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Village Ventures Launches Fund in Indiana; Fund Will Have Offices in Bloomington and Indianapolis.



Business Editors

WILLIAMSTOWN, Mass.--(BUSINESS WIRE)--Feb. 1, 2002

The 14th fund to affiliate with Village Ventures, Inc. (www.villageventures.com), a network of regionally focused venture capital funds Venture Capital Funds

An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential.

Notes:
, will be based in Indiana, with offices in Bloomington and Indianapolis.

The Indiana fund will invest primarily in early-stage, high-growth businesses in the life sciences and information technology industries located in Indiana and the surrounding region. It will be managed by partners Ken Green, M.D. who has a 20-year background in the life sciences area and considerable venture capital investing experience, and David Mann David Mann is the name of:
  • David Mann (Videogame Executive), Chief Operating Officer of Foundation 9 Entertainment
  • David Mann (actor), American stage actor
  • David Mann (painter) (1940-2004), American artist
, whose background includes experience with early-stage companies, operations, and venture capital. Village Ventures Regional Managing Director Jane Martin, a former General Partner of U.S. Venture Partners, a leading Silicon Valley venture fund, will represent Village Ventures as the third member of the General Partner of the fund and will sit on the fund's Investment Committee.

"Indiana offers tremendous opportunities for venture capital investing, especially in the life sciences area, which has been underrepresented un·der·rep·re·sent·ed  
adj.
Insufficiently or inadequately represented: the underrepresented minority groups, ignored by the government. 
 by outside venture capital funds, but has great potential given the strong university research and corporate presence here," explained Jane Martin. "We did extensive research in this region to find the best team to tap into the rich life sciences and information technology area, and believe that Ken and David have the proven experience to make an impact in this market."

The size of the fund is not disclosed. The average closed fund in the Village Ventures network is $16 million, with funds ranging in size from $7 million to $56 million. Village Ventures, based in Williamstown, Massachusetts Williamstown is a town in Berkshire County, in the northwest corner of Massachusetts. It shares a border with Vermont to the north and New York to the west. It is part of the Pittsfield, Massachusetts Metropolitan Statistical Area. The population was 8,424 at the 2000 census. , is a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
 company focused on venture capital investing in emerging technology markets. The company provides financial services to a network of 14 early-stage venture capital funds operating in 12 states. Village Ventures co-invests alongside those funds and is a potential source of follow-on financing to companies in those portfolios.

Village Ventures Chief Executive Officer Matt Harris said, "The Indiana region is a hotbed hotbed, low, glass-covered frame structure for starting tender plants. It differs from a cold frame only in that the soil is heated—either artificially as by underground electric wiring or steampipes, or naturally with partially fermented stable manure, which  of education and business innovation. But it lacks adequate local sources for venture capital investing in early-stage ventures, making it an ideal region for us. With Ken and David's expertise and Jane's involvement, this new fund adds huge value to the Village Ventures model."

"Clearly, the secret is out. Indiana is rising in the ranks of the technology world," said Indiana Lieutenant Governor lieutenant governor
n. Abbr. Lt. Gov.
1. An elected official ranking just below the governor of a state in the United States.

2. The nonelective chief of government of a Canadian province.
 Joe Kernan For the Armagh Gaelic football player and manager, see .
Joseph Eugene Kernan (born April 8, 1946), widely known as Joe Kernan, is an American politician who became the Governor of Indiana on September 13, 2003 upon the death of Frank O'Bannon.
, who serves as chair of the state's 21st Century Research and Technology Fund. "We have the universities, we have the companies and we have the talent. And with the addition of this Village Ventures fund, we now have even more resources to encourage the continued development of our high-tech industry and the high-skill, high-wage jobs that come along with it."

