The Team
The NewSpring Capital Investment Team is made up of 17 investment professionals with significant experience as private equity investors, operating managers and industry leaders, and is supported by NewSpring Capital Infrastructure. Each Investment Fund has a partner group of both fully dedicated partners and NewSpring Capital. The NewSpring Capital team is as follows:
NewSpring Capital Investment Professionals
NewSpring Capital Administration |
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Michael A. DiPiano
Mr. DiPiano is a General Partner of NewSpring Ventures and the Managing Partner of NewSpring Capital. Prior to joining NewSpring Capital, Mr. DiPiano was a serial entrepreneur and investor. He led or co-led the investment into six companies in the business services, healthcare and information technology industries. During that time, he was affiliated with Safeguard Scientifics (NYSE:SFG) and their related Funds. Prior to 1996, he spent six years as a division CEO and director of Chemical Leaman Corporation. Mr. DiPiano started his career in 1980 with Baxter Healthcare Corporation (NYSE: BAX) where he held numerous positions culminating as Vice President responsible for Operations and Sales of the Industrial Scientific Products Division. He currently serves on the boards of Femme Pharma; Continental Bank; I-pipline; CyberShift; Bluenog; and the University City Science Center, where he also sits on the Audit Committee. Mr. DiPiano has a B.S. from Penn State University and an MBA from Stern School at New York University. E-mail: MDiPiano@NewSpringCapital.com
Marc R. Lederman
Mr. Lederman is a General Partner of NewSpring Ventures and a Partner of NewSpring Capital. He has an extensive background in finance, consulting and accounting. Prior to joining NewSpring Capital, he was a Manager in the Business Assurance and Advisory Services Group of Deloitte & Touche. During his tenure at Deloitte & Touche, he led various projects within the financial services and healthcare industries, including mergers and acquisitions engagements, consulting projects and financial statement audits. He currently serves on the boards of CorrectNet, LiquidHub, The FeedRoom, and RealTIME. Mr. Lederman previously served on the board of directors of InnaPhase until its sale to Thermo Electron Corporation (NYSE: TMO) in September 2004. Mr. Lederman is an active member of the region’s venture capital community. He serves on the Executive Committee of the Board of Directors of the Mid-Atlantic Capital Alliance, the Steering Committee of the Mid-Atlantic Capital Conference, and is a national judge for the Ernst & Young Entrepreneur of the Year Awards. He is also an active panelist and supporter of the regional universities’ entrepreneurial programs. Mr. Lederman was selected as one of the Philadelphia region's “40 Under 40” young business leaders in 2005 and in 2001 received PhillyTech Magazine's “30 Under 30” award. He received a B.S. in Accountancy, cum laude, from Villanova University and an MBA from The Wharton School of the University of Pennsylvania. In addition, Mr. Lederman is a Certified Public Accountant. E-mail: MLederman@NewSpringCapital.com
Glenn T. Rieger
Mr. Rieger is a General Partner of NewSpring Ventures and a Partner of NewSpring Capital. Prior to joining NewSpring in 2004, he was a co-founder and managing director of Cross Atlantic Capital Partners, inc., the management company that oversees the operations of three venture funds with over $350 million in assets under management. He oversaw the operations of Cross Atlantic’s U.S. activities out of its Radnor, PA office and worked closely with several portfolio companies, including: Ecount, Gain Capital, and Management Dynamics. Prior to Cross Atlantic, he was a Senior Vice President for Safeguard Scientifics (NYSE:SFE) in charge of business development. In this position, he developed and oversaw merger, acquisition, investment and exit opportunities for Safeguard. In addition, he served as a business partner and director for five of Safeguard's partnership companies. Prior to joining Safeguard, he was a managing director of a boutique investment banking firm specializing in mergers and acquisitions, and President and Chief Executive Officer of a $1 billion California savings bank that employed over 250 people. He sits on the Board of Directors of NitroSecurity, Profit Point and Smart Destinations. He is active in the local venture capital community and for the 2004 program year chaired the Greater Philadelphia Venture Group, a trade association representing more than 80 venture funds representing approximately $12 billion in assets under management. He is a graduate of Colby College and has an MBA from The Wharton School of the University of Pennsylvania. Email: GRieger@NewSpringCapital.com
NewSpring Health Capital
