Carl H. Novotny  • Gordon R. Penman  
  E. Jack StewartBarbara A. Faron

 

Carl H. Novotny
Managing Director


Carl Novotny became a General Partner of VCFNE in 2001 upon the formation of VCFNE IV, and is also a significant Limited Partner in the Fund. As one of the Managing Directors, Mr. Novotny oversees the fund’s investments in all direct marketing related investments made by VCFNE in early stage companies. He currently serves as a member of the board of four VCFNE portfolio companies: Associates in Internation Research, Inc., Saylent Technologies, Next Mark Inc., and EMO Labs Inc. Prior to joining VCFNE, Mr. Novotny was the co-founder of First USA Partners, the exclusive sales and business development arm of First USA Bank, the third largest credit card issuer in the US, now a wholly owned subsidiary of Bank One. First USA Partners was the leading independent affinity marketing company in the US during the 1990’s. Mr. Novotny sold the company to Bank One in 1998. Prior to co-founding First USA Partners in 1990, Mr. Novotny also co-founded Trans National Financial Services, a pioneering company in the development of affinity marketing of financial services, most notable affinity credit card services and served as its COO until 1988. Mr. Novotny is active in several non-profit groups including the Philanthropic Council of Boston Children’s Hospital Diagnostic Medical Center, North Hill Retirement Community, and The Boston Foundation. He received his BA degree from Rice University and his MBA from Harvard Business School.

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Gordon R. Penman
Managing Director


Gordon Penman has more than 20 years of experience as a corporate attorney with Brown Rudnick Berlack Israels LLP, of Boston, MA, where he is chair of the corporate department. In his practice Mr. Penman has extensive experience representing both investors and companies in venture finance transactions. He is admitted to practice law in Massachusetts and Rhode Island, and is a member of the Boston Bar Association. Mr. Penman received a BA from The College of William and Mary and his JD from the University of Virginia Law School.

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E. Jack Stewart
Managing Director


Jack Stewart has been involved in early stage New England venture capital for over 25 years, first as a partner of Corning Venture Management for over 19 years, followed by his forming Kestrel Venture Management in 1995, and currently as a founding partner of VCFNE IV. Individually, Mr. Stewart has had an active and successful turn-around career with numerous New England-based industrial companies. In addition to his full-time capacity with VCFNE IV, Jack is also an active advisor to three other venture capital groups in the Boston area. Mr. Stewart holds a BS degree from Yale and an MBA from the Harvard Business School.

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Barbara A. Faron
Director of Operations & Administration

Barbara Faron joined VCFNE in 2001 and is responsible for operations and administration. Prior to joining VCFNE, 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. She also worked for Braxton Associates, now Deloitte & Touche Consulting LLP, where she participated in many strategy-consulting engagements.
Ms. Faron received a B.A. in Communications and Spanish from Simmons College.

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