About the Board
Phillip Grimm, Chairman, brings 25+ years of proven track record in managing both large scale organizations and emerging businesses. Serving as the Chief Financial Officer and then the General Manager of DOD Electronics, Mr. Grimm was instrumental in growing this high technology consumer electronics business from sub $10 million revenue to more than $50 million in a short three years.
After successfully serving in Corporate America at executive levels for almost 15 years with such companies as Motorola, Bomar Instrument, Harman International and Bull HN Information System, Mr. Grimm decided to venture into developing his own portfolio of business ventures and successfully completed acquisitions, business stabilization and growth, culminating in successful exits with high multiple returns over a 10 year period.
Some of his prior companies in this area are US Currency Protection Corporation, Global Pursuit Systems, GeoTrax, and Flight Link. Post his M&A business, Mr. Grimm served as the CEO for DxNA LLC, a company bringing leading edge technology to the Biomedical field in the area of rapid and portable disease-diagnostic solutions. Since 2011, Mr. Grimm has been devoting his time to his consulting services, mentoring emerging businesses and participating in early stage financial investments.
Bradley B. Bertoch serves as President of VentureCapital.org—a 35 year old nonprofit, nationally recognized, entrepreneurship/technology commercialization organization. VC.org does two things very well: 1) Picks potential winners, and 2) turn them into winners through a venture community based mentoring program. Studies show that 70% of VC.org Alumni raise capital, and 80% are still in business after 10 years. Since 2009, Utah companies participating in a VC.org venture program have gone on to raise over $1.1 billion in Angel/venture capital transactions, over $10 billion in exits, and account for over 30,000 jobs. He is a member of SLC and Park City angel groups and founder of WBI Angels, was a venture partner with Hamilton Bio-Ventures Fund II, and currently runs a $7 million venture debt fund for Salt Lake County.
Kathy Ricci is a Business Advisor with the Goldman Sachs 10,000 Small Businesses Program at Salt Lake Community College. She is the former CEO/Executive Director of the Utah Microenterprise Loan Fund (UMLF). While there, she led the organization in lending over $15 million to over 900 businesses resulting in the creation/retention of over 1,600 jobs. Kathy received the South Salt Lake Chamber 2016 Business Person of the Year Award, 2015 Salt Lake Chamber Women & Business Pathfinder Award, 2015 Business Woman of the Year for the Utah Hispanic Chamber of Commerce and was included in the Utah Business Magazine 2011 “30 Women to Watch”. Kathy has served on the Board of the Pete Suazo Business Center, South Salt Lake Chamber and Utah Hispanic Chamber of Commerce. Prior to the UMLF, she was the Associate State Director of the Utah Small Business Development Center in which she assisted in the management of a statewide program providing small business counseling and training. Kathy has a B.S. degree in Finance and Management and a MBA from the University of Utah.
Michael Sears graduated from the University of Utah, magna cum laude, with degrees in history and economics. He earned his Juris Doctor from Boston University. While in law school, he founded two software companies. After returning to Utah, Michael began volunteering at VentureCapital.org and later started working for the Salt Lake City Angels. Today, Michael splits his time between Palo Alto, California, where he works as an attorney for Stoel Rives, LLP, advising early stage companies and investors, and Salt Lake City, Utah, where he continues to work as General Manager of the Salt Lake City Angels.
Jerry Vance is a managing member of Preferred CFO Solutions, a full service consulting firm that provides its clients with outsourced finance and accounting solutions. From high-level CFO consulting to controller and basic accounting functions, Preferred CFO’s timely results give management teams of all sized companies the information and support that they need to make critical decisions.