Brian G. Murphy
Mr. Murphy is a General Partner of NewSpring Health Capital, General Partner of NewSpring Ventures, and a Partner of NewSpring Capital, with more than 20 years of private equity, corporate management and development experience, focused primarily in health care services. He has a strong background in business strategy, investment structuring, organizational growth, and negotiation of mergers and acquisitions. Prior to NewSpring, he founded Acquisition Management Services, Inc. (AMS), a diversified corporate development advisory firm focusing on middle market companies. AMS closed more than 330 acquisitions for its buy side clients. He has also founded two venture-backed startups, WordWave, a legal court reporting and broadcast captioning leader which was sold to Merrill Corp., and Precyse Solutions, a provider of medical transcription and health information services to acute care hospitals. Previously, he held executive positions for several health care service companies, most notably NovaCare, Inc., Heritage Health Systems, and Partners National Health Plans. He is currently the Chairman of the Board of RedPath Integrated Pathology, Habit Management, SongBird Hearing, Precyse Solutions and the Chairman of the Board for the Foundation Board of SUNY Cortland. He received a B.S. in science from the State University of New York at Cortland. E-mail: BMurphy@NewSpringCapital.com
Zev S. Scherl
Mr. Scherl is a General Partner of NewSpring Capital, with significant experience in principal investing, corporate management and finance, focused exclusively in the health care and life sciences industries. Prior to joining NewSpring in 2003, Mr. Scherl worked with Pequot Ventures, which managed venture funds in excess of $1 billion within Pequot Capital. Previously, he was a member of the health care investment team of Behrman Capital, a private equity investment firm which managed over $700 million. Before entering private equity in 1997, he served as Senior Director, Strategic Planning, for Value Health, the largest independent pharmacy and mental health benefit management company, where he structured multi-year contracts with leading pharmaceutical companies and executed key growth initiatives, prior to its successful sale to Columbia HCA. He also served as U.S. Manager, Pricing Policy at Merck & Co., and prior to that was in the investment banking group at Lehman Brothers. Mr. Scherl is currently a board member of Core Essence Orthopaedics, EKR Therapeutics, Immune Control, and Nitric BioTherapeutics. He was a board member of AppTec Laboratory Services prior to its sale to Wuxi Pharma and Scandius BioMedical prior to its sale to Covidien. He received a BA with honors in economics from Duke University and an MBA from Harvard Business School. E-mail: ZScherl@NewSpringCapital.com
Bruce L. Downey
Mr. Downey joined NewSpring Capital on March 1, 2009 as a Partner in NewSpring Health Capital II, L.P. Mr. Downey was formerly Chairman and CEO of Barr Pharmaceuticals, Inc., a global specialty pharmaceutical company that operated in more than 30 countries worldwide. Barr was acquired by Teva Pharmaceuticals in 2008. Mr. Downey joined Barr Pharmaceuticals, Inc. in 1993 and was appointed Chairman of the Board and Chief Executive Officer in 1994. Prior to joining Barr, Downey was a capital partner in Winston & Strawn, and a predecessor firm, Bishop, Cook, Purcell and Reynolds. In 1979, he founded Baller & Downey, which later merged with Bishop, Cook, Purcell and Reynolds. Mr. Downey began his legal career in the Honors Program at the U.S. Department of Justice. He later worked as a Special Litigation Counsel at the U.S. Department of Energy. Mr. Downey graduated with honors from Miami University in 1969 and received his law degree cum laude from Ohio State. He also served on the Board of Editors of The Ohio State University Law Journal and was elected to the Order of the Coif. Mr. Downey is a former director of Warner Chilcott. In 2006 and 2007, Mr. Downey served as the Chairman of the Board for the Generic Pharmaceutical Association (GPhA), the trade association for the generic pharmaceutical industry. Mr. Downey is currently the Chair of the Board of Ambassadors for Johns Hopkins’ Project RESTORE that funds research and clinical trials to support the creation of progressive treatments for transverse myelitis and multiple sclerosis. Email: BDowney@NewSpringCapital.com
NewSpring Mezzanine Capital
Steven D. Hobman
