By Jessica Straus, NVCA VP of Development
Welcoming New Leadership
The NVCA Corporate Venture Group (CVG) serves as the voice and advisory council of corporate venture investors within the broader NVCA community. Together, these leaders advance the education, professional development and networking mission of corporate venture groups, enabling them to accelerate the progress of innovation and growth through successful venturing.
Each May, nominated by their peers in the Corporate Venture Advisory Group, we welcome new members of the CVG Leadership Team for an annual term and new CVG Advisors join to serve a four-year term. CVG Advisors shape the NVCA and its service to the corporate venture investment community.
We are proud to announce Paul Sestili of Rogers Venture Partners (RVP) as the new Chair of the Corporate Venture Advisory Group. Based in Palo Alto, Sestili brings an extensive understanding of corporate venture, private equity and traditional venture capital. As General Partner of RVP, Sestili manages a range of technology partnerships and investments, including Next Issue Media, Yodle, and Five Stars. Prior to RVP, Sestili was a Managing Director with Mezzanine Capital Partners and began his career with Chevron’s then-new corporate venture group.
“Corporate venture is fundamentally different than it was 10 years ago, and it has changed from when I began with Chevron in 1999,’ said Sestili of his appointment as Chair.
“Beyond passively investing, corporate venture capitalists actively partner with entrepreneurs, building long-term relationships that serve the startup and the corporate business unit. In this new role, I look forward to serving to shape and raise the visibility of the dynamic corporate venture ecosystem in partnership with all NVCA members.”
In addition to Sestili, the CVG Leadership Team includes immediate past Chair Matt McElhattan, Investment Director of Munich RE/HSB; Sue Siegel, CEO of GE Ventures and NVCA Board Member; Reese Schroeder, Managing Director of Motorola Solutions Venture Capital, Communications Committee Chair; Christina Karapataki, Venture Principal with Schlumberger Corporate Venturing, Events & Outreach Committee Chair; and Vic Pascucci, Independent, Education Committee Chair.
We are pleased to welcome three new CVG Advisors this year. Rain Cui, PhD, MBA, Director of Tyco Ventures is a new Advisor. Dr. Cui sources and executes early-stage tech investments that align with Tyco’s business units, with a focus on Augmented Reality and Analytics.
George Ugras, Managing Director of IBM Ventures joins the CVG as an Advisor this year. George was formerly a General Partner at Adams Capital Management, Inc. George joined the Adams Capital Management, Inc. in 1999 and made investments in and works with portfolio companies in the networking infrastructure and semiconductor industries.
Lutz Stoeber, Investment Director with Evonik joins the CVG Advisory Board. Prior to joining the team founding Evonik Venture Capital, Lutz has been involved in investments in chemical, materials and industrial companies for more then a decade. Lutz helped to establish Pardus Capital between 2005 and 2010 and ran their German office.
Returning to the CVG Advisory Board are an incredible and committed group of leaders including Shellie Davis, Managing Director, Venture Capital and Mergers & Acquisitions for The Coca-Cola Company; Dave Famolari Director, Verizon Ventures; Tom Hawkins Managing Partner of Forté Ventures; Geeta Vemuri, PhD, MBA, Managing Partner of Baxalta; Jon Lauckner, Chief Technical Officer at General Motors and Tony Chao, General Manager at Applied Ventures.
Committee Leadership and Priorities
During this critical year for the innovation ecosystem, the new leadership team of the Corporate Venture Advisory Group is poised to serve corporate and venture investors. The Corporate Venture Advisory Group is driven by its Committees, which design initiatives and facilitate practical cooperation across the entrepreneurial ecosystem, including corporate venture groups, venture capitalists, startups, service providers, universities and research institutions.
For the third consecutive year, Reese Schroeder, Managing Director of Motorola Solutions Venture Capital, takes the helm of the Communications Committee. Under his leadership, in 2014, the group launched our quarterly NVCA Corporate Venture Connection publication. With quarterly contributors that include seasoned corporate venture investors, as well as VCs, and a following of thousands, Schroeder has built a formidable communications hub for the corporate venture community. In recognition of his leadership within Motorola and the broader ecosystem, this year, Schroeder received the Global Corporate Venturing Lifetime Achievement Award.
