2002 4th Quarter Roundtable
Event Date: November 13, 2002
Location: New York, NY
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Roundtable Presentations
Securing Funding from Funds of Funds
Dayton T. Carr, Founding Managing Director, VCFA Group
Mr. Carr is the founder of Venture Capital Fund of America, Inc. and its affiliated companies, and for the last eighteen years has been actively involved in its formation, investment selection and management. VCFA is the pioneer of secondary purchasing of venture capital and other private equity investments. VCFA is an investor in 132 private equity funds and has direct or indirect interests in over 600 venture-backed companies.
Mr. Carr is a member of the NVCA and is a member of the New York Venture Capital Forum. He graduated from Brown University in 1963 and received an MBA from Harvard Business School in 1965.
Presentation Topics
- The structure of the $8.0 billion secondary transactions market
- Taking the "In" out of an inefficient market
- Managing expectations of secondary LPs
Suggested Additional Readings
Presentation Downloads
- View Presentation Video
- View Slides (PDF Format)
Duties of Directors of Financially Troubled Companies
Paul P. Daley, Senior Partner, Hale and Dorr LLP
Mr. Daley concentrates his practice in bankruptcy and commercial law, including the representation of debtors, creditors' committees, trustees and secured and unsecured creditors in Chapter 11 reorganizations and Chapter 7 liquidations. He represents third parties acquiring debtors or assets in Chapter 11 reorganizations under Section 363 sales, and both debtors and creditors in common law practices including commercial litigation. He has had considerable experience in the areas of commercial finance, secured lending, venture capital, mergers and acquisitions, trade secret protection, licensing, franchising, and the Uniform Commercial Code matters often involved in commercial transactions and reorganizations.
Mr. Daley received a J.D. degree from Harvard Law School, an M.B.A. degree from Harvard Business School and an A.B. degree from Boston College.
Presentation Topics
- Duties to Creditors
- Potential Personal Liability
- Is Resignation Appropriate?
Suggested Additional Readings
- Duties of Directors 'In The Vicinity of Insolvency'
- Fiduciary Duties of Controlling Shareholders in Down Rounds
- Private Equity Funds and Fiduciary Duties
- Duties of Directors in Financially Troubled Companies [PDF]
Presentation Downloads
Innovative Employment Strategies To Minimize Employment Related Exposure
Martin Babinec, President & CEO, TriNet
Martin Babinec is President & CEO of TriNet, which provides a single-vendor solution for outsourcing benefits, payroll, and HR support. In 2001, TriNet earned revenues of $28.6 million and a place in the Inc. 500 Hall of Fame.
Mr. Babinec is a recipient of the Silicon Valley Entrepreneur of the Year award. He is a member of the international Young Entrepreneurs Organization and serves on the Board of Advisors to the Kauffman Foundation's Center for Entrepreneurial Leadership. He also serves as a guest lecturer with the Stanford Graduate School of Business.
Presentation Topics
- Board level risk assessment of employment related liabilities
- Keeping management focused on core competency by outsourcing non core functions
- Co-employment as an outsourcing and risk management strategy
Suggested Additional Readings
- Model Employment and Compensation Issues
- Golden Parachutes and Other Constraints on 'Excessive' Compensation
- Disclosure of Executive Compensation
Presentation Downloads
- View Presentation Video
- View Slides (PDF Format)
Detecting Fraud at Portfolio Companies
Jonny Frank, Partner, PricewaterhouseCoopers LLP
Jonny joined PwC as a partner in 1997 to help develop and lead the firm's general investigations practice. In 2000, Jonny transferred to PwC's Transaction Services Group to form and lead the Transaction Services Investigations Group, which includes M&A specialists, investigative attorneys, forensic and deal accountants, field investigators and on-line database specialists. The Group advises on Management Diligence, Deal-Related Claims & Disputes, Fraud Management and Portfolio Inquiries.
Jonny served as a Federal prosecutor in New York, after earning law degrees at Yale Law School and Boston College Law School, where he graduated first in his law student class. He became the Executive Assistant United States Attorney and Chief of Special Prosecutions, where he supervised all complex corruption and economic crime investigations. On behalf of the U.S. Justice Department, Jonny served as Special Counsel and Chair, Special Advisory Board, to the Special Mayoral Commission On Police Corruption in New York City. Following the downfall of communism, Jonny, on behalf of the Polish Minister of Justice and American Bar Association, trained judges and prosecutors about the investigation and prosecution of economic crime.
Presentation Topics
- Use of Forensic Accounting to uncover telltale signs of abuse
- Responsibilities of VC's in the Post Sarbanes-Oxley Environment
- Establishing controls that protect Boards from liability
Suggested Additional Readings
- PricewaterhouseCoopers MoneyTree Survey
- Sarbanes-Oxley: Some Practical Hints on Ways to Comply Effectively
- Controlling Shareholder and/or Director Liability
- Read the Policy: VCs and D&O Insurance
Presentation Downloads
- View Presentation Video
- View Slides (PDF Format)
Presented By
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