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Novak Biddle Ventures Portfolio Co. WealthEngine Raises $2M of $5M Offering - CBL
By Citybizlist Staff
BETHESDA , Md. -- According to a Reg D filing with the U.S. Securities and Exchange Commission, WealthEngine Inc. has raised $2 million from one investor in its $5 million equity offering.
Founded in 1991, the Bethesda-based wealth research firm serves mainly nonprofit organizations and financial services companies.
Principals named in the filing are CEO Francis Glowacki and directors A.G.W. Biddle III and Janet Yang, both of Bethesda-based Novak Biddle Venture Partners, and Richard Le Pere.
Reg D filing: http://tinyurl.com/yzpllj4
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Bios from Novak Biddle's Web site:
A.G.W. Biddle III
Prior to co-founding NBVP in 1996, Jack was President and CEO of InterCAP, a venture-backed computer software company. InterCAP was number 18 on the "Fast 50" list of the mid-Atlantic's fastest growing companies and was acquired by Intergraph in 1995. From 1987 to 1990, Jack rose from Senior Associate to Partner at Vanguard Atlantic, Ltd., a merchant banking group focused on M&A advisory work and control investments in software companies. At VAL, he served as turnaround CEO of a system software company and then as COO of an application software company. Earlier in his career he was an IT Industry Generalist, focused on Telecommunications Technology, at the Gartner Group, where he was also Executive Assistant to the CEO, Gideon Gartner. He began his career in 1983 in Austin , Texas at Business Development Partners, an early stage venture capital partnership. Jack holds a BA in Economics from the University of Virginia .
Jack currently serves on the Boards of WealthEngine, Vision Chain (Chairman), CorasWorks (Chairman), Triumfant, eMinor, ObjectVideo, Starfish Retention Solutions and Appian Corporation. Past Board or Observer seats include SafeView, Inc. (acquired by L3 Communications), Matrics (acquired by Symbol Technologies), Giga Information Group (Nasdaq: GIGX) (Lead Director), acquired by Forrester), Telogy Networks, (acquired by Texas Instruments), Tantivy (acquired by Interdigital), AnswerLogic (acquired by Primus Knowledge Systems), and Blackboard, Inc. (Nasdaq: BBBB). He is a Director of the Computer & Communications Industry Association, a member of Business Executives for National Security (BENS), and advises the U.S. Department of Defense on technology and innovation.
He is on the Investment Committee of the University of Maryland 's New Markets Growth Fund, an SBA leveraged fund targeting private equity investments in disadvantaged areas. He is a board member of TiE-DC. He is a frequent speaker on entrepreneurship for the U.S. Department of Commerce, and has made presentations for them in Russia , China and Japan . Jack is a Director and former Vice Chairman of the Board of the Baltimore Symphony Orchestra. He is a Trustee serving as Treasurer and Finance Committee Chair of the Sibley Memorial Hospital Foundation and also serves on the Hospital's Investment Committee.
Janet Yang
Janet Yang joined Novak Biddle Venture Partners in 2006. Trained in electrical engineering from Stanford University , Janet started her investment career on Wall Street as a sell-side equity research analyst for Merrill Lynch and later Salomon Smith Barney, where she was a top-ranked analyst in her sector according to fund managers' surveys, and helped raise over $800 million for various corporations.
Janet is on the board of WealthEngine and serves as a Board Observer for portfolio companies: Avail Media/TVN, eMinor and Starfish Retention Solutions.
Prior to Novak Biddle, Janet worked closely with William H. Draper, III in San Francisco-based venture capital firm, Draper Richards, focusing on early-stage technology investments in the United States and India.
Janet brings substantial international experience, as well as operating experience, to Novak Biddle. She has over 10 years of work experience in Asia , in particular, the Greater China region. While in Asia, Janet held various senior executive positions at PCCW, the largest telecommunications company in Hong Kong , reporting to Chairman and CEO Richard Li. Her experience included being the CFO of an IT outsourcing company in partnership with China Telecom and PCCW.
Janet is multi-lingual, fluent in Chinese and had studied Japanese and French. She has lived and worked in New York, San Francisco, Washington DC, London, Tokyo, Hong Kong, Shanghai, and Beijing.