Matt Warnock, a recovering attorney, practiced law in California’s Silicon Valley area before relocating to Utah in 1998. Matt came to Utah to work on multiple M&A transactions for a private venture company. He joined RidgeCrest Herbals as COO in 2001, and added the title of VP Marketing in 2003. He was appointed President in 2005, and became a co-owner in 2007. Today he leads a talented team that has continued to innovate and break new ground in natural remedies. Matt has been an Entrepreneur in Residence at the Wayne Brown Institute and a member of WBI’s Cooperate Venturing Network® (mentoring network) for 15 years. He is a graduate of BYU and the J. Rueben Clark BYU School of Law.
Board of Trustees:
Chris Anderson, Durham, Jones & Pinegar, is a Shareholder in the Firm’s Salt Lake City and Lehi offices. His practice focuses on M&A, Business and Finance, Private Equity, Securities, International, Life Sciences, and other technologies. Mr. Anderson has worked for many years in the venture capital arena, representing both investors and their portfolio companies. He enjoys representing high-growth companies throughout their life-cycle, with respect to both financing transactions and the myriad business transactions they deal with.
Michael Keene is currently both the Director of Graduate Business Programs and the Director of the MBA in Technology Management Program in the Gore School of Business at Westminster College. Dr. Keene holds a B.A. in Biochemistry from Princeton University, a MBA and a Ph.D. in Biochemistry and Molecular Biology from Harvard University. Over the last 25 years he has conducted and managed programs in fields ranging from environmental remediation to fuel cells, and cystic fibrosis to fruit fly genetics. Although widely published during his research career, he soon left academia to become a member of the start-up team for Integrated DNA Technologies, Inc., and has since been an executive, founder or board member for a number of technology-based firms. Prior to joining Westminster, he served as both the State Science Advisor and Director of the Utah Centers of Excellence Program under Governors Leavitt and Walker. A co-founder of the Utah Life Sciences Association, he also now sits on the Advisory Council for the Centers of Excellence Program and the board of the Utah Technology Council, and remains active as a company mentor for the Wayne Brown Institute, an external reviewer for the University of Utah’s Technology Commercialization Office, and in numerous other roles within the local community.
Marcia Nelson is a Managing Director of Alberleen Family Office Solutions where she focuses her time and energy on building and maintaining her network of family offices and private investors. Ms. Nelson has a 20 year track record of working with family offices and their advisors, having developed a strong network of investors seeking direct and co-investment opportunities, collaborating with other families and creating thought leadership around impact investing and philanthropic giving. She started her family-office career working for an ultra-high-net-worth philanthropic family, and subsequently managed business development and relationship management in the areas of estate planning, finance and accounting. Ms. Nelson currently serves as the Executive VP of the board of ACG-NY and is a member of the Family Office Committee. Ms. Nelson is passionate about supporting women and is a former board member of Women in the Boardroom, and was the founder and CEO of Deals & Divas – an organization that brought together women entrepreneurs, advisors and investors. Ms. Nelson completed her undergraduate work at Southern Utah State College and her MBA at Fordham University in NYC.
Matthew Orr is responsible for the origination and underwriting for Stonehenge’s New Markets Tax Credit Federal program, as well as assisting with deployment of state allocations in Florida, Oregon, and Utah. Mr. Orr has led or assisted with deploying over $172MM of Federal NMTC allocation in 20 transactions and $187MM of various state NMTC allocations in 24 transactions. Prior to joining Stonehenge, Mr. Orr served as a resident advisor for the Evans Scholarship Foundation overseeing 76 Evans Scholars and managed the group living facility on The Ohio State University’s off campus. His background also includes experience as a financial analyst with Procter & Gamble. Mr. Orr, who is an Evans Scholar, earned his BS in Finance from The Ohio State University.
David Rudd is a partner in the Business and Finance Department at Ballard Spahr LLP, partner-in-charge of the International Group, and a member of the Life Sciences/Technology, Energy and Project Finance, Mergers and Acquisitions/Private Equity, P3/Infrastructure, and Securities Groups. Mr. Rudd practices exclusively in the area of complex domestic and international business transactions in a wide variety of legal fields and industrial sectors.