Michigan Venture Capital Association's Annual Meeting a Resounding Success
ANN ARBOR, Mich. -- (November 2, 2006) -- The Michigan Venture Capital Association (MVCA) welcomed members, media and guests to the annual meeting and reflected on a year of great achievements and major developments. Among the highlights this evening, new officers, directors and award winners were presented at the Four Points Sheraton in Ann Arbor.
The MVCA has appointed Mary Lincoln Campbell, founder and general partner of EDF Ventures, as the Association's president. EDF Ventures is a leading venture capital firm investing in early-stage healthcare and information technologies. Focused on the Midwest and Southern California, EDF's partners bring deep domain knowledge, extensive networks and a distinguished track record to every endeavor.
About her new position, Campbell said, "I can say with a perspective of twenty years of investing in Michigan, that the venture industry here today is truly hitting its stride. These are exciting times, and I am pleased to have the opportunity to play a leadership role in the MVCA."
Newly elected Vice President Tom Kinnear, Executive Director of the Zell Lurie Institute at The University of Michigan's Ross School of Business, added, "The MVCA will benefit from Campbell's venture capital experience and from her long-standing commitment to building a more robust venture industry in Michigan."
Other new officers are Jan Garfinkle of Arboretum Ventures as vice president and past president; and Mike Bernard of Dykema Gossett as secretary.
Four members of the board of directors were re-elected for a three-year term: Campbell, Garfinkle, Mina Sooch, general partner of Apjohn Ventures and Michael Finney of Ann Arbor SPARK. Committee Chairs for 2007 also were announced: Mina Sooch as talent chair; Ron Reed of Endurance Ventures as legislation chair; Kinnear as membership chair; and John McIlwraith of Blue Chip Venture Company as research chair.
On behalf of the MVCA, Ms. Sooch presented an award for "Deal of the Year" to TGap Ventures for their sale of Minute Clinic and to Beringea Capital for their sale of Merger Markets. Minute Clinic was sold in 2006 to CVS Pharmacy for $170 million. Merger Markets was sold to London-based Pearson plc also in 2006 for about $200 million.
Raj Kothari, general partner of Seneca Ventures, represented the MVCA in presenting "Above and Beyond" awards to Kinnear, Charlie Rothstein of Beringea, Dennis Bernard, President of Bernard Financial Group and David Parsigian of Miller Canfield. These individuals were instrumental in the creation of the Venture Michigan Fund.
About Michigan Venture Capital Association
The Michigan Venture Capital Association is comprised of and organized by venture capital, private equity and professional services firms with the common interest of increasing the availability of capital, entrepreneurial talent, and information about venture capital investment activity in the State of Michigan. To learn more about the Michigan Venture Capital Association and its activities, please contact firstname.lastname@example.org or visit www.michiganvca.org.
Larry T. Eiler
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