs investment protfolio includes Alphabet Energy, Inc.and Clean Power Finance, Inc.
Q. From which industry sector do you think we will see the most innovation in the next 2 years?
A. Competition over global resources is becoming more readily noticeable everyday, and it's creating an imperative for innovation across several sectors that have traditionally been sleepy and quiet. Simultaneous advancements in material science along with innovative applications of information and wireless communications technologies have made disruption possible. Economic pressures are quickly amassing to make it feasible. Sectors to watch:
Utilities: Electric Utilities and Water Utilities
Consumer Goods: Automotive
Industrial Goods: Building Materials, Pollution & Treatment Controls, Waste Management
Q.2011 is the year of ...
A. ...WATER.
Q.The biggest threat to the US venture capital industry is
A. Anti-business legislation, tax, and regulation that hamstrings U.S. industry and thwarts our ability to be competitive on a global stage. Lack of [political] commitment to develop consistent, predictable policy that promotes investment and long term value creation in energy and resource technologies.
Q.What is your favorite book of the last year?
A. ELECTRIC POWER SYSTEMS – Alexandra von Meier - A technical overview of the complexities of our electrical grid infrastructure written for non-EE-PhD's.
Q.Name a venture-backed company you are not invested in but wish you were.
A. OPOWER
Q.Name a practicing VC from another firm who you admire and why?
A. Dan Oros (KPCB Greentech Team) is rising star who rolls up his sleeves and contributes to real value creation and operational success in the portfolio companies with whom he works. He brings perspective from a hedge fund background and has investment experience in some of the early, pioneering renewable energy technologies and developments. He's one to watch.
The venture capital and biotechnology industries lost a great man this week. Yesterday Jean Deleage, co-founder of three venture capital firms -- Sofinnova Ventures in 1971; Burr, Egan, Deleage in 1979 and Alta Partners in 1996 - passed away from complications from cancer, leaving a legacy of life saving innovations that have made our world a better place. His investments in companies such as Genentech, Chiron and Cephalon benefited millions of patients who suffered from diseases such as epilepsy, cancer and multiple sclerosis.
In addition to being well known as an investor, Jean was also highly regarded as a mentor to young venture capitalists. One such young VC was Terry McGuire, Co-Founder of Polaris Venture Partners who upon entering the venture industry worked under Jean's guidance. As NVCA chairman, Terry honored Jean with the NVCA Lifetime Achievement award in 2009. In toasting him alongside of other life sciences pioneers and friends - Brook Byers, Grant Heidrich, Jim Blair and Tony Evnin -- Terry shared the following words:
Jean, you came to the United states to be a pioneer. You came to venture capital to be a builder. You came to biotechnology to make a difference during an important revolution. Without question you will leave a legacy as a pioneer, a builder and a revolutionary....Known to your peers as a courageous, loyal, patient and instinctive investor, we recognize you today for your contributions... When beginning his career...(Jean) could have chosen from many paths to pursue. I, for one, feel extremely fortunate that (he) chose venture capital.
On behalf of the entire venture capital industry, we feel the same way too.
To continue Jean’s life work in life science research and innovation, donations in his memory can be made for Oncology Research at UCSF Medical Center. To make a donation on-line please follow this link and select the “other” designation and insert “Fund #B0831 IN MEMORY OF JEAN DELEAGE”
Today we caught up with Carter Caldwell who is a principal at Cross Atlantic Capital Partners headquartered in Radnor, Pennsylvania. Prior to joining Cross Atlantic, Carter founded and served as COO of Quazant Technology, Inc, the developer of the Transaction Accelerator, a high-speed transaction processing database. Prior to Quazant, Carter helped start Acorn Systems, Inc. and was integral in taking that company from pre-revenue to profitability. He currently serves as a Steering Committee Member for the Mid-Atlantic Capital Alliance, and a judge for the nationally-recognized Ernst & Young Entrepreneur of the Year Competition, Wharton Business Plan Competition, Wharton Sustainable VC Investment Competition, and the Pitching Across America Competition.
Q. From which industry sector do you think we will see the most innovation in the next 2 years?
A. Cloud-based applications and infrastructure
Q.2011 is the year of the...
A. ...careful expansion.
Q. The biggest threat to the US venture capital industry i...
A. ... carried interest legislation.
Q.What is your favorite book of the last year?
A. Good to Great: Why Some Companies Make the Leap... and Others Don't
Q. Name a venture-backed company you are not invested in but wish you were.
A. The Receivables Exchange which is an online marketplace where businesses sell their accounts receivable to accredited investors in real-time auctions.
Q.Name a practicing VC from another firm who you admire and why?
A. Tim Draper of Draper Fisher Jurvetson because of his enduring energy and continual ability to think several steps ahead of others. This has been shown by the list of investments he has endorsed throughout his career. Similarly, his ability to assess key problems needing solving outside the United States led him to create the DFJ Global Network that provided a global reach for venture investing while offering portfolio companies a local presence. Finally, I respect his charitable commitment of teaching children about entrepreneurship and business - a topic which he is clearly a proven expert.
