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Mr. Reed has a thirteen year history of active venture capital and private equity investing. He began his professional investing career as General Partner of Endeavor Capital Management of Westport, CT in 1993. At Endeavor, he led activities in technology companies including Harbinger, CareerSite, and Online Technologies. He was significantly involved with the operations of several portfolio companies including Supply Tech (Harbinger Corporation) where he led strategic acquisitions and business development that resulted in the development of Harbinger Corporation as one of the largest public eCommerce/EDI businesses.
Mr. Reed stepped away from Endeavor from 1998 to 2003 to found and finance Fullscope, an IT services company. He led the effort to raise $18 million for Fullscope and ultimately merged Fullscope with Red Klay. Today, Fullscope is a significant software development partner with Microsoft and is on plan to achieve more than $14MM in revenue in 2006.
In 2003, the Limited Partners of funds managed by Endeavor Capital Management requested that he assume the role of General Partner of the Strome Endeavor Partners Funds I and II, which had a combined $60MM of investment capital. Mr. Reed accomplished this by forming Endurance Ventures, which focused Endurance's activities on two portfolio companies (NWP Services Company and EcoDuro) into which he made follow-on direct investments that totaled an additional $4MM. Mr. Reed is currently a board member of NWP Services Company and is the Chairman of EcoDuro. During his tenure with NWP, he negotiated and closed the sale of a software subsidiary (Open-C) to Accenture for cash and a ten year management agreement for outsourced IT support that immediately lowered NWP's IT costs.
Mr. Reed began his career in software development, sales and general manager. He developed his IT experience at companies such as Emerald Intelligence, where he managed the business through a turnaround, American Way Life Insurance, where he was the VP of Information Technology. He began his IT career at UMI a Xerox subsidiary, where he was on the team to develop the first commercial CD ROM product.
Mr. Reed was a founding limited partner of Pennell Ventures' Marathon Funds and currently serves as a member of both the advisory board member and the investment committee. He is also a limited partner and venture partner at Greenhill Partners, a $100MM fund based in New York. He sits on the boards of the Michigan Venture Capital Association, the Michigan State University Center for Venture and Private Equity, NWP Services Company, 7th Online, EcoDuro, Inc. and is on the advisory board of SOHO Capital.
Mr. Reed has Bachelor of Science in Physics-Engineering from Eastern Michigan University. He has his private pilot license and is an accomplished rock climber. | 