Mr. Panzo is a General Partner of NewSpring Mezzanine and a Partner of NewSpring Capital with nearly 20 years of experience in investment banking, venture capital, and operational management. Most recently, he was Chairman and CEO of Stonepath Group, a publicly-traded, third-party logistics company. As CEO, he was responsible for raising $75 million to execute a strategic consolidation of the non-asset based logistics industry. Prior to Stonepath, he was CEO of Net Value Holdings, Inc., the predecessor to Stonepath. Prior to Net Value, he was CEO of Brightstreet.com, and the founder and CEO of American Maple Leaf Corporation, a merchant bank affiliated with Canadian Maple Leaf Corporation. He is on the Board of Directors for York Telecom and Smooth Fitness. He has a B.S. in Finance from University of Connecticut and an MBA in Finance from Temple University. E-mail: APanzo@NewSpringCapital.com
NewSpring Capital Investment Professionals
Jonathan S. Schwartz
Mr. Schwartz is a Partner and Chief Financial Officer of NewSpring Capital, overseeing the financial and operational infrastructure of the NewSpring Capital family of funds. He is a CPA with more than 14 years of experience working with private equity, investment banking, and other asset management organizations. Prior to joining NewSpring, he was Director of Finance and Administration at EnerTech Capital, a $300 million venture capital firm. Previously he was a Senior Manager with Ernst & Young, where he provided accounting and business advisory services to clients in the financial services industry. He is a graduate of Tulane University A.B. Freeman School of Business. He is also a member of the American Institute of Certified Public Accountants, the Pennsylvania Institute of CPAs, and a board member of the Philadelphia Chapter of the Private Equity CFO Association. E-mail: JSchwartz@NewSpringCapital.com
Gregory W. BargerMr. Barger is a Principal with NewSpring Mezzanine with more than 22 years of experience in the financing of middle-market and growth-stage businesses. He was a Managing Director with Calvert Street Capital Partners where he helped to complete the investment of their mezzanine fund. In 2000, Mr. Barger was a Senior Vice-President at Mercantile Bank and founder of their private equity group. In this capacity, Greg grew the bank's portfolio of fund and direct investments to nearly $70 million. Prior to Mercantile, Greg was Director of Equity Research at Wilen Management. He worked at MNC Financial Corporation, a predecessor of Bank of America, where he held positions in credit, structured finance, workout and private banking. Greg holds a B.S. degree with honors in Finance from the University of Connecticut, an MBA from Loyola College, and is a CFA charter holder. E-mail GBarger@newspringcapital.com
Dr. Ratnam is a Senior Associate of NewSpring Capital having joined the firm in 2007. She has extensive experience in drug discovery and enabling life science technologies. Dr. Ratnam also has expertise in clinical drug development and Food and Drug Administration regulations. Her therapeutic domain knowledge, which spans oncology, anti-infective and metabolic diseases, was gained at large pharmaceutical companies and contract organizations. Dr. Ratnam has successfully worked with early-stage biotechnology companies to develop strategies to expand the utility of their platform technologies and seek new sources of funding. She has a Ph.D. from the Ohio State University and completed her postdoctoral training at the University of Pennsylvania. Dr. Ratnam also has an MBA from Columbia University. Email:
Mr. Jensen is an Associate of NewSpring Capital having joined the firm in 2005. Prior to joining NewSpring Capital, Mr. Jensen was a Senior Analyst at AIG Global Investment Group where he helped manage a $6 billion private equity portfolio. At AIG Global Investment Group, he was responsible for evaluating, selecting and monitoring investment opportunities in the venture capital and leveraged buyout sectors. Mr. Jensen graduated magna cum laude from the University of Delaware with a B.S. in Business Administration with a concentration in Finance and a minor in Economics. E-mail: EJensen@NewSpringCapital.com
Mr. VeVerka is an Associate of NewSpring Capital having joined the firm in 2006. Most recently, Mr. VeVerka was an Investment Banking Analyst at Credit Suisse. In this role, he assisted on several transactions in the financial institutions and financial technology sectors where his primary responsibilities were financial modeling, due diligence and deal marketing. Prior to Investment Banking, Mr. VeVerka worked in Credit Suisse's Information Technology division, where he worked closely with the Chief Technology Officer evaluating new technologies for the firm. While completing his degree, Mr. VeVerka spent two summers at Goldman Sachs and worked on the Chairman’s staff at American Financial Group / Chiquita Brands. Mr. VeVerka graduated from the University of Cincinnati's honors business program with a B.S. in Business Administration with a concentration in Information Technology and minors in Finance and Real Estate. E-mail: AVeVerka@NewSpringCapital.com
