MassVentures
Minutes
MassVentures Board Meeting
Date and Time
Thursday October 14, 2021 at 8:00 AM
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Directors Present
C. Bouthot, C. Stepno (remote), J. Hoch (remote), J. O'Reilly (remote), J. Turner (remote), M. Attia (remote), M. James (remote), M. Valanzola (remote), N. Collins (remote), R. Jarquin (remote), S. Asker (remote), W. Asher (remote)
Directors Absent
J. Lee
Directors who left before the meeting adjourned
M. Attia, M. James
Guests Present
C. Hipwood (remote), J. Madison (remote), P. Yadav (remote), S. Swider (remote), V. Nijhawan (remote)
I. Opening Items
A.
Call the Meeting to Order
S. Asker called a meeting of the board of directors of MassVentures to order on Thursday Oct 14, 2021 at 8:10 AM.
B.
Examples of Mission
C.
Audit Committee Report
Mr. Solomon and Ms. Pratt from Katz, Nannis and Solomon presented the audit findings and audit process. Discussion ensued.
C. Stepno made a motion to Approve the Audit Report as presented.
R. Jarquin seconded the motion.
The board VOTED unanimously to approve the motion.
II. Approvals
A.
Board Minutes
J. Turner made a motion to approve the minutes from MassVentures Board Meeting on 09-09-21.
W. Asher seconded the motion.
The board VOTED to approve the motion.
| Roll Call | |
|---|---|
| J. Lee |
Absent
|
| J. Turner |
Aye
|
| M. James |
Aye
|
| C. Stepno |
Aye
|
| C. Bouthot |
Aye
|
| J. O'Reilly |
Aye
|
| S. Asker |
Abstain
|
| W. Asher |
Aye
|
| J. Hoch |
Abstain
|
| M. Attia |
Aye
|
| R. Jarquin |
Aye
|
| N. Collins |
Aye
|
| M. Valanzola |
Aye
|
B.
Pre-investment action sheet - Jetcool
W. Asher made a motion to Approve the Jetcool pre-investment action sheet.
J. Turner seconded the motion.
The board VOTED unanimously to approve the motion.
C.
Pre-Investment Action Sheet - StataDX
C. Bouthot made a motion to Approve the StataDX pre-investment action sheet.
J. O'Reilly seconded the motion.
The board VOTED unanimously to approve the motion.
D.
Audit Committee Minutes from October 12, 2021
J. O'Reilly made a motion to approve the minutes from Audit Committee Meeting on 10-12-21.
C. Stepno 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 July and August 2021. Discussion ensued.
B.
Approve Treasurer's Report
S. Asker made a motion to Approve the Treasurer's Report as presented.
M. Valanzola 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 executive session to discuss confidential information of applicants for MassVentures' funds.
C. Stepno seconded the motion.
The board VOTED to approve the motion.
| Roll Call | |
|---|---|
| R. Jarquin |
Aye
|
| J. Turner |
Aye
|
| J. Hoch |
Aye
|
| W. Asher |
Aye
|
| N. Collins |
Aye
|
| S. Asker |
Aye
|
| M. James |
Aye
|
| C. Stepno |
Aye
|
| J. O'Reilly |
Aye
|
| J. Lee |
Absent
|
| M. Attia |
Aye
|
| M. Valanzola |
Aye
|
| C. Bouthot |
Aye
|
B.
Portfolio Update
Mr. Hipwood presented an update of portfolio companies.
C.
Aclarity Presentation and Q&A
Julie Bliss Mullen presented an overview of Aclarity followed by Q&A with the Board. Discussion ensued.
M. Attia left at 9:00 AM.
D.
Aclarity - Discussion for Potential Investment Approval
C. Bouthot made a motion to Approve investment in Aclarity subject to the terms to be outlined in the pre-investment action sheet.
W. Asher seconded the motion.
The board VOTED unanimously to approve the motion.
E.
Preview - QuantAQ
Mr. Nijhawan presented a preview of QuantAQ for potential due diligence.
F.
Preview - Ubicept
Ms. Swider presented a preview of QuantAQ for potential due diligence.
M. James left at 10:00 AM.
G.
Pipeline Report
Ms. Yadav presented an overview of the deal comparison sheet and deals that might be on the horizon.
H.
Roll Call Vote to Return to Open Session
W. Asher made a motion to Return to open session.
C. Stepno seconded the motion.
The board VOTED unanimously to approve the motion.
Mr. Hipwood noted that a vote took place to approve an investment in Aclarity.
V. Conflicts of Interest
A.
Conflict of Interest
Mr. Hipwood presented new deals along with the deal pipeline and asked for disclosure of potential conflicts of interest. Mr. Turner noted a potential conflict with QuantAQ.
VI. President's Report
A.
General Update
Mr. Hipwood presented the board meeting dates for calendar year 2022
W. Asher made a motion to Approve the Board meeting schedule for calendar year 2022.
M. Valanzola seconded the motion.
The board VOTED unanimously to approve the motion.
Mr. Hipwood provided an update on several strategic initiatives.
B.
Marketing/Messaging Update
Mr. Hipwood provided an update of the marketing program.
C.
MV Capital Update
MassVentures' staff provided an update on all MV Capital programs.
D.
MV Accelerate Update
MassVentures' staff provided an update on all MV Accelerate programs.
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 10:35 AM.
Respectfully Submitted,
W. Asher
Documents used during the meeting
- 101421 Board Book - Final.pdf
- 2021_09_09_board_meeting_minutes (1).pdf
- Pre-Investment Action Sheet_Jetcool.pdf
- Pre-Investment Action Sheet_StataDX.pdf
- Aclarity Bluebook Oct 2021.pdf
- QuantAQ Preview v1.1.pdf
- Ubicept board preview-Oct 2021.pdf
- Updated deal pipeline 100721.pdf
- Deal Comparison_September_October 2021.pdf