ITC Capital Appointments
AUCKLAND, 2 February 2000 - IT Capital Limited (ITC) today announced the appointment of two senior figures in the American venture capital and technology industries to its board of directors.
The appointments of Don Caldwell, Chief Executive Officer of the Philadelphia based Cross Atlantic Technology Fund and Jay Snider, President of Snider Capital take effect immediately.
The appointments reflect the investments made in IT Capital by Cross Atlantic Technology and Snider Capital.
IT Capital Managing Director Keith Phillips said the appointments reflected ITC’s continued intention to attract the best international connections possible.
“People like Don and Jay bring years of experience in the venture capital and technology businesses. ITC benefits not only from their expertise but also from the international networks they belong to.
“Their appointments directly reflect the globalisation of the venture capital and technology industries and the significance we place on being part of the world scene,” Phillips said.
Existing directors David Seton and John O’Hara have stepped down to make way for the new appointees.
ends
Don Caldwell, Chief Executive Officer,
Cross Atlantic Technology Fund
Cross Atlantic is a US$150
million investment fund based in Philadelphia, Pennsylvania
USA, with offices in London and Dublin. Don brings to IT
Capital a profound understanding of the venture capital
process bringing a wealth of contacts in the United States
and Europe. Cross Atlantic’s fund invests in Irish and UK
technology firms, with the intention of helping these young
companies find capital and strategic partners in the United
States.
Prior to this Don was President and Chief
Operating Officer of Safeguard Scientifics Inc., where he
served as Chairman of its Investment Committee and led the
formation of both SCP Private Equity Partners (a US$265
million venture, stage investment fund) and Pennsylvania
Early Stage Partners (a $50 million seed and early stage
fund).
Before joining Safeguard, Mr. Caldwell held a
number of executive and financial positions, including Chief
Administrative Officer of a predecessor company of Cambridge
Technology Partners, Inc. (Massachusetts), a provider of
information technology consulting and software development,
and as a partner in the national office of Ernst & Young,
LLP.
Jay Snider, Co-founder and President, Snider Capital
Jay Snider served as president of the Philadelphia
Flyers from 1983 to 1994 and president of Spectacor, Inc.
from 1987 to 1994. At Spectacor, he oversaw the management
of the Philadelphia-based sports, entertainment, retail
sales and communications conglomerate. He helped pioneer
the concept of an all-sports talk radio station for the
Philadelphia market by purchasing WIP-AM, music station, and
transforming it into the most successful sports talk station
in the country. He led the project team in the development,
planning and financing of the First Union Center, a $210
million state-of-the-art arena located in Philadelphia.
From 1988 to 1992, he served on the Board of Spectacor
Management Group (SMG), the world’s leading private manager
of public assembly facilities. He continues to serve as a
partner in Comcast-Spectacor.
Until its sale in January
of 1998, Jay served as Chairman of SpectaGuard, a provider
of trained security officers and electronic protection
systems for corporate, industrial, medical, financial,
educational and retail facilities. Founded in 1980 with his
partner, Steve Flynn, he had the overall responsibility for
strategic planning of the business. He is currently the
second largest shareholder and serves on the company’s Board
of
Directors.