MassVentures
Minutes
MassVentures Board Meeting
Date and Time
Thursday May 20, 2021 at 8:00 AM
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https://us02web.zoom.us/j/85798657669?pwd=c3hkSDdwTkh2VGpCMlVqVUpMY2lFdz09
Meeting ID: 857-9865-7669
Password: 2979
Dial by your location
(929) 205 6099
Directors Present
C. Bouthot (remote), C. Stepno (remote), D. Cox (remote), J. O'Reilly (remote), J. Turner (remote), M. Attia (remote), M. James (remote), N. Collins (remote), R. Jarquin (remote), W. Asher (remote)
Directors Absent
A. Stolba
Directors who left before the meeting adjourned
M. Attia, R. Jarquin
Guests Present
C. Hipwood (remote), J. Allen (remote), J. Madison (remote), M. Snow (remote), M. Wilcox (remote), P. Yadav (remote), V. Nijhawan (remote)
I. Opening Items
A.
Call the Meeting to Order
D. Cox called a meeting of the board of directors of MassVentures to order on Thursday May 20, 2021 at 8:01 AM.
B.
Examples of Mission
II. Approvals
A.
Board Minutes
J. Turner made a motion to approve the minutes from MassVentures Board Meeting on 04-15-21.
C. Stepno seconded the motion.
The board VOTED unanimously to approve the motion.
B.
Approve START Winners
W. Asher made a motion to Approve the START winners.
J. Turner seconded the motion.
The board VOTED unanimously to approve the motion.
III. Financial Matters
A.
Treasurer's Report
Mr. Madison presented the Treasurer's report for the month ending March 31, 2021.
B.
Approve Treasurer's Report
J. O'Reilly made a motion to Approve the Treasurer's report.
R. Jarquin seconded the motion.
The board VOTED unanimously to approve the motion.
IV. Executive Session
A.
Roll Call Vote to Enter Executive Session
W. Asher made a motion to Enter into Executive Session to discuss confidential matters of applicants for MassVentures' funds.
R. Jarquin seconded the motion.
The board VOTED to approve the motion.
| Roll Call | |
|---|---|
| J. Turner |
Aye
|
| A. Stolba |
Absent
|
| D. Cox |
Aye
|
| R. Jarquin |
Aye
|
| N. Collins |
Aye
|
| J. O'Reilly |
Aye
|
| W. Asher |
Aye
|
| M. James |
Aye
|
| C. Stepno |
Aye
|
| M. Attia |
Aye
|
| C. Bouthot |
Aye
|
B.
Mesodyne
Mr. Snow presented findings related to an opportunity to invest in Mesodyne. Additionally, the CEO and CTO joined to answer questions from the Board.
M. Attia left at 9:15 AM.
C.
SeaSpire
Mr. Allen presented findings related to an opportunity to invest in Seaspire. Additionally, the CEO and CTO joined answer questions from the Board.
W. Asher made a motion to Approve an investment in Seaspire as outlined in the Pre-Investment Action sheet.
M. James seconded the motion.
The board VOTED unanimously to approve the motion.
D.
Preview - Electra Vehicles
Mr. Nijhawan presented a preview of Electra Vehicles.
E.
Preview - Inkbit
Mr. Hipwood presented a preview for an investment opportunity in Inkbit. Mr. Hipwood noted that Inkbit is a former START winner in which MassVentures has investment rights. Mr. Hipwood also noted that this is a Series B investment. The board discussed the pros and cons of investing in a later stage company. The board agreed that MassVentures should continue due diligence and consider possible investment.
F.
Preview - Detrapel (RLF)
Mr. Hipwood presented a preview of Detrapel.
G.
Pipeline Report
H.
Portfolio Update
Mr. Hipwood provided an update of MassVentures' portfolio companies.
R. Jarquin left at 10:30 AM.
I.
Roll Call Vote to Return to Open Session
W. Asher made a motion to Return to Open Session.
R. Jarquin seconded the motion.
The board VOTED to approve the motion.
| Roll Call | |
|---|---|
| M. Attia |
Absent
|
| C. Bouthot |
Aye
|
| D. Cox |
Aye
|
| J. O'Reilly |
Aye
|
| N. Collins |
Aye
|
| W. Asher |
Aye
|
| C. Stepno |
Aye
|
| R. Jarquin |
Absent
|
| A. Stolba |
Absent
|
| M. James |
Aye
|
| J. Turner |
Aye
|
V. Conflicts of Interest
A.
Conflicts of Interest
Mr. Hipwood presented the new companies in the opportunity pipeline and asked members of the Board to disclose any conflicts of interest. Mr. Asher indicated a conflict of interest with regards to QSM.
VI. President's Report
A.
General Update
Mr. Hipwood provided a brief update on the MV Capital and MV Accelerate programs.
B.
Marketing/Messaging Update
C.
MV Capital Update
D.
MV Accelerate Update
E.
Other Updates
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 10:57 AM.
Respectfully Submitted,
W. Asher