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MAVA Press Contact: Stacey Sweeney
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Stacey@StaceySweeney.com
Mid-Atlantic Venture Association Elects Four New Directors
Corey, Levine, Schwarz and Weller to Serve 3-Year Term on MAVA Board of Directors
(May 25, 2006, Timonium, MD) - Today the Mid-Atlantic Venture Association (MAVA) announced the election of four new members to its Board of Directors. William Corey, Managing Partner at PricewaterhouseCoopers LLP, Mark Levine, Managing Director of Core Capital Partners, Ryan Schwarz, Managing Director of The Carlyle Group, and Harry Weller, Partner of New Enterprise Associates, have each been elected to serve a three-year term.
Outgoing MAVA Board of Directors members include Dave Sylvester of WilmerHale, Cory Starr of PricewaterhouseCoopers LLP, and Code Cubitt of Gabriel Venture Partners. Additionally, current Board member Mike Lincoln, Partner at Cooley Godward LLP, has been elected to serve as Secretary of the association’s Board of Directors, assuming those responsibilities handled by outgoing Board member Dave Sylvester.
William Corey is the Managing Partner of PricewaterhouseCoopers LLP Baltimore office and leads the firm’s Baltimore TICE practice. Mr. Corey is also the Assurance Practice Venture Capital and Private Equity Practice leader for PricewaterhouseCoopers in the mid-Atlantic region. Having served as chairman of the finance committee for several Capital Connection events, Mr. Corey joins a number of his firm’s colleagues who have been active participants with MAVA and in the venture community.
Mark Levine is a Managing Director of Washington, D.C.-based Core Capital Partners, a $370 million private equity fund that provides capital to both early-stage ventures and small to mid-sized growth companies. Mr. Levine led Core's investments in and serves on the Boards of Directors of Sentito Networks, InPhonic, VocalData, and Roundbox. Mr. Levine and his partners have been active in chairing committees within MAVA, including those affiliated with the Capital Connection venture fairs and the association’s annual report advisory committee.
Ryan Schwarz is a Managing Director of The Carlyle Group, one of the world’s largest private equity firms, with more than $39 billion under management. Mr. Schwarz leads the healthcare investing practice in Carlyle’s U.S. Venture & Growth Capital Group and is on the Board of Directors of AcuFocus, Inc., Endius, Inc., Fairchild Imaging, Inc., Liposonix, Inc., NeoVista, Inc., Primary Health, Inc., Proteus Biomedical, Inc. and Transport Pharmaceuticals, Inc. As co-chair of the selection committee of MAVA’s BioConnection venture fair and one of the driving forces behind MAVA’s efforts in delivering the Mid-Atlantic Bio conference, Mr. Schwarz has been instrumental in the development of MAVA’s life sciences programs.
Harry Weller is a Partner of Baltimore-based New Enterprise Associates (NEA), one of the largest U.S. venture capital firms with more than $6 billion under management. Mr. Weller specializes in investing in information technology companies and his present board memberships include Availink, Informance, SourceFire and Vonage. He co-led NEA’s investments in Hillcrest, Innerworkings and Pentaho. Mr. Weller has served as co-chairman of MAVA’s Capital Connection venture fairs in 2004 and 2005 and he co-founded the program initiative for the up-and-coming investment professionals in MAVA, called Young mid-Atlantic Venture Association (YAVA).
"MAVA will truly be enriched with the addition of these long-standing members to our Board of Directors. Having benefited from the many hours they have dedicated to our organization, we look forward to their continued contributions as active Board members in building a strong and vibrant investment community," said Julia Spicer, Executive Director of MAVA. "We are grateful for the years of diligent service provided by outgoing Board members Dave Sylvester, Cory Starr and Code Cubitt."
About MAVA
MAVA represents private equity and venture capitalists with investment interests in the mid-Atlantic. Founded in 1986, MAVA provides a wide range of programs, information and forums designed to facilitate quality deal flow, encourage collaboration, and foster relationships with entrepreneurs and investors to promote private equity investment. Membership includes more than 500 venture capital professionals representing nearly 125 firms with collectively more than $10 billion in capital under management. In addition, more than 250 key professional service providers from the financial, legal, executive search and consulting fields are also MAVA members. For more information, please visit www.mava.org
