Carl Novotny became a General Partner of VCFNE in 2001
upon the formation of VCFNE IV, and is also a significant
Limited Partner in the Fund. As one of the Managing
Directors, Mr. Novotny oversees the fund’s investments
in all direct marketing related investments made by
VCFNE in early stage companies. He currently serves
as a member of the board of four VCFNE portfolio companies:
Associates in Internation Research, Inc., Saylent Technologies,
Next Mark Inc., and EMO Labs Inc.
Prior to joining VCFNE, Mr. Novotny was the co-founder
of First USA Partners, the exclusive sales and business
development arm of First USA Bank, the third largest
credit card issuer in the US, now a wholly owned subsidiary
of Bank One. First USA Partners was the leading independent
affinity marketing company in the US during the 1990’s.
Mr. Novotny sold the company to Bank One in 1998. Prior
to co-founding First USA Partners in 1990, Mr. Novotny
also co-founded Trans National Financial Services, a
pioneering company in the development of affinity marketing
of financial services, most notable affinity credit
card services and served as its COO until 1988. Mr.
Novotny is active in several non-profit groups including
the Philanthropic Council of Boston Children’s
Hospital Diagnostic Medical Center, North Hill Retirement Community,
and The Boston Foundation.
He received his BA degree from Rice University and his
MBA from Harvard Business School.
Gordon Penman has more than 20 years of experience as
a corporate attorney with Brown Rudnick Berlack Israels
LLP, of Boston, MA, where he is chair of the corporate
department. In his practice Mr. Penman has extensive
experience representing both investors and companies
in venture finance transactions.
He is admitted to practice law in Massachusetts and
Rhode Island, and is a member of the Boston Bar Association.
Mr. Penman received a BA from The College of William
and Mary and his JD from the University of Virginia
Jack Stewart has been involved in early stage New England
venture capital for over 25 years, first as a partner
of Corning Venture Management for over 19 years, followed
by his forming Kestrel Venture Management in 1995, and
currently as a founding partner of VCFNE IV. Individually,
Mr. Stewart has had an active and successful turn-around
career with numerous New England-based industrial companies.
In addition to his full-time capacity
with VCFNE IV, Jack is also an active advisor to three
other venture capital groups in the Boston area.
Mr. Stewart holds a BS degree from Yale
and an MBA from the Harvard Business School.
Director of Operations &
Barbara Faron joined VCFNE in 2001 and is responsible
for operations and administration. Prior to joining
VCFNE, she worked for First USA Partners managing the
administrative team assigned to selling co-branded and
affinity credit card programs on behalf of First USA
Bank and later Bank One. She also worked for Braxton
Associates, now Deloitte & Touche Consulting LLP,
where she participated in many strategy-consulting engagements.
Ms. Faron received a B.A. in Communications and Spanish
from Simmons College.