Young Finance Professionals

Scott Petty, Managing Director at vSpring Capital - September 9th noon at the Zions Bank Founder’s Room

Scott knows how to add value from the outside in.  As a consultant with Bain & Company for seven years, he worked with more than 16 IT and non-IT companies, re-engineering their strategies for optimum results.

Prior to vSpring, Scott was COO and a Board Director of Zuka Juice, a retail organization selling nutritional products. Under Scott’s leadership, Zuka Juice grew from its first store to 96 retail units and over 400 employees. Zuka Juice was acquired by Jamba Juice (NASDAQ:JMBA), a venture backed competitor.

Scott serves on the Board of Directors of the Lassonde New Venture Development Center at the University of Utah. He also serves on the National Directors Council at the Utah Museum of Fine Arts.

Scott received a BS in Economics from Brigham Young University and a MBA from the Harvard Business School. Scott has led vSpring’s investments in Alianza, Alpha Bay, comScore (NASDAQ:SCOR), Control4, FamilyLink, Infusionsoft, LignUp, Public Engines, SwarmBuilder,  Zonder and Cerberian which was acquired by Blue Coat Systems, Inc. (NASDAQ:BCSI).

Gary Crocker, Chairman of Merrimack Pharmaceuticals and President of Crocker Ventures, LLC, April 21st, Noon, Zions Bank Founder’s Room

Gary Crocker initially invested in Merrimack and joined the Board in 2004, and was elected as Chairman in the spring of 2005. Mr. Crocker is President of Crocker Ventures, LLC, a life science private investment firm. He is in the midst of his second term on the Board of Directors of the Federal Reserve Branch of San Francisco and also serves as a member of the Advisory Board of Sorenson Capital, an LBO private equity fund. He has held senior executive or director level positions in several successful life science firms including service from 1998 to 2003 as Chairman of ARUP Laboratories, as a director of Interleuken Genetics, Inc, and LineaGen Genetics, LLC., and as a co-founder and director of Theratech, Inc. which was acquired in 1999 by Watson Pharmaceuticals. From 1983 to 1997, he was President/CEO and founder of Research Medical, Inc., a publicly traded cardiac device manufacturer acquired by Baxter International in 1997. Prior to Research Medical, Mr. Crocker was Vice President, Business Development and Director of Marketing for the Sorenson Research division of Abbott Laboratories, and an Internal Strategic Analyst for Baxter International. He was recently inducted into the University of Utah Science Hall of Fame, and serves as a director of the University’s Research Foundation. Mr. Crocker earned both his MBA and also graduated magna cum laude with a Bachelor of Science degree in Economics from Harvard University.

Jeremy Neilson, Managing Director, Utah Fund of Funds, Jan 12th, Noon, Zions Bank Founder’s Room

Mr. Neilson was tapped by State Economic Development to launch the newly born Utah Fund of Funds in 2003. As the first staff member, Mr. Neilson has been working for the program’s success for the past five years, three of which he was the sole management team member.  Mr. Neilson sits on the advisory boards of the Women Tech Council and Upstart Ventures.  Prior to the Utah Fund of Funds, Mr. Neilson was an associate with the University Venture Fund where he spent time working closely with local and national venture capitalists on company due diligence. Mr. Neilson started his professional career at Neilson Elggren, in their Los Angeles office, a fraud and bankruptcy forensic accounting firm, where he worked on a number of matters including Adelphia’s billion dollar bankruptcy and one of Americas largest Ponzi schemes.  Mr. Neilson holds a finance degree from BYU, an MBA from the University of Utah and a Juris Doctorate from Wake Forest School of Law.

Eric Jacobsen, Managing Partner & Co-founder, Dolphin Capital, Aug 19th, Noon, Zion’s Bank Founder’s Room

Eric is the managing partner and founder of Dolphin Capital, a boutique private equity fund which focuses on investments in companies with significant growth capital. Eric was CEO of Winder Farms for two years after Dolphin acquired the company and transformed it from a no-growth milk delivery company into the nation’s fastest growing grocery home delivery company.

Before Winder Farms, Eric founded Home Financial Network, a pioneer in the online banking space. That company sold to Sybase in 2000. Mr. Jacobsen also purchased and ran MECA Software, a consumer product tax software company. Under his direction, the company went public and then sold to H&R Block in 1994.

Beyond being an avid entrepreneur, he sits on a number of boards including Ragnar Events, Winder Farms, Dynamic Confections, Little Giant Ladder and St. Paul’s School in Concord, NH.

He is a dedicated adventure racer and recently traveled the world for seven months with his family.

Eric received a bachelor’s degree from Stanford University.

Click Here to view Eric’s Presentation

Greg Miller, CEO, Larry H. Miller Group of Companies, April 21st, Noon, Zion’s Bank Founder’s Room

As chief executive officer of the Larry H. Miller Group of Companies, Greg Miller oversees all automotive, sports and entertainment, and real estate divisions.  These holdings include 40 automotive dealerships and one motorcycle dealership located throughout six Western states; credit, insurance and advertising agencies; two professional sports teams; a motorsports park and an arena; an independent television station; restaurant and catering companies; a sports apparel retail chain; movie theaters; and an office complex.