Christina Karapataki, Venture Principal with Schlumberger Corporate Venturing, will serve as Chair of the Events & Outreach Committee. This year, NVCA has launched a new event partnership with Global Corporate Venturing to host SHIFT, Accelerating Corporate and Venture Partnerships our conference in New York in Fall 2016. In this role, she will help lead the new partnership with GCV and build out events for the corporate venture community.
Vic Pascucci will again take the lead of the Education Committee and continue leading the Corporate Venture Strategy Sessions educational series. Vic is currently consulting to multiple corporate venture practices on their fintech and broader strategic initiatives as well as to institutional venture firms on their insurtech and fintech efforts. Previously, Vic built and led a USAA’s $330m strategic venture fund covering fintech, digital capabilities, enterprise technology and consumer internet.
The most recent Strategy Session focused on a few key questions: Why is it important for corporate investors to define strategic impact? Who are the different audiences CVCs need to think about? What are qualitative and quantitative ways to measure strategic value? What are the advantages of corporate VCs?
Recognizing the Outstanding Contributions of Outgoing Leaders
For the past twelve months, the NVCA Corporate Venture Advisory Group has been led by an outstanding Executive Team. Matt McElhattan, Investment Director of Munich RE / HSB Ventures served as CVG Chair, and also received the Global Corporate Venturing Rising Stars Award for his work of more than a decade in corporate venturing.
Mary-Kay James, Managing Director of DuPont Ventures, who has served on the NVCA CVG for four years, and served as Immediate Past CVG Chair has contributed her leadership, vision and clear-sighted guidance.
NVCA Board Directors Claudia Fan Munce, immediate past NVCA Board Member, Venture Partner with NEA, Managing Director Emeritus of IBM Venture Capital Group and NVCA Board Director who has dedicated her immense leadership, skill and guidance to the CVG.
We want to deeply thank and recognize each of Matt, Mary-Kay, and Claudia for the immeasurable contributions to the NVCA, its corporate venture membership and the broader innovation ecosystem.
We recognize outgoing leaders of the CVG. George Hoyem, Investment Partner with In-Q-Tel who also served as the CVG Events & Outreach Committee Chair. Under George’s leadership NVCA hosted its outstanding Corporate Venture Summit, as well events across the nation convening corporate VCs and financial VCs.
We also want to thank and recognize Mike Chuisano, Vice President, Venture Investments and Chief Operating Officer of Johnson & Johnson Innovation, Nagraj Kashyap Corporate Vice President of Microsoft Ventures, Vanessa Colella, Managing Director, Global Head of Venture Investing and Strategic Growth Initiatives Citi Ventures and Declan Denehan Managing Director, with the Strategic Growth Initiatives Team of BNY Mellon.
Serving our membership as a team
Corporate venture groups join NVCA because of the incredible network of traditional and venture investors, the opportunity to shape the corporate venture ecosystem, and play a role in the public policies that impact the innovation ecosystem.
In my new role as VP of Development, I am thrilled to work closely with the Corporate Venture Group and the entire membership. Maryam Haque, NVCA’s VP of Research, brings her expertise as your resource for the latest corporate venture investment data and Ben Veghte, NVCA’s VP of Communications, continues to lead our marketing and communications efforts.
Together as a team, guided by the leadership of Bobby Franklin, NVCA’s President & CEO, we are looking forward to working with the new leadership team of the Corporate Venture Advisory Group and serving our membership.
Corporate Venture Advisory Group Leadership 2016-2017
Chairman Paul Sestili of Rogers Venture Partners
Immediate Past Chair Matt McElhattan, Investment Director of Munich RE / HSB Ventures
NVCA Board Member Sue Siegel, CEO of GE Ventures, NVCA Board Member
Communications Chair Reese Schroeder, Managing Director of Motorola Solutions,
Events & Outreach Chair Christina Karapataki, Venture Principal with Schlumberger Corporate Venturing,
Education Chair Vic Pascucci, Independent
Tony Chao, General Manager, Applied Ventures
Rain Cui, PhD, MBA, Director of Tyco Ventures
Shellie Davis, Managing Director, Venture Capital and Mergers & Acquisitions for The Coca-Cola Company
Dave Famolari Director, Verizon Ventures
Tom Hawkins Managing Partner of Forté Ventures
Jon Lauckner, Chief Technical Officer at General Motors
Lutz Stoeber, Investment Director, Evonik Corporation
George Ugras, Managing Director of IBM Ventures
Geeta Vemuri, PhD, MBA: Managing Partner of Baxalta