MassVentures
Minutes
MassVentures Board Meeting
Date and Time
Monday January 9, 2023 at 8:00 AM
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Meeting ID: 864 0110 5923
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Directors Present
C. Bouthot (remote), D. Schultheis (remote), H. Fruscio Altsman (remote), J. Griffin (remote), J. Hoch (remote), J. O'Reilly (remote), M. Attia (remote), M. James (remote), R. Jarquin (remote), W. Asher (remote)
Directors Absent
M. Valanzola
Guests Present
C. Hipwood, J. Madison, M. Wilcox (remote), P. Yadav, S. Leis (remote), S. Swider, V. Nijhawan
I. Opening Items
A.
Call the Meeting to Order
B.
Examples of Mission
C.
Highlights
Mr. Hipwood presented some highlights from the previous month.
II. Approvals
A.
Board Minutes
| Roll Call | |
|---|---|
| H. Fruscio Altsman |
Abstain
|
| C. Bouthot |
Aye
|
| R. Jarquin |
Aye
|
| J. Griffin |
Aye
|
| M. Valanzola |
Absent
|
| D. Schultheis |
Aye
|
| M. Attia |
Abstain
|
| W. Asher |
Aye
|
| J. O'Reilly |
Abstain
|
| M. James |
Abstain
|
| J. Hoch |
Aye
|
B.
Pre-Investment Action Sheet: ExtraSense
| Roll Call | |
|---|---|
| M. Attia |
Abstain
|
| R. Jarquin |
Aye
|
| W. Asher |
Aye
|
| J. Hoch |
Aye
|
| C. Bouthot |
Aye
|
| H. Fruscio Altsman |
Abstain
|
| M. Valanzola |
Absent
|
| D. Schultheis |
Aye
|
| J. O'Reilly |
Aye
|
| M. James |
Abstain
|
| J. Griffin |
Aye
|
C.
Pre-Investment Action Sheet: Talking Heads Wireless
| Roll Call | |
|---|---|
| J. Hoch |
Aye
|
| M. James |
Abstain
|
| R. Jarquin |
Aye
|
| C. Bouthot |
Aye
|
| D. Schultheis |
Aye
|
| M. Valanzola |
Absent
|
| W. Asher |
Aye
|
| J. Griffin |
Aye
|
| H. Fruscio Altsman |
Abstain
|
| J. O'Reilly |
Aye
|
| M. Attia |
Abstain
|
D.
Pre-Investment Action Sheet: Armored Things/Lambent Spaces
| Roll Call | |
|---|---|
| M. Attia |
Absent
|
| J. O'Reilly |
Aye
|
| W. Asher |
Aye
|
| D. Schultheis |
Aye
|
| J. Griffin |
Aye
|
| J. Hoch |
Aye
|
| R. Jarquin |
Aye
|
| M. Valanzola |
Absent
|
| H. Fruscio Altsman |
Absent
|
| C. Bouthot |
Aye
|
| M. James |
Absent
|
III. Financial Matters
A.
Treasurer's Report
Mr. Madison presented the Treasurer's report for October and November 2022. Discussion ensued.
B.
Approve Treasurer's Report
| Roll Call | |
|---|---|
| W. Asher |
Aye
|
| H. Fruscio Altsman |
Aye
|
| M. James |
Aye
|
| J. Hoch |
Aye
|
| J. Griffin |
Aye
|
| R. Jarquin |
Aye
|
| M. Valanzola |
Absent
|
| D. Schultheis |
Aye
|
| M. Attia |
Absent
|
| C. Bouthot |
Aye
|
| J. O'Reilly |
Aye
|
IV. Conflicts of Interest
A.
Conflicts
Mr. Hipwood presented a list of new investment opportunities being considered and asked that everyone review the list and announce any conflicts of interest. None were noted.
V. Executive Session
A.
Roll Call Vote to Enter Executive Session
| Roll Call | |
|---|---|
| R. Jarquin |
Aye
|
| M. Valanzola |
Absent
|
| J. Hoch |
Aye
|
| M. Attia |
Absent
|
| M. James |
Aye
|
| J. Griffin |
Aye
|
| H. Fruscio Altsman |
Aye
|
| D. Schultheis |
Aye
|
| J. O'Reilly |
Aye
|
| C. Bouthot |
Aye
|
| W. Asher |
Aye
|
B.
Presentation - Black I Robotics
The team from Black-I robotics presented an overview of their company and fundraise. Discussion ensued.
Aditya Basheer from A&F joined the meeting as an observer.
C.
Vote - Black I Robotics
| Roll Call | |
|---|---|
| R. Jarquin |
Aye
|
| D. Schultheis |
Aye
|
| J. Hoch |
Aye
|
| H. Fruscio Altsman |
Abstain
|
| M. James |
Aye
|
| C. Bouthot |
Aye
|
| W. Asher |
Aye
|
| J. O'Reilly |
Aye
|
| M. Valanzola |
Absent
|
| M. Attia |
Abstain
|
| J. Griffin |
Aye
|
D.
Presentation - Brilliant Strings
The team from Brilliant Strings presented information on their company and fundraise. Discussion ensued.
Mr. Attia left the meeting early.
E.
Vote - Brilliant Strings
| Roll Call | |
|---|---|
| C. Bouthot |
Aye
|
| H. Fruscio Altsman |
Abstain
|
| M. Valanzola |
Absent
|
| R. Jarquin |
Aye
|
| D. Schultheis |
Aye
|
| J. Hoch |
Aye
|
| M. Attia |
Abstain
|
| M. James |
Aye
|
| J. O'Reilly |
Aye
|
| W. Asher |
Aye
|
| J. Griffin |
Aye
|
Mr. Asher and Mr. Griffin left the meeting early.
F.
Preview - Eden Geopower
Mr. Nijhawan presented a preview of Eden Geo. Discussion ensued.
G.
Preview - Florrent
Ms. Yadav presented a preview of Florrent. Discussion ensued.
H.
Pipeline Report
I.
Portfolio Update
MassVentures staff provided updates on portfolio companies. Discussion ensued.
Mr. Griffin returned to the meeting
J.
Roll Call Vote to Return to Open Session
| Roll Call | |
|---|---|
| M. Attia |
Absent
|
| M. Valanzola |
Absent
|
| J. Hoch |
Aye
|
| J. O'Reilly |
Aye
|
| M. James |
Aye
|
| D. Schultheis |
Aye
|
| H. Fruscio Altsman |
Aye
|
| R. Jarquin |
Aye
|
| J. Griffin |
Aye
|
| C. Bouthot |
Aye
|
| W. Asher |
Absent
|
Ms. James left the meeting early
VI. President's Report
A.
General Update
Mr. Hipwood provided a general update on the business.
B.
MV Capital Update
MassVentures' staff provided updates on the various MV Capital programs. Discussion ensued.
C.
MV Accelerate Update
MassVentures' staff provided updates on the various MV Accelerate programs. Discussion ensued.
D.
Other Updates
Ms Wilcox provided an updated on MassVentures' marketing efforts.
It was noted that Ms. Fruscio Altsman is representing the Secretary of Economic Development as a designee. Mr. Attia and Mr. Basheer are representing Administration and Finance. Both departments are currently in transition.