EVENT DETAILS

Forecasting Markets:
The Capital Update for 2006
A live panel discussion sponsored by Goodwin Procter LLP, followed by an MIT Satellite Broadcast

NY Panel Speakers

Graham D. S. Andersonis a General Partner with EuclidSR Partners, a $250 million early-stage venture capital firm based in New York City. Prior to joining EuclidSR, Graham served in several professional capacities in management consulting, law, software and new media, including as a consultant to America Online's Greenhouse Project, Image Technology Corporation (now network MCI Digital Imaging), and The Walt Disney Company. He is a CFA Charterholder and a graduate of Yale College, the University of Glasgow and the Yale Law School. Graham authored the chapter entitled "On Making Investments and Working with Venture Capitalists" in The Ways of the Venture Capitalist (Aspatore Books 2003). Graham concentrates on enterprise software, convergence of information technology and life sciences and specialty pharmaceutical investing. He also serves on the boards of directors of several private companies.

Esther Dyson [moderator]is editor at large at CNET Networks, where she is responsible for its monthly newsletter, Release 1.0, and its PC Forum, the high-tech market's leading annual executive conference. As editor at large, she also contributes insight and content to CNET Networks' other properties. She sold her business, EDventure Holdings, to CNET Networks in early 2004. At Release 1.0 and in her private investment activities, Esther focuses on emerging technologies, emerging companies and emerging markets. She is also an active player in discussions and policy-making concerning the Internet and society. From 1998 to 2000, she was founding chairman of ICANN (the organization responsible for overseeing the Domain Name System). In addition, she donates time and money as a trustee to emerging organizations (Bridges.org, the National Endowment for Democracy and the Eurasia Foundation). For several years in the '90s she was chairman of the Electronic Frontier Foundation. After graduating from Harvard in economics, Esther began her serious career in 1974 as a fact-checker for Forbes and quickly rose to reporter. In 1977 she joined New Court Securities as "the research department," following Federal Express and other start-ups. After a stint at Oppenheimer covering software companies, she moved to Rosen Research and in 1983 bought the company from her employer Ben Rosen, renaming it EDventure Holdings.

Howard L. Morganis the Director at Idealab, a firm that develops and operates technology companies based on its own internally-generated ideas. Howard began working with Idealab in 1996 and serves on their board. Howard is also President and Founder of the Arca Group, Inc., a consulting and venture capital investment firm specializing in the areas of computer and communications technologies and a partner in First Round Capital, an early stage venture fund. He has more than 25 years of experience with more than thirty high-tech entrepreneurial ventures. Howard was Professor of Decision Sciences at the Wharton School at the University of Pennsylvania and Professor of Computer Science at the Moore School at the University of Pennsylvania for almost 15 years. He serves on the boards of a number of companies and is a respected author. He received the Entrepreneur of the Year Award in 1997. Howard received his Ph.D. in operations research from Cornell University and his B.S. from the City University of New York.

Chris Sugdenis a Principal at Edison Venture Fund, which invests in expansion stage information technology companies located in New York City through the Virginia corridor. Chris leads Edison's Financial Services and e-Commerce practices focused on the New York region. He identifies and evaluates new investment opportunities, and provides strategic, financial, sales and marketing expertise to portfolio companies. In 2004, Chris was named by NJBIZ to the "40 under 40" list. Prior to joining Edison, Chris served as Princeton eCom's EVP of the Electronic Billing Division. Earlier in his career, He was Director of Finance and Operations for two magazine start-ups and Internet businesses, and was with PricewaterhouseCoopers in the entrepreneurial services group. He is a certified public accountant and a member of the American Institute of Certified Public Accountants and the Massachusetts Society of CPA's. Chris received his BA of Accounting from Michigan State University.

Neeraj K. Vohrais the Managing Director in the Technology, Media & Telecommunications group at Friedman Billings Ramsey & Co. and heads up the financial technology and enterprise services corporate finance practice. He provides merger advisory services and capital raising assistance to companies in these two sectors in the U.S. and abroad and has leveraged FBR's strengths in the financial services and TMT industry to help establish FBR as a leading investment bank in the financial technology sector. Neeraj joined FBR in 1997 as a Senior Research Analyst focused on the eCommerce industry. Previously, he was a research analyst at Wheat First (now Wachovia Securities) covering the emerging Internet sector. He started his coverage of the technology sector at Standards & Poor's in 1992 by focusing on the computer hardware industry. Neeraj received his M.B.A. in finance from The Stern School of Business at NYU and his B.A. in economics from Baruch College at CUNY.

Dr. Michael D. Zismanis a managing director at Internet Capital Group and is a member of the Company's Board of Directors. Prior to ICG, Michael held several positions at IBM including vice president of corporate strategy for IBM's On Demand strategy, General Manager of Storage Software for the IBM Storage Systems Group, and Vice President of Emerging Business Development, reporting to the IBM Vice Chairman. Prior to that, Michael served as CEO of Lotus Development Corporation. He joined Lotus in 1994 after the Company's acquisition of Soft-Switch, Inc., a software firm that he founded in 1979 and headed until that acquisition. Prior to founding Soft-Switch, he was a member of the faculty at the Sloan School of Management at MIT. Michael received his BS in chemical engineering from Lehigh University, and his MS in systems engineering and Ph.D. in decision sciences from the University of Pennsylvania.

