MassVentures
Minutes
MassVentures Board Meeting
Date and Time
Thursday February 10, 2022 at 8:00 AM
Location
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Meeting ID: 840-0424-4492
Password: 8792
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Directors Present
D. Schultheis (remote), J. Hoch (remote), J. O'Reilly (remote), M. James (remote), M. Valanzola (remote), N. Collins (remote), R. Jarquin (remote), S. Asker (remote), W. Asher (remote)
Directors Absent
C. Bouthot, M. Attia
Directors who left before the meeting adjourned
M. James, M. Valanzola
Guests Present
C. Hipwood (remote), J. Madison (remote), M. Wilcox (remote), P. Yadav (remote), S. Swider (remote), V. Nijhawan (remote)
I. Opening Items
A.
Call the Meeting to Order
B.
Examples of Mission
II. Approvals
A.
Board Minutes
B.
Pre-investment action sheet - Seaspire
C.
Pre-Investment Action Sheet - Concerto
D.
Pre-Investment Action Sheet - Libboo
E.
Pre-Investment Action Sheet - Harvest Automation
F.
Pre-Investment Action Sheet - Ginkgo
III. Financial Matters
A.
Treasurer's Report
Mr. Madison presented the financial report for month end December 2021. Discussion ensued.
B.
Approve Treasurer's Report
IV. Executive Session
A.
Roll Call Vote to Enter Executive Session
| Roll Call | |
|---|---|
| N. Collins |
Aye
|
| M. James |
Aye
|
| M. Valanzola |
Aye
|
| J. O'Reilly |
Aye
|
| J. Hoch |
Aye
|
| C. Bouthot |
Absent
|
| M. Attia |
Absent
|
| W. Asher |
Aye
|
| R. Jarquin |
Aye
|
| S. Asker |
Aye
|
| D. Schultheis |
Aye
|
Mr. Hipwood noted that the member of the public was asked to wait in the waiting room until executive session was complete.
B.
Adden Energy Presentation
Adden Energy presented an overview of the Company and the fundraise followed by Q&A.
C.
Adden Energy - Discussion for Potential Investment
The board discussed the merits of a potential investment in Adden Energy.
D.
Vote - Adden Energy
E.
Preview - Harmony Baby
Ms. Yadav presented a preview of Harmony Baby. Discussion ensued.
F.
Preview - AeroShield
Mr. Nijhawan presented a preview of Aeroshield. Discussion ensued.
G.
Preview - Aura
Ms. Swider presented a preview of Aura AI. Discussion ensued.
H.
Pipeline Report
Mr. Hipwood presented an overview of the pipeline of investment opportunities.
I.
Portfolio Update
Mr. Hipwood presented an overview of the current portfolio company progress and performance.
J.
Roll Call Vote to Return to Open Session
| Roll Call | |
|---|---|
| W. Asher |
Aye
|
| R. Jarquin |
Aye
|
| J. Hoch |
Aye
|
| J. O'Reilly |
Aye
|
| D. Schultheis |
Aye
|
| N. Collins |
Aye
|
| M. Attia |
Absent
|
| M. Valanzola |
Absent
|
| S. Asker |
Aye
|
| C. Bouthot |
Absent
|
| M. James |
Absent
|
Mr. Hipwood welcomed the member of the public back to open session.
Mr. Hipwood noted that one vote took place in executive session related to potential investment in Adden Energy.
V. Conflicts of Interest
A.
Conflicts
Mr. Hipwood presented the newest opportunities in the investment pipeline and asked for everyone to check for conflicts of interest and make any conflicts of interest known. No conflicts were noted.
VI. President's Report
A.
Marketing/Messaging Update
Ms. Wilcox provided an overview of the marketing initiatives as well as an update on draft messaging. Discussion ensued.
B.
General Update
Mr. Hipwood provided a general update of MassVentures activities.
C.
MV Capital Update
Mr. Hipwood provided an update of investment and grant activities.
D.
MV Accelerate Update
Mr. Hipwood provided an overview of MV Accelerate activities
E.
Other Updates
Mr. Hipwood noted that the State Ethics Commission and the Executive Office of Housing and Economic Development gave him permission to invest in public securities of Ginkgo Bioworks. Mr. Hipwood would need to abstain from any future discussions of actions related to MassVentures holding in Ginkgo Bioworks.
Any staff or Board member who also wishes to make a personal investment in shares of Ginkgo Bioworks would need to go through the same process of approval before investing.
Mr. Hipwood noted that one member of the public was present for the meeting.