February Meeting

Cardinal Partners

        Lisa Skeete Tatum, Partner, Cardinal Partners

        Ms. Skeete Tatum is a Partner at Cardinal Partners (www.cardinalpartners.com), an early stage health care venture capital firm in Princeton, New Jersey. Prior to joining Cardinal, Ms. Skeete Tatum was founder of her own consulting firm specializing in strategic operational development for medium-sized consumer products companies. She was also a Managing Associate at a cosmetics joint venture start-up funded by Sears. In addition, Ms. Skeete Tatum worked for Procter and Gamble in various global and functional roles including Product Development, Purchasing, and Product Supply.   At Cardinal, she has led the firm’s investments in AthenaHealth.com, Cancerfacts.com, iPhysicianNet, Parkstone Medical Systems, and TechRx. Ms. Skeete Tatum is on the board of the Harvard Business School African-American Alumni Association and a member of the President’s Council of Cornell Women. Ms. Skeete Tatum received her B.S. in Chemical Engineering from Cornell University and her M.B.A. from Harvard Business School.

      Cardinal Partners (www.cardinalpartners.com) has $200 million under management and seeks early-stage investment opportunities in healthcare, medical technology, healthcare services and life sciences. We are committed to the belief that innovation and excellence in the business of healthcare will simultaneously improve the lives of millions, while rewarding our investors with extraordinary returns.

     Our team has decades of experience in both IT and healthcare, guiding
companies to their full potential through an inventory of network contacts,
management team building expertise and strategic troubleshooting. We help
nurture and grow today's enterprises into tomorrow's industry leaders.
Together the Cardinal team has invested in over a hundred growth companies.

     Cardinal's limited partners include university endowments, foundations,
pension funds, banks and insurance companies. The firm is located in
Princeton, New Jersey, with a satellite office in Laguna Niguel, California.

For more information, visit www.cardinalpartners.com.

Constellation Ventures

        Angela Danielson, Principal, Constellation Ventures

        Angela Danielson is a Principal at Constellation Ventures. Ms. Danielson is responsible for monitoring existing portfolio companies and leading due diligence on potential investments. She also manages Constellation Ventures’ Partner Network and other investor communications. Ms. Danielson has five years of venture capital, strategic planning and investment banking experience. Prior to joining Constellation Ventures, Ms. Danielson worked in Finance at DreamWorks L.L.C. and in Media & Entertainment Investment Banking at Bear, Stearns & Co. Inc. Ms. Danielson earned a Bachelor of Arts in History at Yale University.

        Constellation Ventures (www.ConstellationVentures.com) manages $450 million in venture capital through offices in New York, Los Angeles and Tokyo. The fund invests between $5 and $15 million in early to mid-stage companies that enable the distribution, management and control of information over emerging digital networks. Constellation Ventures provides its portfolio companies strategic value-added services by leveraging its Limited Partners that include Bear Stearns, Sony, Viacom, Young & Rubicam, Times Mirror, Dai Nippon Printing, NTT Data, Acxiom, Toyota and Singapore Technologies. Constellation Ventures has a near-term investment focus on emerging digital broadband infrastructure services and technologies for wireless and wireline distribution of content. The fund continues to monitor programming services businesses that have established successful business models.

For more information, visit www.constellationventures.com.

Flatiron Partners (Panel Moderator)

        Dr. Dana Ardi, Principal, Flatiron Partners

One of the key factors in the rapid boom of the Internet economy are the behind-the-scenes experts who have become increasingly more important in this arena of generating revenue via "human capital." In addition to being a highly skilled specialist in emerging technology, Dr. Dana Beth Ardi is also an expert on the leaders in the profession. Utilizing her more than 20 years of experience in entertainment and new media, Dr. Ardi has been perfecting the art of executive recruitment, specializing in Web-based start-ups. Additionally, Dr. Ardi shares her expertise with executives at large in her weekly column, "Ask Dr. Dana," for The Industry Standard online. An integral part of the Flatiron team, Dr. Ardi has helped define the role of Human Capital Partner. Not only does she help place the most sought after talent for our portfolio companies, she also acts as a "venture catalyst" in creating the structure of new organizations, building high-caliber leadership teams and providing Flatiron companies with ongoing counsel and a firm strategic partnership to address needs that arise as their business ventures grow.

