invencor - manager of the International Venture Fund (IVF). Directing managers - Debra Guerin Beresini and Kirk Westbrook. Directors - Richard Harding, Dan Macuga. Entrepreneur in Residence

invencor, inc.

Team

Daniel A. Macuga, Richard H. Harding, Debra R. Guerin Beresini, and D. Kirk B. Westbrook.

Debra Guerin Beresini debra@invencor.com	Debra Guerin Beresini has served as CEO of invencor, inc. since its inception in April 1997. invencor is the fund manager for several funds, both debt and equity, and provides strategic consulting services to emerging, high growth companies. Ms Guerin Beresini has been involved in planning and organizing various entrepreneurial conferences throughout the United States for over twenty years. As a co-founder and Managing Director of International Venture Fund (IVF), Ms. Beresini manages the healthcare and life science investments as well as the fund accounting and investor relations for the Fund. IVF is a Silicon Valley-based venture fund focused on seed and early stage emerging investment opportunities. The Fund's portfolio includes investments in Hawaii, New Mexico, Arizona and Utah, as well as Silicon Valley. Ms. Guerin Beresini previously held senior positions at the seed/technology-transfer venture firm of AR&D Corp., at the venture leasing arm of Ford/US Leasing, as a venture investor at Technology Funding, and as Senior Vice President and Manager of the National Division at Silicon Valley Bank. Under her guidance at Silicon Valley Bank, Ms. Guerin Beresini and her team built the National Division for the bank opening loan production offices throughout the Western United States. Ms. Guerin Beresini specializes in the life science and healthcare markets; successful investments include TheraTx (IPO in 1994, acquired by Vencor for $550 million in 1997), Systemix (acquired by Sandoz), Napo Pharmaceuticals, Inc. San Francisco, California, Hawaii Biotech Honolulu, Hawaii and AGIS Networks, San Ramon, California. Ms. Guerin Beresini speaks at various national conferences on financial strategies for private companies and technology transfer. She presently sits on the Board of AGIS Networks, San Ramon, CA; Hawaii Biotech, Honolulu, Hawaii; HiBEAM, a Hawaii based business accelerator and she is on the advisory board of the Pacific Asian Center for Entrepreneurship, University of Hawaii. She is also a member of the Board of Trustees for the Wayne Brown Institute located in Salt Lake City, Utah an educational nonprofit focused on mentoring entrepreneurs. Ms. Guerin Beresini graduated summa cum laude from Dominican University and has completed the Global Biotechnology program at UC Berkeley as well as several specialized courses in life science and biotechnology. Back to top

Kirk Westbrook kirk@invencor.com	D. Kirk B. Westbrook is the President and Chief Financial Officer of invencor, inc., which is a manager of several funds, both debt and equity, and provides strategic consulting services to emerging, high growth companies. In 1997, invencor, inc. assumed management of an existing seed fund associated with incubators in the State of Arizona, the Arizona Technology Venture Fund (ATVF). Several new investments were made and ATVF was fully liquidated in 2005. Mr. Westbrook is a co-founder and Managing Director of International Venture Fund (IVF). IVF is a Silicon Valley based seed stage venture fund with a portfolio including investments in Hawaii, New Mexico, Arizona and Utah, as well as Silicon Valley. Mr. Westbrook has or previously has held board seats on four of IVF's portfolio companies and he was instrumental in the sale of AdOn Network, Inc. to Prime Visibility Media Group. Mr. Westbrook has been involved with finance for over 20 years. In 1989, he accepted a position with Silicon Valley Bank, a nationally recognized debt and equity provider which specializes in serving early stage, pre-profit technology companies, most of which are venture backed. While at Silicon Valley, Mr. Westbrook worked in all of the lending areas of the Bank, as well as managed an extensive portfolio for several years in the Bank’s workout group. His last position was as Vice President in the Bank's National Division, then one of the fastest growing divisions within the Bank, where he actively developed client and venture capital relationships in Hawaii, Illinois, Minnesota, Texas, Utah and Wisconsin. He departed his post in April 1997 to form invencor, inc. In addition to his management and investment activity, Mr. Westbrook is a reviewer of Center for Commercialization of Advanced Technology grant submissions and an invited business plan judge or company selection panelist for venture conferences in the states of Arizona, California, Hawaii, Illinois, Texas and Utah. He served for many years as a board member of the non-profit Hawaii Venture Capital Association and is a member of the executive committee of HiBEAM, a Hawaii based business accelerator and the advisory board of the Entrepreneurs Foundation of Hawaii. Mr. Westbrook is a graduate of San Jose State University. Back to top