Miller assumed his current position in July 2008 but has worked in the family business since 1979, when his father, Larry H. Miller, purchased his first auto dealership – a Toyota store located in Murray, Utah.  Greg Miller, who was 13 at the time, began his career by sweeping floors and working in the parts department.  Since then, the group has expanded into one of the nation’s 200 largest privately-owned companies.

Miller has 29 years experience working in a variety of positions that enabled him to learn the family business firsthand.  During that time, he focused on areas ranging from finance to minor league hockey.  His many accomplishments include: starting up Performance Automotive, which provides chemicals, printing and specialty products to auto dealerships; managing several multimillion dollar construction projects; and serving as general manager of both a Toyota and a Honda dealership.

Prior to his current position, Miller oversaw construction and had operational oversight of Miller Motorsports Park, in Tooele, Utah.  During his tenure, he was instrumental in developing and improving sales and marketing operations.  The state-of-the-art motorsports park garnered international recognition within its first year of opening.

Miller has served on the boards of several philanthropic organizations including: Larry H. Miller Charities; the Ron Boone Golf Classic benefiting the Huntsman Cancer Institute; the Utah Bicycle Coalition; and the Larry H. & Gail Miller Family Foundation.

An avid cyclist, Miller logs thousands of miles on his bike each year, and his interest in cycling led to several family vacations at the Tour de France.  He currently is chairman of the Tour of Utah, a multistage bicycle race that climbs 30,000 feet and is over 300 miles long.  Miller has played a significant role in the race’s growth and success.

During his teens, Miller developed an interest and appreciation of cars that continues today.  He still owns his first automobile, a 1965 Mustang fastback.

Miller has three brothers and one sister, and is the oldest child of Larry H. and Gail Miller.  He is married to Heidi Black Miller.  They are the parents of six children (three sons and three daughters), and their family resides in Sandy, Utah.

Rick Alden, Founder & CEO of Skullcandy, Dec 18th, noon, Zion’s Bank Founder’s Room

Rick Alden is the founder and CEO of Utah based Skullcandy, creators of headphones, mp3 player watches, audio accessories and other audio-enabled products, such as backpacks with built-in speakers and iPod controls. Alden’s Park City, UT business hit $35.7 million in sales last year (2007), according to Inc. (magazine).

While working for his Bachelor of Arts in political science from the University of Colorado at Boulder, Alden co-founded his first company, National Snowboard Inc (NSI), with Jim Gardner in 1986. Alden later sold NSI to the American Ski Association in 1991. After years of snowboarding, Alden launched his second venture in 1995, designing and patenting the first ever step-in snowboard boot and binding system. This venture was co-founded with snowboard industry veteran Brett Conrad, and launched under the brand name, Device Manufacturing. Four years later, Alden sold Device Manufacturing to Atomic Ski Company.

In 2003, Alden formed Skullcandy. The first Skullcandy product – the Skullcandy™ Portable LINK – was introduced at the 2003 Consumer Electronic Show (CES) in Las Vegas, where it won its first Design and Innovation Award. A few weeks later, the brand was launched to the action sports industry at the Snow Industries America (SIA) show.

The CEO of Skullcandy, Alden, was named one of vSpring Capital’s “Top 100 Venture Entrepreneurs” of 2008, and holds a patent for technology that integrates mobile phones and music players.

In September 2008, Alden was featured on CNBC’s The Big Idea with Donny Deutsch, starring Donny Deutsch. In 2008, he was also featured in Inc. (magazine) “Inc 5000 Award” for Skullcandy’s three-year (2004-2007) growth of 24,077.4%.

In addition to Alden’s entrepreneurship, he is the holder of numerous patents in the snowboarding, audio and electronics industry and fly fishing industries, including a design patent for the Orvis Batternkill Large Arbor Fly Fishing Reel.

He is a known resident of Park City, Utah where he lives with his wife (Holly) and four children (Preston, Brooklyn, Autumn, Tyler). He and his wife, Holly Alden, have been married since 1989.

David Carter, Serial Entrepreneur and Experienced Investor - June 26th, Noon, Zions Bank Founder’s Room

Having a long history of both entrepreneurship and involvement with venture capital, David Carter continues to enjoy seeing new technologies reach market adoption. Currently a Manager at private venture firm Upside Investments LLC, Mr. Carter has served on the board and invested in several companies including Cerberian (sold to Blue Coat (NASDAQ: BCSI), Zorch (sold to First Consulting Group (NASDAQ: FCGI), and Oakley Networks (funded by Kleiner Perkins and sold to Raytheon (NYSE: RTN).   Mr. Carter is currently a board member and early investor in CrimeReports, a developer of online law enforcement and public communications technology.  

At one of his own technology ventures, Mr. Carter served as founder, President and CEO of S5 Wireless, a world-leading developer of ultra-low cost, long-range, next-generation wireless location and telemetry technology that is successfully being implemented in consumer, enterprise and government applications.  Under his strategic direction, S5 Wireless has executed key milestones marking core technology developments, creating strategic partnerships, recruiting key management, and raising over $20 million from influential investors.  S5 Wireless is now poised for a strong entrance and leading role in the growing Location-Based Service (LBS) applications market—a sector that ABI Research values at $25 billion dollars by 2010. 