Before joining Flatiron Partners (www.flatironpartners.com), Dr Ardi was the Global Practice Leader for Internet and Media at TMP Worldwide. She served as senior vice president of new media for R.R. Donnelley & Sons Company where she was responsible for joint ventures and strategic alliances in new media, and for guiding venture capital investments in new media and information technologies. Prior to that, she was president of The Infotainment Corporation and consulted for various leading studios, publishers and telecommunications companies. Dr. Ardi received a Bachelor of Science degree from State University of New York at Buffalo, and a Master of Education and Doctorate from Boston College. She also taught as a professor at the graduate center at Fordham University in New York.

Flatiron Partners (www.flatironpartners.com) is one of the preeminent Internet-focused venture capital firms. Located in New York's historic Flatiron district, the heart of Silicon Alley, Flatiron thrives off the synergy between the rapid evolution of digital technology and New York's traditional focus of content, commerce, and communications. Founded in 1996, the firm is a pioneer in Internet investing, and has establishing more than three dozen companies including some of the best known companies of the Internet Age.

Flatiron Partners has a strategic affiliation with Chase Capital Partners (CCP), one of the world's leading private equity firms, whereby CCP is the exclusive source of capital for our $300 million fund. CCP boasts nearly 150 investment professionals in offices around the world. Since its founding, CCP has invested more than $8 billion and, in 1999 alone, invested nearly $2 billion. Combining the experience of our founding partners with the strengths of its investment partner, Chase Capital Partners, Flatiron Partners provides entrepreneurs with a disciplined growth strategy and access to unparalleled resources.

Investment Philosophy

By Industry: Flatiron's focus is exclusively on Internet investments. We believe the Internet will change most industries, but we believe the most profound impact will be in the areas of content, commerce, and communications. Our focus is primarily on these areas. In addition, we have dedicated $50 million toward investments in the area of Pervasive Computing.

By Stage: Our investment philosophy calls for us to be highly involved in the development of our portfolio companies. This leads us most naturally to investments where there remains a large amount of development work to be done. This does not mean, however, that we are seed and early stage investors. In fact, the majority of our investments have been first round investments in companies where the management team is fairly complete and the business model has been tested and revenues are flowing. We have made both early stage investments and late stage investments, but always in companies that see the value of our involvement.

By Location: We are not a regionally focused firm. The majority of our current investments, however, are in the New York metropolitan area. This is due to our desire to work closely with our companies. For early stage companies, we prefer to invest close to home. For later stage companies, we will invest without concern for location.

We are also actively investing in the development of the Internet internationally with a number of investments in Asia and Latin America. We believe that the Internet opportunity is beginning to develop rapidly in regions such as Europe, Asia, and Latin America. In these situations we involve the local offices of Chase Capital Partners to work on our international investments.

JP Morgan Partners (Formerly known as Chase Capital Partners)

         Dr. Risa Stack, Ph.D., Principal, JP Morgan Partners

       Prior to joining JP Morgan Partners (www.JPMorganPartners.com) (formerly known as Chase Capital Partners), Ms. Stack worked as a Derivative Specialist on the Chicago Board of Trade and held Intern positions at ARCH Development Corporation and at Abbott Laboratories. Ms. Stack received her B.S. in Genetics and Development from the University of Illinois and her Ph.D. in Immunology from the University of Chicago. Ms. Stack was a Kauffman Fellow.

        JP Morgan Partners (www.JPMorganPartners.com) (formerly known as Chase Capital Partners) ("JPMP") is a global private equity organization which provides equity and mezzanine capital financing to private and public companies. We invest throughout the entire life cycle of the business development process. Our investment mandate permits maximum flexibility in supporting the equity needs of businesses worldwide. With over 125 investment professionals, JPMP has invested directly in over 30 countries through our seven offices and over 30 strategic relationships. JPMP currently manages an $24 billion portfolio which includes 1,013 direct equity and mezzanine investments, investments in other funds, and our buyside asset management groups, Chase Alternative Asset Management, Inc. and Octagon Credit Investors. Chase Alternative Asset Management, Inc. manages over $3 billion in alternative investment products including hedge funds, managed futures and private equity fund of funds. Octagon Credit Investors focuses on investing in the leveraged loan and high yield bond markets.

