MassVentures
Minutes
MassVentures Board Meeting
Date and Time
Monday January 8, 2024 at 8:00 AM
Location
1075 Main Street, Suite 100
Waltham, MA 02151
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Directors Present
A. Basheer (remote), C. Bouthot (remote), D. Schultheis (remote), J. Griffin (remote), J. Hoch (remote), J. O'Reilly (remote), M. James (remote), M. Valanzola (remote), R. Jarquin (remote), W. Asher (remote), Y. Hao (remote)
Directors Absent
None
Guests Present
C. Hipwood (remote), J. Madison (remote), P. Yadav (remote), S. Leis (remote), S. Swider (remote), V. Nijhawan (remote), W. Leslie (remote)
I. Opening Items
A.
Call the Meeting to Order
B.
Examples of Mission
C.
Highlights
II. Approvals
A.
Board Minutes
Roll Call | |
---|---|
D. Schultheis |
Aye
|
J. Griffin |
Aye
|
J. O'Reilly |
Aye
|
R. Jarquin |
Aye
|
W. Asher |
Aye
|
Y. Hao |
Abstain
|
C. Bouthot |
Aye
|
M. James |
Aye
|
J. Hoch |
Aye
|
A. Basheer |
Abstain
|
M. Valanzola |
Aye
|
B.
StataDX Pre-Investment Action Sheet
Roll Call | |
---|---|
A. Basheer |
Aye
|
W. Asher |
Aye
|
R. Jarquin |
Aye
|
C. Bouthot |
Aye
|
M. Valanzola |
Aye
|
J. O'Reilly |
Aye
|
M. James |
Aye
|
Y. Hao |
Aye
|
J. Hoch |
Aye
|
D. Schultheis |
Aye
|
J. Griffin |
Aye
|
C.
InGel Pre-Investment Action Sheet
Roll Call | |
---|---|
J. O'Reilly |
Aye
|
A. Basheer |
Aye
|
Y. Hao |
Aye
|
C. Bouthot |
Aye
|
M. James |
Aye
|
D. Schultheis |
Aye
|
M. Valanzola |
Aye
|
W. Asher |
Aye
|
J. Griffin |
Aye
|
R. Jarquin |
Aye
|
J. Hoch |
Aye
|
III. Financial Matters
A.
Treasurer's Report
Mr. Madison presented the Treasurer's report for month-end November 2023. Discussion ensued.
B.
Approve Treasurer's Report
Roll Call | |
---|---|
J. Hoch |
Aye
|
R. Jarquin |
Aye
|
J. O'Reilly |
Aye
|
Y. Hao |
Aye
|
W. Asher |
Aye
|
M. Valanzola |
Aye
|
D. Schultheis |
Aye
|
M. James |
Aye
|
A. Basheer |
Aye
|
J. Griffin |
Aye
|
C. Bouthot |
Aye
|
IV. Conflicts of Interest
A.
Conflicts
Mr. Hipwood presented a list of opportunities under consideration for investment and asked the board members to declare any conflicts of interest. None were noted.
V. Executive Session
A.
Roll Call Vote to Enter Executive Session
Roll Call | |
---|---|
Y. Hao |
Aye
|
W. Asher |
Aye
|
J. O'Reilly |
Aye
|
D. Schultheis |
Aye
|
J. Hoch |
Aye
|
A. Basheer |
Aye
|
J. Griffin |
Aye
|
C. Bouthot |
Aye
|
M. James |
Aye
|
R. Jarquin |
Aye
|
M. Valanzola |
Aye
|
B.
Discuss - Cyvl
Ms. Yadav presented information related to a potential follow-on investment in Cyvl. Discussion ensued.
C.
Vote - Cyvl
Kevin Barry from MassDevelopment also supported investment from Commonwealth Fund IV.
Roll Call | |
---|---|
J. O'Reilly |
Abstain
|
W. Asher |
Aye
|
J. Hoch |
Aye
|
J. Griffin |
Aye
|
D. Schultheis |
Aye
|
C. Bouthot |
Aye
|
M. James |
Aye
|
A. Basheer |
Aye
|
R. Jarquin |
Aye
|
M. Valanzola |
Aye
|
Y. Hao |
Aye
|
D.
Discussion - Kytopen
Mr. Nijhawan presented information on a potential follow-on investment in Kytopen. Discussion ensued.
E.
Vote - Kytopen
Roll Call | |
---|---|
R. Jarquin |
Aye
|
Y. Hao |
Aye
|
C. Bouthot |
Aye
|
A. Basheer |
Aye
|
J. Hoch |
Aye
|
D. Schultheis |
Aye
|
J. O'Reilly |
Aye
|
M. James |
Aye
|
M. Valanzola |
Aye
|
J. Griffin |
Aye
|
W. Asher |
Aye
|
F.
Pipeline Report
G.
Portfolio Update
H.
Roll Call Vote to Return to Open Session
Upon returning to open session, Mr. Hipwood announced that two votes took place approving investments that will be outlined in the pre-investment action sheets.
Roll Call | |
---|---|
D. Schultheis |
Aye
|
J. Hoch |
Aye
|
J. O'Reilly |
Aye
|
M. Valanzola |
Aye
|
R. Jarquin |
Aye
|
J. Griffin |
Aye
|
Y. Hao |
Aye
|
C. Bouthot |
Aye
|
A. Basheer |
Aye
|
M. James |
Aye
|
W. Asher |
Aye
|
VI. President's Report
A.
General Update
B.
MV Capital Update
C.
MV Accelerate Update
D.
Strategy Discussion
Mr. Hipwood provided an overview of the economic development plan and the high level 3 year strategy for supporting that plan. Discussion ensued.
Mr. Hipwood presented a few highlights since the last board meeting.