The investment decisions and portfolio valuation recommendations of the Fund are made by Penn Venture Partners' Investment Committee. The Investment Committee also advises the Fund and its General Partner on ongoing investment strategy and other matters related to its limited partners. The following individuals comprise the voting members of Penn Venture Partners' Investment Committee.
Dean M. Kline
Mr. Kline is managing member of the General Partner and Managing Director in Penn Venture Partners. He currently serves on the Board of Directors of Journal Publications, Corporate University Xchange, Probity Medical Transcription, Senators Partners (the Harrisburg Senators Baseball Club), and Thermacore. Prior to joining Penn Venture Partners, Mr. Kline was Vice President of a venture capital firm specializing in early-stage technology companies nationwide. His focus in support of portfolio companies included finance, internal controls, businesses development, and follow-on investments, as well as Board directorship. He is the former Executive Vice President, responsible for finance and business development, of an international, non-profit health sector organization. Previously Mr. Kline was Vice President of Planning at a late stage manufacturing company. He also served as the Assistant to the Executive Director at the World Bank, and was responsible for improvement of loan quality, education and health sector projects, audit and controls, and the portfolio for Africa and subsequently Asia. Mr. Kline began his professional career as an International Economist at the Treasury Department, where he worked on financial and economic relations with Asia and the Middle East, including exchange rate negotiations, financial market liberalization, and funding related to the Gulf Crisis. He received his Diploma and M.Phil. from Cambridge University and his B.A. from Wheaton College.
Thomas A. Penn
Mr. Penn is a Managing Member of the general partner, a Member of the investment committee, and a Managing Director of the management company of Penn Venture Partners L.P. Mr. Penn is also a Senior Partner of Meridian Capital Partners, a Radnor, PA based private equity firm. He has over 25 years’ experience in starting, managing, and financing high growth companies in the Mid-Atlantic region and nationally. Before joining Meridian, he was a Partner at Boston Millennia Partners, a $700 million venture firm focusing on technology investing with an emphasis in life science and healthcare. From 1994 to 1998, Mr. Penn was President and CEO of Tektagen, Inc., a leading contract services firm serving the biotechnology and pharmaceutical industries, which was successfully sold to Charles River Laboratories, Inc. Prior to Tektagen, he was President of Independence Ventures, Inc., a firm that specialized in starting and building high-potential, technology-based companies. Earlier in his career he held several positions in industry and venture capital. Mr. Penn is the founder of the Entrepreneurs’ Forum of Greater Philadelphia. He also served as President of the Pennsylvania Biotechnology Association and was Co-Chair of Pennsylvania’s Technology 21 Biotechnology Network among other community activities. Mr. Penn holds BS degrees from MIT in metallurgy and materials science and in industrial management, an MBA from Stanford, and a JD from the University of Pennsylvania.
Frank P. Pinto
Frank Pinto is Managing General Partner of Eastern Growth Capital LLC, a private equity fund focused on lower middle market companies. Frank has been an early advisor, investor and board member, chairman and interim CEO at Omnilink Systems, Inc. Frank has been a partner in two venture capital funds: Boston Millennia Partners and Zero Stage Capital. Frank has been an investor and/or board member at LiveWave (sold to Smiths Aerospace for $25mm), Imaging Automation (sold to Viisage for $35mm), MicroE Corporation (sold to GSI Lumonics for $60mm), Glycofi (sold to Merck for $400mm) and others. Frank was also the CEO of Mass. Technology Development Corp., the venture capital fund for the Commonwealth of Massachusetts which has had a long-term IRR of 18%. Prior to his private equity/venture capital experience, Frank was founder and CEO of The Learning Adventure, Inc., an education and training company and the general manager of Bakst Service, Inc., a regional vending company. Frank holds an MBA from the Tuck School of Business at Dartmouth College where he received the Boston Alumni Association Scholarship and a BA from Middlebury College with highest departmental honors.
Stephen P. Brawley
Mr. Brawley is President and CEO of Ben Franklin Technology Partners of Central and Northern Pennsylvania (BFTP/CNP). BFTP/CNP is part of a statewide network that invests in innovation to promote job opportunities and economic growth in the Commonwealth. As the CEO of Ben Franklin, Mr. Brawley is responsible for the implementation of the Ben Franklin investment program in the 32-county footprint served by the Program, and oversees a portfolio of approximately 150 early-stage investments. Mr. Brawley has been with the Center for more than 18 years and has extensive experience in economic development and seed investing. Prior to his current role, he held various positions at the Center including Vice-President and Associate Director, Director of the South Central Regional Office in Harrisburg and Program Director of Training and New Business. A graduate of the Penn State University with a Master’s Degree in Public Administration, Mr. Brawley has been employed with various state and university programs since 1989. He currently sits on several Boards including regional Technology Councils, and the Advisory Panel for the Harrisburg/Lancaster/Erie Keystone Innovation Zones.
Edward Harrell, PhD
Dr. Harrell is currently the Managing Partner, Harrell Partners, LLC, a family owned early-stage equity investor in seed and early stage IT and biotech. He has held senior managerial positions with Rohm & Haas Co., E.I. DuPont de Nemours & Co., the U.S. State Department, the U.S. Agency for International Development and Price Waterhouse, LLP, and has lived and worked in India, Japan, Thailand and Jordan. Dr. Harrell serves on many Boards including the Ben Franklin Technology Partners of Central and Northern, PA, The Penn State Research Foundation, the Ben Franklin Technology Development Fund, KollabNet, Inc, Nomadio, Inc, Pest Patrol (purchased by Computer Associates in October 2004) and the Maryland Health Care Products Development Corp. He is an active investor in nine other pre-registered, start-up companies. Dr Harrell was the Executive Director of a new and expanding incubator for start-up and and growing companies in Carlisle, PA for three years while he was an Adjunct Professor of International Business and Management, Dickinson College. He is currently teaching courses on Venture Capital and Entrepreneurial Financing and Case Studies in International Business in the MBA/MS Finance program at Johns Hopkins University’s Carey Business School. Dr Harrell has previously taught at Thammasat University, George Washington University, as well as Dickinson College. Dr Harrell participates in NFTE (National Foundation for Teaching Entrepreneurship) high school programs in Greater Washington. He holds a BS in Chemistry from Dickinson College, a Certificate from the East Asian Institute (Japanese studies), Columbia University, a PhD in Economics, Columbia University and attended the AMP (Advanced Management Program), Harvard Business School.