Prior to joining S5 Wireless, Mr. Carter was an Entrepreneur in Residence for Wasatch Venture Fund (Epic Ventures), a Draper Fisher Jurvetson affiliate.  In this role, he consulted the fund’s portfolio companies, providing strategic management expertise and financing support.  

From 1997 to 2000, Mr. Carter was Founder, President and CEO of Thoughtstar, the internet application developer of QuickTeam.  There, Mr. Carter developed the idea for the business’ principal product, QuickTeam.  His efforts led to the eventual enterprise sale of the software to Cisco, and subsequent acquisition of the company by iManage (NASDAQ:  IMAN), now Interwoven (NASDAQ:  IWOV). 

Mr. Carter made his first foray into the world of technology start-ups in 1988 with Vertical Technogies. Under his leadership as founder, President and CEO, the products Bar-One^TM and Barcode Anything^TM were developed and brought to market, quickly becoming the market leaders for retail barcode software.  In 1995, Vertical Technologies received the Utah 100 Award from the Mountain West Venture Group for the 20^th fastest growing company in Utah.  The company was subsequently sold to Zebra Technologies (NASDAQ: ZBRA), where Mr. Carter served as President of the newly created subsidiary.  Under his continued strategic direction, sales tripled in less than six months.   

Today, Mr. Carter is a member of the National Advisory Council for Weber State University, the Technology Advisory Council for Westminster College, and of vSpring v100. He also participates in Utah Angels, the investment committee for Kickstart Ventures, and he sits on the board of a number of charitable organizations.  

Mr. Carter has spoken at numerous industry events and has been quoted in major publications including Financial Times, Forbes, Business Week, The Washington Post, The San Francisco Chronicle, the San Jose Mercury News, The Seattle Times, USA Today, Conde Nest Portfolio, Motley Fool, Kiplinger, and many others. 

Mr. Carter received a Bachelor of Science degree in Computer Science from Weber State University.

Kent Madsen Managing Director Wasatch Venture Fund

Mr. Madsen is a Managing Director with the Wasatch Venture Fund and Zions SBIC.  He was also President, CEO and Director of MACC Private Equities, a later stage publicly traded private equity firm with interests in multiple industries.

Previously, Kent worked for Ford Motor Company in the Advanced Technology Group.  At Ford, Kent developed mathematical and computational models analyzing vehicle aerodynamics and thermodynamic properties.  He then transferred to China Operations where he helped write, present and negotiate joint venture proposals.

Kent is responsible for the oversight of the following Wasatch portfolio companies:  Pivot Solutions, Q Therapeutics, LeftHand Networks, S5 Wireless, Akimbo, Everdream and Linux Network.

Mr. Madsen has taught courses in Engineering Thermodynamics and co-authored the Solutions Manual for Fundamentals of Classic Thermodynamics.  He has a B.S. in Mechanical Engineering from the University of Pennsylvania, a M.S.E. from the University of Michigan, a M.A. in International Studies, and a M.B.A. from Wharton.

Recap: Kent gave a very informative presentation about venture capital and venture capitalists. He said that although venture capital investments create jobs, boost the economy, maintain competitiveness, and improve the quality of life venture capitalists are all about making money and they like entrepreneurs who aren’t necessarily motivated by money alone but by changing the world (stay away from entrepreneurs who drive a German car). He also said that he looks for revolutionary change in the company’s business model and to avoid analysis paralysis meaning it’s easy to get stuck in the analysis stage for too long and sometimes you just need to “move” and trust your gut.

Gary D. Kennedy–President and CEO, RemedyMD

Mr. Kennedy is the founder and managing partner of Double Eagle Ventures, a private venture fund. Mr. Kennedy was the first investor in TenFold Corporation, where he served as President and Chief Executive Officer. Prior to TenFold, Mr. Kennedy was President, Chief Executive Officer, and Chairman of PRC, Inc., a systems integration company and wholly-owned subsidiary of Black and Decker. Prior to joining PRC, Mr. Kennedy served in various management and executive positions at Oracle Corporation from its inception including SVP of Oracle and President of Oracle USA. He was one of the first 10 professional employees of Oracle. Prior to joining Oracle, Mr. Kennedy served as a Marketing Manager for Intel Corporation. Mr. Kennedy received a B.A. in Finance from the University of Utah and an MBA from Northwestern.

Recap: We had a great turn out with nearly sixty people attending our inaugural event.  Mr. Kennedy spoke to us about the many facets of risk using lots of colorful personal examples from his career.  In one experience, he enthusiastically told his dad he was going to leave Intel to work for the then little-known Oracle that had a 25% chance of success.  His dad was shocked and retorted that meant a 75% chance of failure.  With the huge success of the software giant, Oracle, Mr. Kennedy showed that playing it safe sometimes is the biggest risk.  We thank Mr. Kennedy for his insightful comments and for sharing his thoughts on risk.