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MassVentures

Minutes

MassVentures Board Meeting

Date and Time

Monday February 23, 2026 at 9:00 AM

Location

1075 Main Street, Suite 100

Waltham, MA 02451

 

 

Directors Present

B. Shim (remote), D. Schultheis (remote), E. Kennedy (remote), E. Paley (remote), J. O'Reilly (remote), L. Wittenberg (remote), M. Cowan (remote), M. James (remote), R. Jarquin (remote), R. Wilcox (remote)

Directors Absent

B. Linville-Engler

Directors who arrived after the meeting opened

M. Cowan

Directors who left before the meeting adjourned

R. Jarquin

Guests Present

C. Hipwood (remote), J. Madison (remote), M. Kassaraba (remote), M. Snow (remote), P. Yadav (remote), S. Leis (remote), S. Swider (remote), V. Nijhawan (remote), W. Leslie (remote), Z. Moochhala (remote)

I. Opening Items

A.

Call the Meeting to Order

E. Paley called a meeting of the board of directors of MassVentures to order on Monday Feb 23, 2026 at 9:03 AM.

B.

Examples of Mission

Mr. Hipwood provided examples of mission.

C.

Highlights

Mr. Hipwood noted some highlights since the last meeting.

II. Approvals

A.

Board Minutes

L. Wittenberg made a motion to approve the minutes from MassVentures Board Meeting on 01-12-26.
E. Paley seconded the motion.
The board VOTED to approve the motion.
Roll Call
B. Shim
Aye
D. Schultheis
Aye
E. Kennedy
Aye
B. Linville-Engler
Absent
E. Paley
Aye
M. Cowan
Absent
R. Jarquin
Aye
J. O'Reilly
Aye
M. James
Aye
R. Wilcox
Abstain
L. Wittenberg
Aye

B.

Pre-Investment Action Sheet - EverestBio

D. Schultheis made a motion to Approve the pre-investment action sheet for EverestBio.
J. O'Reilly seconded the motion.
The board VOTED to approve the motion.
Roll Call
R. Jarquin
Aye
J. O'Reilly
Aye
D. Schultheis
Aye
L. Wittenberg
Aye
B. Shim
Aye
M. James
Aye
B. Linville-Engler
Absent
E. Paley
Aye
R. Wilcox
Abstain
E. Kennedy
Aye
M. Cowan
Absent

III. Financial Matters

A.

Treasurer's Report

Mr. Madison presented the Treasurer's report for month end December 2025.  Discussion ensued. 

B.

Approve Treasurer's Report

J. O'Reilly made a motion to Approve the Treasurer's report.
L. Wittenberg seconded the motion.
The board VOTED to approve the motion.
Roll Call
J. O'Reilly
Aye
B. Shim
Aye
E. Kennedy
Aye
M. James
Aye
L. Wittenberg
Aye
D. Schultheis
Aye
R. Wilcox
Aye
E. Paley
Aye
M. Cowan
Absent
R. Jarquin
Aye
B. Linville-Engler
Absent

IV. Conflicts of Interest

A.

Conflicts

Mr. Hipwood presented a list of companies under investment consideration and asked that any conflicts of interest be declared.  None were noted.  

V. Executive Session

A.

Roll Call Vote to Enter Executive Session

D. Schultheis made a motion to Enter into executive session to discuss confidential information related to applicants of MassVentures funds.
M. James seconded the motion.
The board VOTED to approve the motion.
Roll Call
D. Schultheis
Aye
E. Kennedy
Aye
R. Wilcox
Aye
R. Jarquin
Aye
E. Paley
Aye
J. O'Reilly
Aye
B. Shim
Aye
M. Cowan
Absent
M. James
Aye
B. Linville-Engler
Absent
L. Wittenberg
Aye
M. Cowan arrived at 8:32 AM.

B.

Envision Endoscopy Discussion

Mr. Nijhawan provided an updated on Envision Endoscopy and presented an opportunity to participate in a follow-on round.  Discussion ensued.  

C.

Envision Endoscopy Vote

R. Jarquin made a motion to Approve a follow-on investment in Envision Endoscopy.
L. Wittenberg seconded the motion.
The board VOTED to approve the motion.
Roll Call
E. Paley
Aye
M. James
Aye
J. O'Reilly
Aye
D. Schultheis
Aye
M. Cowan
Aye
R. Jarquin
Aye
E. Kennedy
Aye
R. Wilcox
Aye
B. Shim
Aye
L. Wittenberg
Aye
B. Linville-Engler
Absent

D.

StataDX Discussion

Mr. Nijhawan provided an updated on StataDx and presented an opportunity to participate in a follow-on round.  Discussion ensued.  

E.

StataDX Vote

R. Jarquin made a motion to Approve follow-on funding for StataDx.
L. Wittenberg seconded the motion.
The board VOTED to approve the motion.
Roll Call
M. Cowan
Aye
L. Wittenberg
Aye
E. Paley
Aye
M. James
Aye
J. O'Reilly
Aye
B. Linville-Engler
Absent
D. Schultheis
Aye
R. Wilcox
Aye
E. Kennedy
Aye
B. Shim
Aye
R. Jarquin
Aye

F.

Via Scientific Preview

Ms. Swider presented an investment preview of Via Scientific.  Discussion ensued.  

G.

Pipeline Report

H.

Portfolio Update

Mr. Hipwood provided portfolio updates.  Discussion ensued.  

I.

Roll Call Vote to Return to Open Session

L. Wittenberg made a motion to Return to open session.
E. Paley seconded the motion.
The board VOTED to approve the motion.
Roll Call
D. Schultheis
Aye
L. Wittenberg
Aye
E. Kennedy
Aye
M. James
Aye
B. Shim
Aye
R. Wilcox
Aye
E. Paley
Aye
R. Jarquin
Aye
J. O'Reilly
Aye
M. Cowan
Aye
B. Linville-Engler
Absent

Mr. Hipwood announced that 2 investments were approved during executive session.

R. Jarquin left.

VI. President's Report

A.

General Update

Mr. Hipwood provided a general update on the business.  

B.

MV Capital Update

Mr. Hipwood and Ms. Swider provided an update on the START program.  

C.

MV Accelerate Update

VII. Closing Items

A.

Adjourn Meeting

There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 11:05 AM.

Respectfully Submitted,
L. Wittenberg