We are kicking off March Monday Meetings with Jimmy Rosen, life sciences partner at Intersouth Partners in Durham, North Carolina. Jimmy joined Intersouth in 2005 after spending 15 years in clinical, research and financial positions in the health care and biotechnology sectors.
Jimmy worked on a Robert Wood Johnson Foundation sponsored program at the UNC Lineberger Comprehensive Cancer Center. He was also an equity research analyst at Brean Murray & Co. for three years, covering biopharmaceuticals, genomics, generics, drug delivery and medical device companies. He has worked in clinical research roles at Duke University Medical Center’s Comprehensive Cancer Center and completed projects for the National Cancer Institute. At the beginning of his career in health care, Jimmy spent five years in Emergency Medical Services as a mountain search rescue and ambulance medic.
Q. From which industry sector do you think we will see the most innovation in the next 2 years?
A. Medical imaging: non-invasive diagnosis and staging of disease that can inform real-time intervention.
Q. 2011 is the year of the .....
A. .....patient (as in enduring).
Q. The biggest threat to the US venture capital industry is ...
A. ... the U.S. FDA’s lack of understanding of its role in the cycle of innovation.
Q. What is your favorite book of the last year?
The Other Side of Innovation, Solving the Execution Challengeby Govindarajan & Trimble
Q. Name a venture-backed company you are are not invested in but wish you were.
A. Clarus Therapeutics
Q. Name a practicing VC from another firm who you admire and why?
A. Terry McGuire at Polaris. He’s as smart as they come, a clear thinker, excellent communicator, mentor and respected leader in our industry. I learn something from him every time we interact, whether it’s an email or a board meeting.
On the last day of February, we have the great fortune to meet with Gerry Langeler of OVP Venture Partners in the Pacific Northwest. Gerry has been with OVP almost 20 years, joining in 1992 after founding Mentor Graphics Corporation (NASDAQ: MENT) and leading that company through its IPO. Today Gerry focuses his investments on digital energy, software, imaging and digital biology. He currently serves on the Board of Directors of Carbonflow, Collaborative Software Initiative, CradlePoint, EnerG2 and Max-Viz and is a Board Observer to DataSphere, Serus, Tigo Energy and Viral Logic Systems Technology (VLST).
Today we meet with Lynn-Ann Gries of JumpStart Ventures in Cleveland, Ohio. Prior to joining JumpStart in August 2001, Lynn-Ann worked in the Investment Banking division of McDonald Investments. At McDonald, she had extensive experience with public equity issuance and worked on stock offerings for many McDonald clients. Prior to joining McDonald, Lynn-Ann worked for Morgan Stanley in institutional equity sales and, prior to that, for Smith Barney in Project Finance. She currently serves on the board of the Fund of the Future of Shaker Heights, a not-for-profit organization dedicated to making pro-integrative home loans, the Great Lakes Science Center and Summer on the Cuyahoga, a summer internship program. She is also a partner in Cleveland Social Venture Partners (CSVP), a venture philanthropy organization. Read Lynn-Ann's posts on JumpStart's blog, IdeaExchange.
Q. From which industry sector do you think we will see the most innovation in the next 2 years?
A. Information Technology, more specifically anything related to (i) improvement of cloud computing performance, (ii) web analytics tools and (iii) B-2-C software tools for tablets.
Q. 2011 is the year of the....
A. ... exit.
Q. The biggest threat to the US venture capital industry is...
A. .... the inability of portfolio companies to access conventional bank financing.
Q. What is your favorite book of the last year?
A.As Always, Julia: The Letters of Julia Child and Avis DeVoto, by Joan Reardon
Q. Name a venture-backed company you are not invested in but wish you were.
A. TOA Technologies
Q. Name a practicing VC from another firm who you admire and why?
A. David Morgenthaler, because he invented venture capital right here in Cleveland Ohio, has been an enthusiastic supporter of JumpStart’s since our founding in 2004 and, even in retirement, is an active advisor to many in the industry who regularly seek his wise counsel
This month at NVCAccess, we’re launching “The Monday Meeting”, a new weekly feature which highlights a different venture investor each week by asking him or her a series of quick fire questions. Our first venture investor, Matthew Trevithick, is highlighted below. Check back each Monday to meet a new venture capitalist every week.
Q. From which industry sector do you think we will see the most innovation in the next 2 years?
A. Clean energy technology (I’m committed)!
Q. 2011 is the year of ....
A. ... natural gas
Q. The biggest threat to the U.S. venture capital industry is ....
A. ...the limited number of truly great entrepreneurial leaders who have the ability to will the improbable into widespread existence.
Q. What is your favorite book of the last year?
A. The Man Who Loved China: The Fantastic Story of the Eccentric Scientist Who Unlocked the Mysteries of the Middle Kingdom, by Simon Winchester
Q. Name a venture-backed company you are not invested in but wish you were.
A. Tesla
Q. Name a practicing VC from another firm who you admire and why.
A. Tim Draper. I’ve had the privilege of knowing the Draper family for years; Tim’s father invested in my second startup (LiquidMarket). Tim’s irrepressible empathy with entrepreneurs and optimism for the entrepreneurial process set an admirable standard for our profession.
