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Philip B. Smith, was appointed a Director and Vice-Chairman of iQVP in March 2000. Mr. Smith founded Citicorp Venture Capital in 1967 and served as its first President and Chief Executive Officer until 1972. Mr. Smith built Citicorp's pioneer venture capital group into a $40 million fund which, through subsequent expansions, has earned Citicorp over $7 billion to date. Among the major investments for which Mr. Smith shared responsibility while at Citicorp Venture Capital are: Autex, Autotronix Systems, Data 100, Datapoint, Entrex, Essence, Federal Express, James River Corp., Nuclear Assurance, Psychology Today, Storage Technology and Right-Away Foods. Mr. Smith's selection of young associates at Citicorp includes some of the current luminaries of the venture capital industry: Ed Glassmeyer (co-founder of Oak Investment Partners), Russ Carson and Pat Welsh (co-founders of Welsh, Carson, Anderson & Stowe), Larry Lawrence (founder of Lawrence Venture Associates), Bob Swanson (founder of Genentech) and Arthur Patterson (co-founder of Accel Partners). More recently, Mr. Smith has shared responsibility for successful early stage investments in Ciena Corp. and Advanced Technology Materials, Inc. He is also a special limited partner and co-founder of Utech Venture Capital Corp. located in Washington, D.C., which specializes in strategic investments in companies of interest to its public utility limited partners.
Following a series of senior management positions at Citibank, Mr. Smith joined Irving Trust Company as Executive Vice President and Group Executive of the Worldwide Corporate Group (1977-1984). Subsequently, Mr. Smith served as a founding partner of Lawrence Venture Associates and Arete Ventures, the management company of Utech Ventures (1984-1986). In addition, Mr. Smith was a Managing Director of the Merchant Banking Group of Prudential Securities (1986-1988), Vice Chairman and co-founder of Spencer Trask Securities (1988-1998) and is currently a co-founding member and Vice Chairman of Laird & Co., LLC. Mr. Smith is a director of Careside and Movie Gallery and sits on the board of directors of many private companies.
Mr. Smith holds a BSE in Chemical Engineering from Princeton University, an MBA from the Harvard Business School and is an adjunct Professor of the Graduate School of Business at Columbia University. | 