Conversations with Investors Chapter Three
Dr. Earl R. Smith II
Managing Partner,The Federal Circle DrSmith@Dr-Smith.com www.Dr-Smith.com
Jack Biddle, Co-Founder and General partner,Novak Biddle Venture Partners In this series of articles, I describe interviews with investors in the Washington DC area.They range from angel investors to managing partners in well established funds. I haveknown most of them for many years. That allowed us to cut through the usual PR crapand get to the heart of how they review investment opportunities. When I told themthat my objective was to provide a series of articles which would help companiesseeking funding, each was very willing to help it is, after all, in their interest toimprove the process. I owe each of them a debt of thanks for agreeing to sit down and open the kimono so to speak.The first article in the series Conversations with Investors Chapter One focused on Jim Hunt of The MITA Group. Jim is afairly typical angel investor a successful entrepreneur who hasturned to investing on early-stage companies. The second interview Conversations with Investors Chapter Two was with a closeassociate of Jims, JS Gamble. My next interview was with JackBiddle. Jack is co-founder of Novak Biddle Partners and one of themajor players in the private equity game in the Washington DC area.
Interview with a Venture Capitalist
Prior to co-founding NBVP in 1996, Jack was President and CEO of InterCAP, a venture-backed computer software company. InterCAP was number 18 on the Fast 50
list of the mid-Atlantics fastest growing companies and was acquired by Intergraph in 1995.From 1987 to 1990, Jack rose from Senior Associate to Partner at Vanguard Atlantic,Ltd., a merchant banking group focused on M&A advisory work and control investmentsin software companies. At VAL, he served as turnaround CEO of a system softwarecompany and then as COO of an application software company. Earlier in his career hewas an IT Industry Generalist, focused on Telecommunications Technology, at theGartner Group, where he was also Executive Assistant to the CEO, Gideon Gartner. Hebegan his career in 1983 in Austin, Texas at Business Development Partners, an earlystage venture capital partnership. Jack holds a BA in Economics from the University of Virginia.Jack currently serves on the Boards of WealthEngine, Vision Chain (Chairman),CorasWorks (Chairman), Triumfant, eMinor, ObjectVideo, Starfish Retention Solutionsand Appian Corporation. Past Board or Observer seats include SafeView, Inc. (acquired