Ms. Vazquez is an Associate of NewSpring Capital having joined the firm in 2008. Most recently, Ms. Vazquez was a Senior Analyst at American Capital (NASDAQ: ACAS). In this role, she assisted in financial due diligence for buyout investments and sponsored finance transactions and was responsible for portfolio monitoring and valuations of portfolio companies. Prior to American Capital, Ms. Vazquez worked in KPMG's Philadelphia audit practice as a Senior Associate, where she worked primarily on healthcare, life science and information technology companies. Ms. Vazquez graduated from University of Rhode Island's business program with a B.S. in Business Administration with a concentration in Accounting and a minor in Leadership. Additionally, Ms. Vazquez graduated cum laude from Villanova University with a Masters of Accounting and Consultancy. E-mail: AVazquez@NewSpringCapital.com
Mr. Tedeschi is the Director of Investor Relations for NewSpring Capital, overseeing limited partner and consultant relationships across the NewSpring Capital Family of Funds. He has over 11 years of experience working with the private equity investor community including Institutions, Endowments, State Pension Funds and Family offices. Prior to joining NewSpring, he was part of SVB Capital’s Funds Management Team where he was responsible for the management of limited partner and consultant relationships for Silicon Valley Bank’s private equity and venture capital funds, which in aggregate exceeded $1 billion. Prior to SVB Capital, he managed Silicon Valley Bank’s Venture Exchange program, where he evaluated early stage technology and life science companies for investment while assisting clients to raise more than $120 million over a 2 year period. Previously, Mr. Tedeschi was part of SVB Securities, a fixed income asset manager with over $6 billion in assets under management, where he advised clients, as well as, several Bay Area Venture funds on writing and structuring investment policies and programs for their operating capital. Prior to joining Silicon Valley Bank, Charles worked as an Analyst with Morgan Stanley where he specialized in underwriting and placement of private securities. Mr. Tedeschi received his B. A. from Boston University and a Masters in Business Administration from Pepperdine University where he graduated Cum Laude. Email: CTedeschi@NewSpringCapital.com
Mr. Plevelich is an Analyst at NewSpring Capital having joined the firm in 2008 after graduation from the George Washington University. While completing his degree, Mr. Plevelich spent considerable time as an intern in the Office of the Vice Chairman at Washington D.C.’s largest full-service investment bank, Ferris, Baker Watts, where he performed in depth research for high net worth clients. Mr. Plevelich also spent a summer as an intern at NewSpring Capital. Mr. Plevelich graduated magna cum laude with a B.B.A with a concentration in Finance and a designation as a Dean's Scholar in Globalization. E-mail: MPlevelich@NewSpringCapital.com
Mr. Clariond is an Analyst of NewSpring Capital having joined the firm in 2010. Prior to joining NewSpring Capital, Mr. Clariond was an Investment Analyst at Vanguard where he evaluated and monitored multi-manager portfolios across various fixed income and equity mandates. In this role, he assisted in constructing multi-manager portfolios and co-managed the cash allocation process across all sub-advisor portfolios. As a member of Vanguard’s manager search team, he was also responsible for selecting prospective money managers by performing quantitative and qualitative due diligence. Mr. Clariond began his career in 2005 by joining Vanguard’s rotational leadership development training program: Analyst & Client Engagement (ACE). During his first two years with Vanguard, he developed a fundamental understanding of fixed income investing, trading, credit research and risk management while working in a variety of capacities including junior analyst and fixed income trader. Mr. Clariond is a graduate of Bowdoin College with a B.A. in Economics and Political Science. He is a CFA charter holder and a member of the CFA Society of Philadelphia. JClariond@NewSpringCapital.com
Ms. Tluczek is the Office Manager for NewSpring Capital, overseeing the administration of NewSpring Capital and NewSpring Ventures.
E-mail: MTluczek@NewSpringCapital.com
Ms. Egan is the Senior Accountant for NewSpring Capital. She joined NewSpring in 2006 with nearly 20 years of experience working in both the public and private accounting sectors. Prior to joining NewSpring Capital, she was an accountant for TL Ventures, which has over $1.4 billion under management. She is a graduate of West Chester University. E-mail: EEgan@NewSpringCapital.com
Ms. Reiser is an Administrative Associate for NewSpring Capital.
E-mail: MReiser@NewSpringCapital.com
