Jack Stewart co-founded Affinity Fund 1, a separately managed sub-fund of Venture Capital Fund of New England IV, in 2001 and is also a significant Limited Partner in the fund. He has been involved in early stage New England venture capital virtually his entire career, first as a partner of Corning Venture Management for almost 20 years, followed by his founding of Kestrel Venture Management in 1995, and since 2001 as a Managing Director of Affinity Fund 1. Jack has also had a successful turn-around career with a number of New England-based industrial companies. In addition to his full-time role with Affinity, he has been an advisor to three other venture capital groups in the Boston area, as well as an active Board Member at both the New England Baptist Hospital and Thompson Island Outward Bound, where he chairs the investment committees of both organizations. Jack received his BS degree from Yale University and his MBA degree from Harvard Business School.
Carl H. Novotny, Managing Director
Carl Novotny co-founded Affinity Fund 1, a separately managed sub-fund of Venture Capital Fund of New England IV, in 2001 and is also a significant Limited Partner in the fund. As one of the Managing Directors, Carl oversees investments in all direct marketing and financial services related investments in early stage companies. Prior to co-founding Affinity, Carl was the co-founder of Affinity Partners International (a/k/a First USA Partners), the exclusive sales and business development arm of First USA Bank, the third largest credit card issuer in the US and now a wholly owned subsidiary of JP Morgan Chase. First USA Partners was a leading independent affinity marketing company in the US during the 1990’s and was sold in 1998 to First USA Bank/Bank One by Novotny and a former partner for more than $200 million. Carl also serves on the Philanthropic Advisory Boards of two practice areas at Boston Children's Hospital. Carl received his BA degree in Mathematics and Economics from Rice University and his MBA degree from Harvard Business School.
Gordon R. Penman, Managing Director
Gordon Penman co-founded Affinity Fund 1, a separately managed sub-fund of Venture Capital Fund of New England IV, in 2001 and is also a significant Limited Partner in the fund. He has more than 25 years of experience as a corporate attorney with Brown Rudnick Berlack Israels LLP, where he most recently served as chair of the Corporate Department and a member of the firm’s Management Committee. During his tenure with Brown Rudnick, Gordon helped grow the firm from a single office of approximately 30 lawyers in Boston to a firm with an international presence with offices in Boston, New York, Washington DC, Providence, Hartford, London, England and Dublin, Ireland. In his practice Gordon has extensive experience representing both investors and companies in venture finance transactions. Gordon received his BA degree in English and Philosophy from The College of William and Mary and his JD from the University of Virginia Law School.
George A. Aggouras, Chief Financial Officer
George joined AVG in August of 2005 and is responsible for the financial and accounting functions of the firm, including investor relations and reporting. George has over 15 years experience in the investment management industry and began his career with PricewaterhouseCoopers in 1992. He has served as CFO for two other venture capital firms, Claflin Capital Management and Massachusetts Technology and Development Corporation. George received his BS degree in Accounting from Babson College in 1993 and is a Certified Public Accountant.
Barbara A. Faron, Director of Administration
Barbara joined AVG in 2001 and is responsible for operations and administration. Prior to joining AVG, she worked for First USA Partners managing the administrative team assigned to selling co-branded and affinity credit card programs on behalf of First USA Bank and later Bank One, now a wholly owned subsidiary of JP Morgan Chase. Prior to that she also worked for Braxton Associates, now Deloitte & Touche Consulting LLP, where she participated in many strategy-consulting engagements. Barbara received her B.A. degree in Communications and Spanish from Simmons College.