MassVentures
Minutes
MassVentures Board Meeting
Date and Time
Thursday June 23, 2022 at 8:00 AM
Location
Directors Present
C. Bouthot (remote), D. Schultheis (remote), J. Griffin (remote), J. Hoch (remote), J. O'Reilly (remote), M. James (remote), O. Hazoury (remote), R. Jarquin (remote), S. Asker (remote), W. Asher (remote)
Directors Absent
M. Attia, M. Valanzola
Directors who left before the meeting adjourned
C. Bouthot, M. James, O. Hazoury
Guests Present
C. Hipwood (remote), J. Madison (remote), M. Wilcox (remote), P. Yadav (remote), S. Leis (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
Roll Call | |
---|---|
J. Hoch |
Aye
|
C. Bouthot |
Aye
|
M. Valanzola |
Absent
|
S. Asker |
Aye
|
M. James |
Aye
|
D. Schultheis |
Aye
|
J. Griffin |
Aye
|
J. O'Reilly |
Aye
|
O. Hazoury |
Abstain
|
M. Attia |
Absent
|
R. Jarquin |
Aye
|
W. Asher |
Aye
|
B.
Pre-investment action sheet - Leuko
Roll Call | |
---|---|
M. Attia |
Absent
|
C. Bouthot |
Aye
|
J. O'Reilly |
Aye
|
J. Hoch |
Aye
|
M. James |
Aye
|
M. Valanzola |
Absent
|
D. Schultheis |
Aye
|
S. Asker |
Aye
|
J. Griffin |
Aye
|
O. Hazoury |
Abstain
|
W. Asher |
Aye
|
R. Jarquin |
Aye
|
III. Financial Matters
A.
Treasurer's Report
B.
Approve Treasurer's Report
Roll Call | |
---|---|
C. Bouthot |
Aye
|
J. O'Reilly |
Aye
|
R. Jarquin |
Aye
|
S. Asker |
Aye
|
M. Attia |
Absent
|
M. James |
Aye
|
D. Schultheis |
Aye
|
J. Hoch |
Aye
|
J. Griffin |
Aye
|
M. Valanzola |
Absent
|
O. Hazoury |
Abstain
|
W. Asher |
Aye
|
C.
FY 2023 Budget Presentation
Mr. Madison and Mr. Hipwood presented the Fiscal Year 2023 budget. Discussion ensued.
D.
FY 2023 Approval
Roll Call | |
---|---|
M. Attia |
Absent
|
O. Hazoury |
Abstain
|
S. Asker |
Aye
|
M. Valanzola |
Absent
|
J. Hoch |
Aye
|
J. Griffin |
Aye
|
M. James |
Aye
|
R. Jarquin |
Aye
|
J. O'Reilly |
Aye
|
D. Schultheis |
Aye
|
C. Bouthot |
Aye
|
W. Asher |
Aye
|
IV. Executive Session
A.
Roll Call Vote to Enter Executive Session
Roll Call | |
---|---|
R. Jarquin |
Aye
|
C. Bouthot |
Aye
|
O. Hazoury |
Aye
|
J. Griffin |
Aye
|
M. Valanzola |
Absent
|
D. Schultheis |
Aye
|
J. O'Reilly |
Aye
|
S. Asker |
Aye
|
M. James |
Aye
|
M. Attia |
Absent
|
J. Hoch |
Aye
|
W. Asher |
Aye
|
B.
Presentation - Cyvl.ai
The founder of Cyvl.ai gave a presentation on his company and his fund raise. Discussion ensued.
C. Tonucci arrived.
C.
Vote - Cyvl.ai
Roll Call | |
---|---|
R. Jarquin |
Aye
|
D. Schultheis |
Aye
|
J. Hoch |
Aye
|
J. O'Reilly |
Abstain
|
W. Asher |
Aye
|
M. Valanzola |
Absent
|
O. Hazoury |
Aye
|
M. Attia |
Absent
|
M. James |
Aye
|
S. Asker |
Aye
|
C. Bouthot |
Aye
|
J. Griffin |
Aye
|
C. Tonucci left.
D.
Preview - Ingel
Mr. Nijhawan gave a preview of an opportunity to invest in InGel Therapeutics. Discussion ensued.
E.
Preview - 1854 Cycling
Ms. Yadav gave a preview of an opportunity to invest in 1854 Cycling. Discussion ensued.
F.
Preview - Organicin
Ms. Swider gave a preview of an opportunity to invest in Organicin. Discussion ensued.
G.
Pipeline Report
Mr. Hipwood provided an overview of the opportunity pipeline.
H.
Portfolio Update
MassVentures staff provided updates on select portfolio companies.
I.
Roll Call Vote to Return to Open Session
Roll Call | |
---|---|
S. Asker |
Aye
|
C. Bouthot |
Absent
|
O. Hazoury |
Absent
|
D. Schultheis |
Aye
|
W. Asher |
Aye
|
M. James |
Absent
|
J. Hoch |
Aye
|
J. Griffin |
Aye
|
R. Jarquin |
Aye
|
J. O'Reilly |
Aye
|
M. Attia |
Absent
|
M. Valanzola |
Absent
|
Mr. Hipwood noted that one vote took place during executive session related to investment in Cyvl.ai.
V. Conflicts of Interest
A.
Conflicts
Mr. Hipwood presented a chart of new investment opportunities and asked the board to declare any possible conflicts on interest. Ms. O'Reilly noted a conflict with Cyvl.ai and that she had abstained from voting on investment in Cyvl.ai during executive session.
VI. President's Report
A.
General Update
Mr. Hipwood provided general updates on the business.
Ms. Wilcox provided an update on marketing initiatives.
B.
MV Accelerate Update
MassVentures staff provided updates on MV Accelerate programs. Ms. Leis provided an update on the MassCEC diversity project.
C.
MV Capital Update
MassVentures staff provided updates on MV Capital programs.
Mr. Madison presented the Treasurer's Report for month end April 2022.