MassVentures
Minutes
MassVentures Board Meeting
Date and Time
Thursday May 19, 2022 at 8:00 AM
Location
Directors Present
C. Bouthot (remote), D. Schultheis (remote), J. Hoch (remote), J. O'Reilly (remote), M. Attia (remote), M. James (remote), M. Valanzola (remote), S. Asker (remote), W. Asher (remote)
Directors Absent
R. Jarquin
Directors who left before the meeting adjourned
M. Attia, M. James
Guests Present
C. Hipwood, J. Madison, M. Wilcox, P. Yadav, S. Leis, S. Swider, V. Nijhawan
I. Opening Items
A.
Call the Meeting to Order
B.
Introductions
C.
Examples of Mission
Mr. Hipwood presented several examples of how MassVentures is achieving its mission.
II. Approvals
A.
Board Minutes
B.
Pre-investment action sheet - MVP Robotics
C.
START Winners
D.
Commonwealth Fund IV
III. Financial Matters
A.
Treasurer's Report
Mr. Madison presented the financial report for month end March 2022. Discussion ensued.
B.
Approve Treasurer's Report
IV. Executive Session
A.
Roll Call Vote to Enter Executive Session
| Roll Call | |
|---|---|
| J. O'Reilly |
Aye
|
| M. Attia |
Aye
|
| R. Jarquin |
Absent
|
| M. James |
Aye
|
| W. Asher |
Aye
|
| S. Asker |
Aye
|
| M. Valanzola |
Aye
|
| D. Schultheis |
Aye
|
| C. Bouthot |
Aye
|
| J. Hoch |
Aye
|
B.
Preview - Piction
Ms. Swider presented an overview of Piction for potential due diligence. Discussion ensued.
C.
Preview - Cyvl.ai
Ms. Yadav presented an overview of Cyvl.ai for potential due diligence. Discussion ensued.
D.
Pipeline Report
Ms. Yadav indicated that there are several new deals under consideration with possible previews at the next board meeting.
E.
Portfolio Update
MassVentures' staff provided updates for each of the portfolio companies.
F.
Presentation - Leuko Labs
Leuko Labs joined the meeting to present an overview of their company and financing needs. Discussion ensued.
G.
Vote - Leuko Labs
H.
Roll Call Vote to Return to Open Session
| Roll Call | |
|---|---|
| C. Bouthot |
Aye
|
| S. Asker |
Aye
|
| M. Attia |
Absent
|
| W. Asher |
Aye
|
| M. Valanzola |
Aye
|
| D. Schultheis |
Aye
|
| J. O'Reilly |
Aye
|
| M. James |
Absent
|
| R. Jarquin |
Absent
|
| J. Hoch |
Aye
|
Mr. Hipwood announced that a vote took place during executive session related to investment in Leuko Labs.
V. Conflicts of Interest
A.
Conflicts
Mr. Hipwood presented new potential candidates for MassVentures funds and ask for any conflicts of interest to be announced. Mr. Asher informed the board that he has a conflict of interest with Unruly Studios.
VI. President's Report
A.
General Update
Mr. Hipwood provided a general update on the business.
Ms. Wilcox provided an update on the new logo and website.
B.
MV Capital Update
MassVentures' staff provided updates on the various grant, loan and investment programs.
C.
MV Accelerate Update
MassVentures' staff provided updates on the various accelerator programs.
Justin Griffin, new board member who will be sworn in on May 25th, introduced himself to the board and stayed for the meeting as a board observer. New Venture Development Manager, Sienna Leis, also introduced herself to the board and vice versa.