JPMP strives to be management's partner of choice. Our extensive global network of strategic relationships complements our existing base of investment professionals. These relationships, combined with the broad array of management partners' expertise, provide JPMP with unparalleled knowledge, experience and resources for considering investments in a wide variety of industries and geographic regions. JPMP complements management in their pursuit to expand globally, consolidate industries, enhance technology, access financing markets in the most efficient manner and build and maintain top personnel. Since our inception in 1984, JPMP has closed more than 1,450 direct equity and mezzanine transactions. Realized investments of this type have generated capital gains with internal rates of return in excess of 40%. JPMP's diversified portfolio includes board seats in over 550 companies. JPMP is not only one of the largest providers of private equity and mezzanine, but is viewed as a key strategic partner.

        JPMP's primary limited partner is J.P. Morgan Chase & Co., one of the nation's largest banking holding companies with approximately $660 billion in assets. This evergreen source of capital provides JPMP with an unparalleled flexibility in structuring and closing a wide variety of transactions. JPMP's affiliation with J.P. Morgan Chase & Co. provides a number of competitive advantages ranging from additional deal flow to industry expertise. Through this partnership, JPMP is well positioned to adapt to changes and opportunities in the marketplace.

For more information, visit www.JPMorganPartners.com.

Walden Capital Partners

        Loren Busby, Walden Capital Partners

        Loren worked at Venture Economics from 1989 to 1992 where she provided Fortune 500 executives with financial and technology information on venture-backed companies. In 1994, Loren joined Princeton University Investment Company and moved to Nassau Capital LLC at its inception to work as an Associate on direct and fund-of-funds investments on behalf of Princeton. In 1997, Loren joined Walden Capital to originate, structure and monitor investments for the firm's SBIC fund. Loren has worked with companies in diverse industries, including manufacturing, consumer products, computer software, and health care. Loren earned a B.S. from Central Connecticut State University and a M.B.A. from Columbia Business School (McCain Scholar).

        Walden Capital Partners (www.waldencapital.com) is a licensed small business investment company ("SBIC") which targets companies in need of growth capital. Walden Capital invests in companies that have strong, proven management teams which have passed the early stages of business development and are positioned for expansion. These companies should also have a demonstrated competitive advantage which supports their growth plans. Walden Capital invests up to $4 million per company and partners with other venture capital investors in larger transactions.

Walden is willing to invest in minority equity positions and does not seek to gain operating control of the business. Walden strives to be partners with management through participation on the board of directors. Through its relationship with Walden, management is able to draw upon advisors who have:

Contact Loren Busby: Email loren@waldencapital.com.

For more information, visit www.waldencapital.com.

Women's Growth Capital Fund

Patty Abramson, Co-Founder & Managing Partner, Women’s Growth Capital Fund

Patty Abramson is Co-Founder and a Managing Partner of the Women's Growth Capital Fund (www.wgcf.com) and Co-Founder of WomenAngels.net. The Women's Growth Capital Fund is a venture capital fund, based in Washington, DC, established to invest in women-owned or managed growth companies. The Fund is the first women-owned, women-focused fund in the country to be licensed by the Small Business Administration as a Small Business Investment Company. Investors include more than 70 individuals, 70% of whom are women, as well as financial institutions including Bank of America, First Union Bank, United Bank, BankBoston, State Street Bank and several foundations. The Fund has $30 million under management.

WomenAngels.net is the first women’s angel club, formed to invest in early stage companies based in the Washington area. Members of the club include venture capitalists, entrepreneurs, members of the financial community, lawyers and wealthy individuals.

Prior to founding the Women’s Growth Capital Fund, Ms. Abramson spent more than 20 years as President of her own marketing and communications firm and as Vice President of the women-owned firm of Hager, Sharp & Abramson. HSA was a full service communications firm that specialized in work for national women’s organizations and on behalf of women’s financial, work, pay equity, health and education issues. The firm also provided services to a broad range of public sector, corporate and not-for-profit clients.

Ms. Abramson is a member of the Board of Directors of VIPDesk.com. She has been an officer or served on the boards of numerous education and local service organizations including the YMCA, Samaritan Inns, the St. Francis Center, Georgetown Day School, Leadership Washington, and DC Jewish Community Center. She has served on the DC Commission for Women, DC Human Rights Commission and the Mayor’s Overall Economic Development Commission. She was a delegate to the White House Conference on Small Business, named the Small Business Advocate of the Year by the Small Business Administration, and the Women in Communications’ Businesswoman of the Year.