EPIC Ventures 2009 Year in Review
EPIC Ventures Awarded Venture Capital Fund of the Year at Emerging Managers Summit
EPIC Ventures was awarded as the winner of Opal Financial’s 2009 Emerging Managers Summit Venture Capital Fund of the Year. EPIC Senior Associate, Katie Szczepaniak Rice received the award at the Summit held in Chicago, IL from June 7-9. “This is a great honor for Epic Ventures, and I was thrilled to accept the award on behalf of the Epic team, our entrepreneurs and our investors.” said Katie. The conference showcased a variety of emerging mangers as well as minority-owned manager funds and other high potential smaller investment firms.
More…
Chris Stone Joins EPIC Ventures as Managing Director

Chris Stone brings over 29 years of public and private technology company operational and entrepreneurial experience from engineering to executive management. Prior to joining EPIC Ventures as a Managing Director, Chris was CEO of SiCortex, makers of the world’s most energy-efficient high performance Linux computers. Prior to SiCortex, he was CEO of StreamServe, a European-based document management company ($70m revenue).
Chris began his career as a systems engineer for Exxon Office Systems. He was recruited to Data General (DGC) in 1980 (now EMC) in software development, and product management. He led the team that built the first multi-user office system on minicomputers (called Comprehensive Electronic Office). Then in 1989, he founded the Object Management Group (creators of the industry software standard CORBA). The Group became known as the organization that brought object-oriented programming and distributed computing over the internet to the mainstream. In 1996, he was recruited as Executive Vice President at Novell (NOVL). Chris was part of the team responsible for the turnaround and resurgence of Novell. The team concentrated on Open Source, Linux, Directory Services (LDAP), and Internet technologies. Chris was responsible for Novell’s strategic direction, M&A (acquiring over 12 companies during this period) and technology leadership focusing on Directory Services and Identity Management/Security. In 1998, Chris formed Novell Ventures, a $50M (growing to $120m) fund that had early stage investments and exits in Red Hat, Akamai, Oblix, NetObjects, Bowstreet, enCommerce, Indus River, and others. His teams return was over 140% IRR.
Chris founded Tilion, the first hosted software service for supply chain management and eventually merged with two other companies. In 2001, returning to Novell as Vice Chairman, Office of the CEO, he developed the strategy to acquire SuSE Linux and Desktop Linux maker Ximian, which resulted in Novell becoming one of the world’s largest supporters and providers of Open Source Software. Through his career, he garnered numerous Linux and technology related awards, including being named a top ten entrepreneur by Red Herring, and one of The Top 50 People in High Tech by Ziff Davis. Chris is a director of iovation Software in Portland, Oregon and serves on numerous philanthropic boards. Chris has a B.S in Computer Science from the University of New Hampshire and an AMP/M.B.A from Harvard Business School.
New Strategic Advisors
Deborah S. Conrad Joins EPIC’s Strategic Advisory Board
Deborah S. Conrad is vice president and general manager of the Corporate Marketing Group. Conrad is responsible for Intel’s brand management, product positioning, product launch management and marketing research, as well as sales and integrated marketing communications, advertising, and promotional campaigns designed to reach consumer and business customers worldwide.
Prior to leading the Corporate Marketing Group, Conrad created and directed Team Apple and oversaw all aspects of the Intel and Apple relationship since the beginning of the partnership in 2005 through 2008. She was responsible for all aspects of the Intel and Apple business, including sales and revenue, product engineering, software development support and market development.
Before her role with Team Apple, Conrad led the Solutions Market Development Group, where she was responsible for worldwide sales development efforts and industry partner programs. She oversaw Intel’s extensive direct relationships with CTO/CIOs, industry-specific business development programs and alliances with enterprise ISVs, solution providers and telco service providers. From 1993 to 1999, she was marketing director for Intel’s Asia-Pacific Region, responsible for building brand equity and market development efforts throughout China, India, Taiwan, Korea, Southeast Asia, Australia and New Zealand. Conrad joined Intel in 1986 as Microprocessor Group Communications Manager, where she managed press relations, marketing communications, product advertising and related strategic communications programs. From 1990 to 1993, Conrad worked in corporate communications and helped build the worldwide press relations organization, including developing broadcast media, executive speech development and branding programs.
Paul Cormier Joins EPIC’s Strategic Advisory Board
Cormier leads Red Hat’s technology and products organizations, including engineering, product management and product marketing for Red Hat’s technologies. Cormier joined Red Hat in May 2001 as Executive Vice President, Engineering. Paul Cormier’s leadership and experience in enterprise technology has led to the introduction of Red Hat’s acclaimed line of enterprise products, including Red Hat Enterprise Linux. Cormier has been instrumental in forging tight partnerships with many leading technology companies.
Prior to coming to Red Hat, he served as senior vice president of research and development at BindView, helping the company achieve market leadership in 2000. Cormier holds a Master of Science in Software Development and Management from Rochester Institute of Technology.
