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David J. Freschman, MBA, CPA has served as the President and CEO of the Delaware Innovation Fund since its establishment in 1995. The Fund is a seed and early stage venture capital fund that focuses on entrepreneurial ventures in the Mid-Atlantic region. Mr. Freschman has been responsible for all aspects of the Fund's management since its inception, including the business strategy, fiscal and operational management, raising investment capital, and evaluating all investment opportunities and portfolio company management.
During the Fund's first year of operations, it was recognized as one of the "Four Best Models in the Nation" at the annual meeting of the National Association of Seed Venture Funds. In 2001, Mr. Freschman was appointed by Gov. Ruth Minner to chair the venture capital study of the state's Strategic Economic Council. In December 2001, the American-Israeli Chamber of Commerce presented to Mr. Freschman a joint citation from the Israeli Ambassador and the Mayor of Philadelphia for his economic development work between the Israeli technology community and the region. In 1998, the United States Small Business Administration awarded Mr. Freschman the financial Advocate of the Year Award for his activities in Delaware.
Mr. Freschman is active in the venture and entrepreneurial communities, sits on a number of Boards, and has been a lecturer on such topics at The White House Conference on Small Business, The Wharton School of the University of Pennsylvania, Temple University, the University of Delaware, Goldey-Beacom College, and Loyola College in Baltimore.
He is the creator and founder of Early Stage East - the premier early stage venture capital fair on the East Coast of the United States. Mr. Freschman was appointed and served a three-year term representing New Castle County, Delaware on the Small Business Advisory Council of the Federal Reserve Bank of Philadelphia.
Prior to establishing the DIF, Mr. Freschman was responsible for the formation of the corporate finance advisory division of McBride Shopa and Company, one of the largest certified public accounting and consulting firms in Delaware. He assisted clients in all financial, strategic, and tax aspects of business acquisitions ranging in size from $500,000 to over $10 million. Mr. Freschman began his career with the Enterprise Group of the Philadelphia office of Arthur Andersen, LLP, from 1984 through 1989.
Mr. Freschman graduated with honors with an MBA from Loyola College of Maryland and cum laude from the University of Delaware with a B.S. in accounting, where he was a John B. Lynch Scholar. He is also a member of Beta Gamma Sigma - the National Honor Society. | 