Broadcast Panel Speakers

Bob Crowley [moderator] has been associated with the Massachusetts Technology Development Corporation (MTDC) since its inception in 1978, and was elected president of MTDC in November 2002. Prior to that, he was its executive vice president and chief investment officer. Bob is one of the most experienced venture capital investors in early-stage technology companies in New England.

A former chairman of the MIT Enterprise Forum of Cambridge, Bob is also a director and former chairman of the Smaller Business Association of New England (SBANE), and currently serves as president of SBANE's Education Center. He is also a director of National Small Business United (NSBU), a Washington, D.C. small business advocacy group; and director of two MTDC portfolio companies (Specific Surface Corporation and Cambridge Applied Systems, Inc.). Bob has also served as director of a number of companies including Optical Micro Systems, Inc.; Aspen Technology, Inc.; MultiLink, Inc.; Pacer Infotech, Inc.; and Endogen, Inc.

Bob has spent most of his professional life in finance, initially as a commercial lender with Shawmut Bank and Neponset Valley Bank & Trust Company, and, for more than 23 years, as a venture capital investor with MTDC. He earned a B.A. from Fairfield University and an M.B.A. from Boston College.

C. Edward (Ned) Hazen is a managing director in Lighthouse Capital Partner's Cambridge, Massachusetts office and is responsible for identifying investment opportunities, performing due diligence and negotiating and monitoring East Coast portfolio investments. He has more than 25 years of experience in the technology industry as an investment banker, venture capitalist, and senior finance and operations executive.

Before joining Lighthouse in January 2000, Ned held various senior management positions at Avid Technology from 1993 to 1999, including general manager of the Office and Consumer Group, senior vice president of business development, and treasurer. Prior to Avid, Ned was a managing director of Robertson Stephens and Company from 1987 to 1993, where he was responsible for establishing and building Robertson Stephens' Boston-based technology investment banking practice in the Eastern U.S. and Canada.

While at Lighthouse, Ned's investments have included AppIQ, Aprimo, Azea, Bit9, BuyDomains, CentrePath, DataPower, EnerNOC, Glasshouse Technologies, Incipient, iPhrase, Kalido, Konarka, Lilliputian, LiveVault, LVL7, Mazu, OpenPages, Orthogon Systems, RadioScape, Revivio, Sandbridge, Sandburst, Soundbite, Winphoria, and Ximian.

Ned holds a B.A. in political science from Brown University and an M.B.A. from the Harvard Business School.

Martin Hensel is president of Texterity, Inc., which has been a provider of digital delivery for magazines and catalogs since 2002 following its first round of venture capital funding. He has been with Texterity since 1991 when the company provided systems integration services to publishers, and helped to add E-Book services in 1998. Previously, Martin was general manager of Investext, a division of Thomson Financial Services; co-founder and general manager of electronic publisher Wilson Cambridge; and co-founder and president of LaserData, Inc., where he chaired the NISO standards committee that established the CD-ROM format.

Martin received a B.A. in philosophy from New York University and an M.B.A. from Harvard Business School.

T.L. Stebbins serves as a managing director in Adams Harkness Investment Banking Group. He also serves as chairman of the Investment Banking Division and is a board member at Adams Harkness. T.L. joined the firm in 1970 as a research analyst, and participated in the introduction of the New England Research Service. He also formalized the firm's Investment Banking function and created the company's Corporate Finance department from scratch. In the last 20 years, T.L. has participated in the execution of every type of investment banking service provided by Adams Harkness. These include IPOs, follow-ons, private placements, mergers and acquisitions, and financial advisory assignments. The majority of these transactions were completed for clients in the Technology sector.

Before joining Adams Harkness, T.L. worked in the research department of Estabrook & Co., where, after three years, he became director of equity research.

T.L. received a B.A. from Harvard College, and an M.B.A. from Harvard Business School.

Claire Wadlington is a partner and chief financial officer at FA Technology Ventures. She joined the firm after a series of operating roles at venture-backed companies, most recently as vice president of finance and chief financial officer of Cayman Systems, Inc. Claire was a member of the management team that sold Cayman to Netopia, Inc. Prior to joining Cayman, Claire was chief financial officer of a publishing and Internet company. She had a primary role in the sale of the publishing company to United News & Media PLC. In addition to multiple operating roles, she worked as an investment banker for nearly a dozen years and has extensive experience handling public and private market transactions at First Albany Corporation, Lazard Freres & Co., and The First Boston Corporation.

Claire is a director of privately-held Adapt Media, serves on the executive board of the MIT Enterprise Forum of Cambridge, and on the board of trustees of Christopher House, Inc., Christopher House Assisted Living, and the Women's Union. She is also a member of The Boston Club. She earned her B.A. from Yale University and her M.B.A. from the Stanford Graduate School of Business.

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