MassVentures
Minutes
MassVentures Board Meeting
Date and Time
Thursday September 8, 2022 at 8:00 AM
Location
Directors Present
C. Bouthot (remote), D. Schultheis (remote), J. Griffin (remote), J. O'Reilly (remote), M. Attia (remote), M. Valanzola (remote), R. Jarquin (remote), S. Asker (remote), W. Asher (remote)
Directors Absent
J. Hoch, M. James
Directors who left before the meeting adjourned
M. Attia
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
C.
Highlights
Mr. Hipwood presented highlights since the prior meeting.
II. President's Report
A.
General Update
Mr. Hipwood gave a general update on the business.
III. Approvals
A.
Board Minutes
B.
Pre-investment action sheet - Talking Heads Wireless
C.
Amended Pre Investment Action Sheet - Harmony Baby
D.
Pre Investment Action Sheet - JetCool
IV. Financial Matters
A.
Treasurer's Report
Mr. Madison provided a financial update as of June 30, 2022. Discussion ensued.
B.
Approve Treasurer's Report
C.
Bank Signatory Confirmation
D.
Transfer of Restricted Funds
V. Conflicts of Interest
A.
Conflicts
Mr. Hipwood presented a list of new companies applying for MassVentures' funds and asked the Board to announce any conflicts of interest. No conflicts were noted.
VI. Executive Session
A.
Roll Call Vote to Enter Executive Session
Roll Call | |
---|---|
C. Bouthot |
Aye
|
J. Hoch |
Absent
|
D. Schultheis |
Aye
|
M. Valanzola |
Aye
|
M. James |
Absent
|
S. Asker |
Aye
|
R. Jarquin |
Aye
|
M. Attia |
Absent
|
J. Griffin |
Aye
|
W. Asher |
Aye
|
J. O'Reilly |
Aye
|
B.
Presentation - InGel Therapeutics
InGel Therapeutics presented information about the company and the capital raise. Discussion ensued.
C.
Vote - InGel Therapeutics
D.
Preview - ExtraSense
Ms. Yadav presented a preview of a potential investment opportunity in ExtraSense. Discussion ensued.
E.
Preview - Brilliant Strings
Ms. Swider presented a preview of a potential investment opportunity in Brilliant Strings. Discussion ensued.
F.
Pipeline Report
G.
Portfolio Update
H.
Valuation Reports
Mr. Madison and Mr. Hipwood presented an overview of valuation methodology and updates to portfolio valuations. Discussion ensued.
Mr. Hipwood, Mr. Nijhawan, Ms. Yadav, Ms. Swider, Mr. Madison, Ms. Leis, and Ms. Wilcox left the meeting.
I.
Comp Committee Report
The Board discussed the Comp Committee report and recommendations. The Board reviewed and discussed compensation decisions re base salary increases, bonuses. The Board discussed the resolutionl to undertake consideration of comp and bonus policies for fiscal 2023
J.
Vote to Approve the Comp Committee Recommendation
Roll Call | |
---|---|
J. Griffin |
Aye
|
C. Bouthot |
Aye
|
W. Asher |
Aye
|
M. Attia |
Absent
|
D. Schultheis |
Aye
|
R. Jarquin |
Aye
|
S. Asker |
Aye
|
J. Hoch |
Absent
|
M. Valanzola |
Aye
|
M. James |
Absent
|
J. O'Reilly |
Aye
|
K.
Roll Call Vote to Return to Open Session
Roll Call | |
---|---|
J. Hoch |
Absent
|
W. Asher |
Aye
|
J. Griffin |
Aye
|
S. Asker |
Aye
|
D. Schultheis |
Aye
|
M. Attia |
Absent
|
J. O'Reilly |
Aye
|
M. James |
Absent
|
M. Valanzola |
Aye
|
R. Jarquin |
Aye
|
C. Bouthot |
Aye
|
L.
Comp Committee Minutes
Roll Call | |
---|---|
J. Griffin |
Aye
|
D. Schultheis |
Aye
|
R. Jarquin |
Aye
|
C. Bouthot |
Aye
|
M. James |
Absent
|
J. Hoch |
Absent
|
S. Asker |
Aye
|
M. Attia |
Absent
|
J. O'Reilly |
Aye
|
W. Asher |
Aye
|
M. Valanzola |
Aye
|
Mr. Hipwood and Ms. Yadav provided examples of mission.