News
April 6, 2006
Steven D. Hobman Joins the Board of Directors of the
Montgomery County Industrial Development Corporation
NewSpring Capital today announced that Steven D. Hobman, Partner, has joined the Board of Directors of Montgomery County Industrial Development Corporation (MCIDC). Steve’s term on the Board of Directors will run through 2008. “NewSpring Capital is proud of the fact that its Partners are affiliated with organizations such as the Montgomery County Industrial Development Corporation, whose mission and existence are so vital to our region,” stated Michael DiPiano, Managing Partner.
“I have known the Montgomery County Industrial Development Corporation and Carmen Italia, President, for nearly 20 years. I have seen first hand how MCIDC can assist businesses in its service area, and I am pleased to be a part of the organization,” stated Steve Hobman.
About Steven D. Hobman
Steve Hobman is a General Partner of NewSpring Mezzanine with more than 20 years of experience in the financing of middle-market and growth-stage companies. He has provided more than $400 million in such financing to these companies. He has been a commercial banker for 20 years at Meridian Bank, Progress Bank, and Comerica Bank. He founded TechBanc, the venture lending division of Progress Bank, which was purchased by Comerica Bank in 2002. He also co-founded Ben Franklin/Progress Capital Fund, L.P. in 1998 and NewSpring Ventures, L.P. in 1999. In addition to the MCIDC Board, Steve is also a member of the board of directors of Eastern Technology Council, Early Stage East, Neighborhood Health Agencies, Inc., American Compliance Systems, Inc., Fastech Integrated Solutions, LLC, The Matworks Company, LLC, and Rankin Corporation. He holds an A.B. from Franklin and Marshall College and an MBA from West Chester University.
About NewSpring Capital
NewSpring Capital is a $250 million family of venture capital funds focused on investments in the Mid-Atlantic region that has successfully built a family of three private equity funds—NewSpring Ventures I, NewSpring Mezzanine Capital, and NewSpring Healthcare.
About Montgomery County Industrial Development Corporation
Montgomery County Industrial Development Corporation, based in East Norriton, PA, is the key resource in Montgomery County for economic assistance and development for business. The MCIDC is dedicated to enhancing the county's economic balance and preserving its quality of life. The Corporation has a rich, successful history in attracting new business to the county and helping existing companies to expand in Montgomery County.
