MassVentures
Minutes
MassVentures Board Meeting
Date and Time
Monday February 13, 2023 at 8:00 AM
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Directors Present
A. Basheer (remote), C. Bouthot (remote), C. Tonucci (remote), D. Schultheis (remote), H. Fruscio Altsman, J. Griffin (remote), J. Hoch (remote), J. O'Reilly (remote), M. Valanzola (remote), O. Hazoury (remote), R. Jarquin (remote), W. Asher
Directors Absent
M. James
Directors who left before the meeting adjourned
C. Bouthot, C. Tonucci, O. Hazoury
Guests Present
C. Hipwood, J. Madison (remote), 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
Mr. Hipwood presented some examples of MassVentures' staff working within the innovation economy to expand the mission.
C.
Highlights
Mr. Hipwood highlighted some achievements since the previous meeting.
II. Approvals
A.
Board Minutes
Roll Call | |
---|---|
J. Hoch |
Aye
|
C. Tonucci |
Abstain
|
H. Fruscio Altsman |
Aye
|
J. Griffin |
Aye
|
D. Schultheis |
Aye
|
W. Asher |
Aye
|
C. Bouthot |
Absent
|
R. Jarquin |
Aye
|
J. O'Reilly |
Aye
|
O. Hazoury |
Abstain
|
A. Basheer |
Aye
|
M. James |
Absent
|
M. Valanzola |
Aye
|
B.
Pre-Investment Action Sheet: Black-I Robotics
Roll Call | |
---|---|
J. Griffin |
Aye
|
R. Jarquin |
Aye
|
C. Bouthot |
Absent
|
M. James |
Absent
|
D. Schultheis |
Aye
|
J. O'Reilly |
Aye
|
O. Hazoury |
Abstain
|
C. Tonucci |
Abstain
|
A. Basheer |
Aye
|
J. Hoch |
Aye
|
M. Valanzola |
Aye
|
W. Asher |
Aye
|
H. Fruscio Altsman |
Aye
|
C.
Pre-Investment Action Sheet: BrilliantStrings
Roll Call | |
---|---|
J. O'Reilly |
Aye
|
W. Asher |
Aye
|
O. Hazoury |
Abstain
|
M. James |
Absent
|
H. Fruscio Altsman |
Aye
|
J. Griffin |
Aye
|
C. Tonucci |
Abstain
|
A. Basheer |
Aye
|
R. Jarquin |
Aye
|
M. Valanzola |
Aye
|
J. Hoch |
Aye
|
C. Bouthot |
Absent
|
D. Schultheis |
Aye
|
III. Financial Matters
A.
Treasurer's Report
Mr. Madison presented the treasurer's report for month-end December 2022.
B.
Approve Treasurer's Report
Roll Call | |
---|---|
A. Basheer |
Aye
|
W. Asher |
Aye
|
M. Valanzola |
Aye
|
C. Bouthot |
Absent
|
J. Hoch |
Aye
|
H. Fruscio Altsman |
Aye
|
O. Hazoury |
Abstain
|
M. James |
Absent
|
J. O'Reilly |
Aye
|
D. Schultheis |
Aye
|
C. Tonucci |
Abstain
|
R. Jarquin |
Aye
|
J. Griffin |
Aye
|
IV. Conflicts of Interest
A.
Conflicts
Mr. Hipwood presented a list of new companies under consideration for MassVentures funding and asked the board members to declare any conflicts of interest. None were declared.
V. Executive Session
A.
Roll Call Vote to Enter Executive Session
Roll Call | |
---|---|
C. Tonucci |
Aye
|
J. O'Reilly |
Aye
|
M. Valanzola |
Aye
|
H. Fruscio Altsman |
Aye
|
J. Hoch |
Aye
|
R. Jarquin |
Aye
|
M. James |
Absent
|
W. Asher |
Aye
|
A. Basheer |
Aye
|
D. Schultheis |
Aye
|
J. Griffin |
Aye
|
C. Bouthot |
Absent
|
O. Hazoury |
Aye
|
B.
Presentation - florrent
The team from florrent presented their business plan and request for funding. Discussion ensued.
C.
Vote - florrent
Roll Call | |
---|---|
D. Schultheis |
Aye
|
J. Griffin |
Aye
|
C. Tonucci |
Aye
|
H. Fruscio Altsman |
Aye
|
A. Basheer |
Aye
|
J. Hoch |
Aye
|
C. Bouthot |
Absent
|
J. O'Reilly |
Aye
|
O. Hazoury |
Aye
|
M. James |
Absent
|
W. Asher |
Aye
|
M. Valanzola |
Aye
|
R. Jarquin |
Aye
|
D.
Presentation - Eden Geo
The team from Eden Geo presented their business plan and request for funding. Discussion ensued.
E.
Vote - Eden Geo
Roll Call | |
---|---|
W. Asher |
Aye
|
A. Basheer |
Abstain
|
R. Jarquin |
Aye
|
C. Tonucci |
Aye
|
D. Schultheis |
Aye
|
J. O'Reilly |
Aye
|
C. Bouthot |
Absent
|
J. Griffin |
Aye
|
J. Hoch |
Abstain
|
M. James |
Absent
|
O. Hazoury |
Aye
|
H. Fruscio Altsman |
Abstain
|
M. Valanzola |
Aye
|
F.
Presentation - Atlantic Quantum
The team from Atlantic Quantum presented their business plan and request for funding. Discussion ensued.
G.
Vote - Atlantic Quantum
Roll Call | |
---|---|
O. Hazoury |
Absent
|
C. Bouthot |
Absent
|
J. Hoch |
Aye
|
H. Fruscio Altsman |
Aye
|
M. Valanzola |
Abstain
|
R. Jarquin |
Aye
|
J. Griffin |
Aye
|
A. Basheer |
Aye
|
M. James |
Absent
|
W. Asher |
Aye
|
C. Tonucci |
Absent
|
D. Schultheis |
Aye
|
J. O'Reilly |
Aye
|
H.
Preview - Phuc Labs
Ms. Swider presented an preview of a company that will be going through deep due diligence. Discussion ensued.
I.
Preview - Irradiant
Mr. Nijhawan presented an preview of a company that will be going through deep due diligence. Discussion ensued.
J.
Pipeline Report
K.
Portfolio Update
Mr. Hipwood presented an overview of semi-annual valuation updates. Discussion ensued.
L.
Roll Call Vote to Return to Open Session
Roll Call | |
---|---|
D. Schultheis |
Aye
|
O. Hazoury |
Absent
|
C. Bouthot |
Absent
|
M. Valanzola |
Aye
|
J. Hoch |
Aye
|
C. Tonucci |
Absent
|
M. James |
Absent
|
R. Jarquin |
Aye
|
A. Basheer |
Aye
|
J. O'Reilly |
Aye
|
W. Asher |
Aye
|
H. Fruscio Altsman |
Aye
|
J. Griffin |
Aye
|
Mr. Hipwood announced that there were 3 votes conducted during executive session.
VI. President's Report
A.
General Update
Mr. Hipwood provided a brief update on the overall activities of MassVentures. Discussion ensued.
Secretary Hao joined the meeting to discuss her early thoughts on the economic development council, the economic roadshow, and the role that MassVentures can play in economic development, Discussion ensued.