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MassVentures

Minutes

MassVentures Board Meeting

Date and Time

Thursday April 14, 2022 at 8:00 AM

Location

308 Congress Street (if in person)
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Directors Present

C. Bouthot (remote), D. Schultheis (remote), J. Hoch (remote), J. O'Reilly (remote), M. Attia (remote), M. James (remote), M. Valanzola (remote), R. Jarquin (remote), S. Asker (remote), W. Asher (remote)

Directors Absent

N. Collins

Directors who arrived after the meeting opened

J. Hoch

Directors who left before the meeting adjourned

J. Hoch

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

S. Asker called a meeting of the board of directors of MassVentures to order on Thursday Apr 14, 2022 at 8:03 AM.

B.

Examples of Mission

II. Approvals

A.

Board Minutes

W. Asher made a motion to approve the minutes from MassVentures Board Meeting on 03-17-22.
R. Jarquin seconded the motion.
The board VOTED unanimously to approve the motion.

B.

Expedited Investment Committee Minutes

R. Jarquin made a motion to approve the minutes from Expedited Investment Committee Meeting on 03-30-22.
W. Asher seconded the motion.
The board VOTED unanimously to approve the motion.

C.

Pre-investment action sheet - Harmony Baby

W. Asher made a motion to Approve the pre-investment action sheet for Harmony Baby.
J. O'Reilly seconded the motion.
The board VOTED unanimously to approve the motion.

D.

Pre-Investment Action Sheet - Aeroshield

S. Asker made a motion to Approve the pre-investment action sheet for Aeroshield.
C. Bouthot seconded the motion.
The board VOTED unanimously to approve the motion.

E.

Pre-Investment Action Sheet - Raven360

R. Jarquin made a motion to Approve the pre-investment action sheet for Raven360.
W. Asher seconded the motion.
The board VOTED unanimously to approve the motion.
J. Hoch left.

III. Financial Matters

A.

Treasurer's Report

Mr. Madison presented the treasurer's report for February 2022 month end.  Discussion ensued.

B.

Approve Treasurer's Report

J. O'Reilly made a motion to Approve the Treasurer's report as presented.
D. Schultheis 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 information related to applicants for MassVentures' funds.
R. Jarquin seconded the motion.
The board VOTED to approve the motion.
Roll Call
R. Jarquin
Aye
J. O'Reilly
Aye
D. Schultheis
Aye
C. Bouthot
Aye
S. Asker
Aye
N. Collins
Absent
J. Hoch
Absent
M. Valanzola
Aye
M. Attia
Aye
W. Asher
Aye
M. James
Aye

B.

Discuss - MVP Robotics

Mr. Hipwood presented a loan opportunity for the Revolving Loan Fund.  Discussion ensued.

C.

Vote MVP Robotics

M. Valanzola made a motion to Approve the loan as presented for MVP Robotics.
R. Jarquin seconded the motion.
The board VOTED unanimously to approve the motion.
J. Hoch arrived.

D.

Pipeline Report

Ms. Yadav presented a brief overview of companies that might be previewed at the next board meeting that are represented in the deal comparison sheet.

E.

Portfolio Update

Mr. Hipwood provided an update on several portfolio companies.  Discussion ensued.

F.

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
C. Bouthot
Aye
D. Schultheis
Aye
M. Attia
Aye
S. Asker
Aye
W. Asher
Aye
R. Jarquin
Aye
N. Collins
Absent
J. O'Reilly
Aye
M. Valanzola
Aye
M. James
Aye
J. Hoch
Aye

G.

Mr. Hipwood announced that a vote took place during executive session to approve a loan to MVP Robotics.

V. Conflicts of Interest

A.

Conflicts

Mr. Hipwood presented the new deals in the opportunity pipeline and asked the board members to announce any conflicts of interest.  None were noted.  

VI. President's Report

A.

SSTI Report

The Board discussed the SSTI report prepared for MassVentures and what implications that may mean for MassVentures' strategy.  

B.

Survey Results

The board discussed the results of the innovation economy survey conducted by MassVentures along with related strategy or policy implications.

C.

General Update

Mr. Hipwood provided a general update of activities at MassVentures.

D.

MV Capital Update

Mr. Hipwood provided an update of the START grant program.  Ms. Yadav provided an update of the Catalyst program.  

E.

MV Accelerate Update

Mr. Hipwood provided an update on the Commercialization Accelerator.  

F.

Other Updates

Ms. Wilcox provided an update on messaging and branding. 

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 10:07 AM.

Respectfully Submitted,
W. Asher