IPO
Ancestry.com Jumps in First Day of Trading After IPO
Nov. 5 (Bloomberg) — Ancestry.com Inc., the largest online source of genealogical data, climbed as much as 21 percent in its first day of trading after an initial public offering. Ancestry.com jumped $1.26, or 9.3 percent, to $14.76 at 11:59 a.m. New York time on the Nasdaq Stock Market. The shares traded as high as $16.32 earlier in the session. The company sold 4.07 million shares for $13.50 each in a deal led by Morgan Stanley and Bank of America Merrill Lynch. Existing investors sold an additional 3.33 million shares. The company, based in Provo, Utah, has 1.1 million paying U.S. users and its IPO priced the stock less expensively than similarly sized Web companies, said Eric Guja, an analyst at IPO boutique Renaissance Capital LLC in Greenwich, Connecticut. The biggest question is whether enough people want to trace their family tree online to let the company grow as much as some investors expect, he said.
More…
Financings

EPIC Ventures invested in HyTrust, Inc. HyTrust is an early-stage start-up that is focused on virtualization platform security and compliance.
www.hytrust.com
EPIC Ventures invested in Ingeo Systems, Inc. With Ingeo’s Electronic Document Recording System, the nation’s most technologically advanced electronic document recording solution, submitters across the country are connected with county recording offices. This technology offers the most cost effective, legally compliant and efficient solution for recording electronic real estate documents.
www.ingeo.com
Porfolio Company Highlights
DiabeticConnect.com, Now the World’s Largest Online Diabetes Community, Leads the Fight Against Diabetes on World Diabetes Day

SALT LAKE CITY – (BUSINESS WIRE) – In connection with World Diabetes Day (Nov. 14, 2009), Alliance Health Networks today announced that DiabeticConnect.com is now the world’s largest online community for people living with diabetes. “With World Diabetes Day happening tomorrow, we’re excited to announce that our online community DiabeticConnect.com is proving to be a hugely informative and supportive destination for helping people with diabetes around the country and around the world,” said Stead Burwell, chief executive officer of Alliance Health Networks, creator of DiabeticConnect.com. “Being the largest means that we have created more connections and more opportunities for diabetics of all types – type 1, type 2, LADA, and more – to find information and support to help them live healthier lives.”
More…
Everspin Technologies Expands MRAM Portfolio by Introducing Family of Serial Interface Products

CHANDLER, Ariz. – Nov. 16, 2009 – Everspin Technologies is introducing the world’s first serial interface magnetoresistive random access memory (MRAM) family of products. These high performance non-volatile memory products are designed to enhance systems using the increasingly popular Serial Peripheral Interface (SPI) bus now common on many microprocessors, microcontrollers and other integrated circuits. “The market for high performance SPI memories is expansive and growing,” said Bob Merritt, partner at Convergent Semiconductors. “Everspin’s low power serial products will play a major role in providing new levels of performance and reliability to many systems, especially those requiring real-time data logging.”
More…
Aspen Avionics Announces First Helicopter Installation
Albuquerque, NM, October 27, 2009: Aspen Avionics, Inc., maker of the award-winning Evolution Flight Display System, announced today that the Dale County Sheriff’s Office located in Ozark, Alabama, is the first installation of an EFD1000H Pro Primary Flight Display (PFD) and an EFD1000H Multi-Function Display (MFD) into an operational helicopter. The Bell OH-58 helicopter, a military version of the Bell 206, is used by the department in regular airborne law enforcement activities. “Aspen’s entry into the rotary wing market has been eagerly anticipated by a large number of local-government operators,” said John Uczekaj, President and CEO of Aspen Avionics. “We’re pleased that our first OH-58 installation is in an aircraft that provides critical services to Dale County, while also increasing the safety of the helicopter’s crew.”