Myles Brand Myles David Brand (born May 17, 1942) is executive director of the United States' National Collegiate Athletic Association (NCAA) and prior to that served as the sixteenth president of Indiana University. , President of Indiana University, echoed these comments: "Building a 21st century economy is essential to Indiana's future welfare, and Village Ventures is an able partner in that effort. Creating a Hoosier culture of entrepreneurship requires the committed collaboration of higher education, government, and the business community. This model has worked well in other states--consider Stanford and Silicon Valley, MIT MIT - Massachusetts Institute of Technology , Harvard and Boston's Route 128 or Chapel Hill, Duke, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures


Area, 52,586 sq mi (136,198 sq km). Pop.
 State and the Research Triangle--and it will work in Indiana. We are fortunate that individuals of the caliber of Ken Green, David Mann, and Jane Martin will bring to bear their considerable resources on fostering technology-driven business in Indiana."

Ken Green, M.D., has spent the last 20 years in the life sciences area, where he spent the majority of his time in venture capital and also served as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of a start-up company start-up company

A new business.
. His venture capital experience includes eight years at Senmed Medical Ventures, a corporate venture capital firm that focused on early-stage life science business opportunities. At Senmed, he invested in a broad array of medical companies. From 1999 to 2000, he was CEO of Cutanogen Corporation, a start-up medical device company. Before entering the venture capital arena, Green worked at Bristol Myers Squibb and in private medical practice.

An Indiana native, David Mann was most recently the co-founder of WeServeHomes, a Kleiner, Perkins, Caufield & Byers backed company that has created a technology-based solution within the home services sector. Prior to WeServeHomes, Mann was a partner with ServiceMaster Ventures, a corporate venture capital fund. Earlier, as an officer in the U.S. Navy, Mann gained operating experience in a number of management positions that encompassed business, technology, and government including over two years in the Navy's White House Liaison Office.

Jane Martin has over 30 years of experience in public and private equity investing and technology commercialization. Before joining Village Ventures, Martin was Acting CEO at Wisdom Tools, Inc., Indiana University's first technology spinout spin·out  
n.
An instance of spinning out: a motorist who was injured in a spinout. 
. From 1990 to 1998, Martin was semi-retired, making private investments in venture funds and doing pro bono Short for pro bono publico [Latin, For the public good]. The designation given to the free legal work done by an attorney for indigent clients and religious, charitable, and other nonprofit entities.  fund-raising and consulting for various organizations including Indiana University's endowment. Before returning to Bloomington in 1990, Martin was a General Partner at U.S. Venture Partners, a leading venture capital firm in Silicon Valley. Prior to U.S. Venture Partners, Martin was a Principal at Allstate Insurance Company's venture capital division in Chicago.

Editor's Note

Village Ventures is a Williamstown, MA-based company that focuses on venture capital in emerging technology markets. The company helps manage and provides financial services to a network of 14 early-stage venture capital funds in 12 states. It also co-invests alongside those funds. The funds have raised $150 million from local investors. Additionally, Village Ventures has raised $100 million to fund its operations and for co-investing with the fund network. Capital commitments for individual funds in the Village Ventures network range from $7 million to $56 million with the average fund being $16 million. The Village Ventures fund network consists of The Berkshires Capital Investors, Williamstown, MA, The Worcester Capital Partners, Worcester, MA, Long River Ventures, Springfield, MA, Highway 12 Ventures, Boise, ID, Tall Oaks Capital, Charlottesville, VA, FreshTracks Capital, Burlington-Middlebury, VT, Point Judith Venture Fund, Providence, RI, Solstice solstice (sŏl`stĭs) [Lat.,=sun stands still], in astronomy, either of the two points on the ecliptic that lie midway between the equinoxes (separated from them by an angular distance of 90°).  Capital, Tucson, AZ and additional funds in Indiana, Florida, Lexington, KY, Hanover, NH/Portland, ME, and Albany, NY. Investors include Bain Capital, Highland Capital Partners Highland Capital Partners is a global venture capital firm with offices located in Boston, Silicon Valley, Geneva, and Shanghai. Since its inception in 1988, the firm has invested in more than 180 early and growth stage companies and taken a sector-focused approach to investing in , Sandler Capital Management, Janus Capital Corporation, Banknorth Group, Fleet Development Ventures, and Key Bank.
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Date:Feb 1, 2002
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