Richard Harding richard@invencor.com	Richard Harding is a Managing Partner with Santa Fe Venture Partners, which is a General Partner with the Silicon Valley based venture capital firm International Venture Fund I. IVF I is a seed and early stage Venture Capital group with investments in California, Arizona, Utah, Hawaii, and New Mexico. Mr. Harding directs all business activities for IVF in New Mexico. Since forming Santa Fe Venture Partners in 1998 and becoming a General Partner with IVF I, Harding has been actively involved in technology commercialization at the University of New Mexico, Sandia National Laboratory, and Los Alamos National Laboratory. He has served as on the Board of Directors of Science and Technology Center @ University of New Mexico where he was Vice Chairman and headed the Start-Up Committee. STC@UNM is the technology commercialization arm of the University and the Start-Up committee under Harding’s leadership has identified and guided high potential technologies through the start-up phase. In addition, Harding served as an Advisory Board Member for the Los Alamos National Laboratory Technology Commercialization Office where he assisted in the Lab’s technology commercialization efforts. Prior to moving to Santa Fe, Harding was a senior executive and member of Managing Committee with Silicon Valley Bank, Santa Clara, CA., the nation’s leading provider of financing to emerging, high growth technology and life sciences companies. At SVB he worked with dozens of start-up ventures to develop successful commercial companies. During his 28 year corporate and banking career, he held senior positions with First Interstate Bank and American Express International Banking Corp. with assignments in the US, Canada, Europe and Asia. Over the course of his career, he launched numerous successful new business entities within these corporate environments. Harding received his BA from the University of Montana, a graduate degree in International Management from the American Graduate School of International Management (Thunderbird Campus), and a MBA from Golden Gate University in San Francisco. He currently serves as a member of the Board of Directors for Concise Logic Systems, Inc, New Mexico Community Capital, New Mexico Private Investors, and, until its recent acquisition, Access Anytime Bancorporation/First Bank of New Mexico (NASDAQ:AABC). Mr. Harding previously held a board seat with Lumidigm, Inc, but remains on as an observer. Back to top


Daniel Macuga dan@invencor.com	Daniel Macuga is a Managing Partner with Santa Fe Venture Partners, which is a General Partner with the Silicon Valley based venture capital firm International Venture Fund I. IVF I is a seed and early stage Venture Capital group with investments in California, Arizona, Utah, Hawaii, and New Mexico. Since forming Santa Fe Venture Partners in 1998 and becoming a General Partner with IVF I, Macuga has been actively involved in program development, technology commercialization, strategic planning, and business development at Los Alamos National Laboratory. Prior to moving to Santa Fe, Macuga was CEO of a silicon valley start-up, COO of a northern California start-up, a senior executive with Cray Research, Inc. and has had extensive management experience with IBM Corporation. Along with his entrepreneurial and senior executive experiences as CEO and COO, he has had experience in sales, marketing, strategic planning and business development. As CEO of Calera Recognition Systems he developed and executed a corporate business strategy that was a forerunner of today's "virtual corporation". As COO of System Integrators, Inc., he took over a company with declining revenues and profits, turned it around with a new hardware platform and software strategy, and led it to become first in its industry sector. As Senior Director of Product Marketing for Cray Research, he was responsible for marketing programs, marketing communications, product announcement strategies, selling strategies, and new product initiatives. He is a former member of the Board of Directors for Coronado Venture Forum and has interacted extensively with the entrepreneurial community in northern New Mexico. He has a BS and MS in Mathematics from the University of Detroit. Back to top