More…
|
 |
Where We’ve Been & Where We’re Going
October 5-6
- 2009 National Summit on Personalized Health Care – Deer Valley, UT (Todd & Kent)
October 12-13
- Sorenson Champions Challenge – Thanksgving Point, UT (Nick & Kent)
October 15-16
- nanoUtah 2009 5th Annual Nanotechnology Conference – SLC, UT
October 21
- TVC CCET Seminar: Preparing and Presenting the Business Plan – Rio Ranch, NM (Katie as the presenter)
October 23
- MWCN 2009 Utah 100 Awards – SLC, UT (Nick, Kent, Chris)
October 23
- UTC 2009 Hall of Fame – SLC, UT (Nick, Kent, Chris)
November 7
- UofU Utah Entrepreneur Challenge Conference – SLC, UT (Kent as a speaker)
November 19
- Sorenson Inventor Showcase – SLC, UT (Kent)
December 3-4
- Summit Director & Officer Training Conference – Deer Valley, UT (Kent)
December 9-11
- Invest Southwest Capital Conference – Scottsdale, AZ (Stephanie as the Vice Chair)
January 7-10
- 2010 International CES Conference – Las Vegas, NV (Kent)
January 28-30
- University Venture Fund Annual Meeting – SLC & Park City, UT (Chris, Nick, Kent, Spencer, Ryan)
February 5-6
- EPIC Ventures Annual Meeting – SLC & Deer Valley, UT (EPIC Team)
February 23-25
- VCIR Winter 2010 – Beaver Creek, CO (Nick as a Committee Member & Stephanie)
March 9-10
- Montgomery Technology Conference – Santa Monica, CA (Nick)
News/Press Articles
Aspen Avionics Announces Availability of Version 2.0 Software Upgrade for Evolution Flight Displays
Albuquerque, NM, November 06, 2009: Aspen Avionics, Inc., maker of the award-winning Evolution Flight Display System, announced today that it has released its Version 2.0 software upgrade kit to its dealers, allowing them to immediately begin upgrading EFD1000 Primary Flight Displays in the field to the new software level. The update is provided to dealers via a field upgrade kit from Aspen that includes a Secure Digital (microSD) card that quickly loads Evolution Flight Displays with new software updates and optional performance packages. The 2.0 software upgrade kit is free from Aspen Avionics, and any authorized Aspen dealer can perform the upgrades.
More…
Smile Reminder Introduces Text Confirmations to Time-Saving Platform
LEHI, UT, November 04, 2009 /24-7PressRelease/ — Comprehensive patient communication service, Smile Reminder, has just introduced text confirmations to its time-saving, revenue-boosting platform. As the first company to offer text message appointment reminders, Smile Reminder allows healthcare professionals to send customized texts and emails to patients to remind them of future appointments. Always aiming to streamline scheduling and bolster doctor-patient relationships, Smile Reminder is now further simplifying this process by launching its new text confirmation feature.
More…
Pivot Expands Instant Markets Product Line with Crude Oil Release
JERSEY CITY, N.J.–(BUSINESS WIRE)–Pivot, Inc., a leading provider of liquidity management and collaboration software to the financial markets, today announced the official release of its Instant MarketsTM product to the OTC crude oil market. Pivot’s Instant Markets product line enables users in conversational trading markets to monitor, manage, and analyze market liquidity and pre-trade data with greater efficiency than has ever before been possible. The principal features include: * Automatic, real-time translation of freeform chats into electronic data; * Sophisticated, customizable, and sharable liquidity data views; and * API access facilitating data flow between Pivot and users’ back office applications.
More…
Ingeo’s eRecording Solution Now Benefits 305 County Recorders
LOGAN, UT, October 17, 2009 /24-7PressRelease/ — Ingeo Systems, Inc., the nation’s number one provider of electronic document recording technology, recently added 15 more counties to its network, bringing the total to 305 – far more than any other provider in the electronic recording industry. New counties in Missouri expanded Ingeo’s county footprint dramatically, making Ingeo’s e-recording solution available to nearly 50% of the population in Missouri, from St. Louis to Kansas City.
More…
FMS to Offer New Web-Based Software Tool to Aid Mills in Measuring Efficiency
he PennentTM system combines Cargill’s successful Model Mill, Maintenance Manager and Mill Audit global solutions with FMS’ strong ability to develop and support commercial software to the animal feed industry. The system works by providing the ability to benchmark a mill’s internal cost standard and setting a cost model based on that individual mill’s specifications, which helps facilitate better decision making. Feed Management Systems is excited to be able to bring this offering to our customers as an additional tool available to them to aid in improving their business.
More…
CareFusion Deploys Lumidigm Sensors in Medication Cabinets
OSan Diego-based CareFusion has been putting fingerprint scanners in its medication cabinets since 1999 and in 2001 the company made it a standard in all its Pyxis medication dispensing units. But over the past seven years the company was noticing problems with the fingerprint scanners it was using, says Scott Bostick, senior vice president and general manger of medical dispensing at CareFusion. “Almost up to 80% of the time the nurses and pharmacists were successful using biometrics to access Pyxis,” he says. “But that left a gap 15% to 20% of the time in security and this wasn’t acceptable performance for us.”
More…
HyTrust Named Finalist in 2010 SC Awards
HyTrust, the leader in virtualization platform control, security, policy management and compliance, has been named finalist in the 2010 SC Awards program for outstanding achievement in information technology (IT) security. The company is recognized in the Excellence Award category as Rookie Security Company of the Year, which recognizes companies with superior security products that help customers tackle today’s pressing security challenges. “Our distinguished panel of award judges selected HyTrust as a finalist in our Excellence Awards category — recognizing its contribution to the world of IT security,” said SC Magazine Editor-in-Chief Illena Armstrong. “Businesses are challenged every day with newer and more sophisticated security threats and they rely on companies like HyTrust to help protect their assets.”
More… |