The 16th Annual Venture Capital & Private Equity Conference

Emerging from the Storm

Saturday, February 13, 2010
Harvard Business School

Keynotes

Arthur Patterson
Co-Founder and Lead Investor
Accel Partners
Moderated By Josh Lerner

Arthur enjoys working with start-up entrepreneurial teams in Software and Service Providers. As the lead investor he has helped management teams develop their companies into market defining leaders. IPO's of such companies include: Actuate, (Reporting); MetroPCS, (Cellular Carrier); Portal Software, (Internet Billing); UUnet/MCI-WorldCom, (ISP); and Veritas, (Storage). He has also been a Director/Investor in many other information technology Companies which became public companies.

He is currently on the Boards of several private companies including: Aptana (Open Source Cloud Infrastructure); Arcot Systems (SaaS Authentication); Centrify (AD Based Identity Management); Coremetrics (SaaS Marketing Spend Optimization); Integral Development (SaaS FX Trading Systems); Iron Planet (Heavy Equipment Online MarketPlace); NewlineNoosh (SaaS and BPO for Print); NextG (Distributed Antenna Systems for Cellular Carriers). Recent private exits include: Counterpane (Security Monitoring and Response) sold to BT; Rapt (Media Inventory Optimization) sold to Microsoft; and Savi Technology (RFID based Supply Chain Management) sold to Lockheed Martin.

Prior to co-founding Accel Partners, Arthur was General Partner of Adler & Company. He started in venture capital at Citicorp Venture Capital. At Citicorp, he also managed a fund of publicly traded equities. Previously, Arthur worked in Washington for the International office of the U.S. Treasury Department - International Monetary, Trade and Development Policy.

Arthur served as the President of the Western Association of Venture Capitalists and a Director of the National Venture Capital Association. He received an AB and an MBA from Harvard.

Arthur lives in San Francisco with his wife, Louise Muhlfeld, and their four still intermittently perfect children ages 16, 15, 13, and 8.

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Scott M. Sperling
Co-President
Thomas H. Lee Partners

Mr. Sperling joined THL in 1994 and currently serves as Co-President. His current and prior directorships include Clear Channel Communications, Hawkeye Holdings, Thermo Fisher Corp., Univision Communications, Inc., Warner Music Group, Experian Information Solutions, Fisher Scientific, Front Line Management Companies, Inc., Houghton Mifflin Co., The Learning Company, LiveWire, LLC, PriCellular Corp., ProcureNet, ProSiebenSat.1, Tibbar, LLC, Wyndham Hotels and several other private companies.

Prior to joining THL, Mr. Sperling was Managing Partner of The Aeneas Group, Inc., the private capital affiliate of Harvard Management Company, for more than ten years. Before that he was a senior consultant with the Boston Consulting Group.

Mr. Sperling is also a director of several charitable organizations including the Brigham & Women's / Faulkner Hospital Group and Harvard Business School's Rock Center for Entrepreneurship and is the chairman of The Citi Center for Performing Arts and Wang Theater.

He holds an M.B.A. from Harvard Business School and a B.S. from Purdue University. He is married with four children.

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Matthew Bishop
US Business Editor
The Economist

Matthew Bishop is the US Business Editor and New York Bureau Chief of The Economist. Mr. Bishop was previously the magazine's London-based Business Editor. His new book, The Road from Ruin: How to Renew Capitalism and Put America Back on Top, with Michael Green, will be published by Crown in February 2010.

Philanthrocapitalism, his previous book (also with Green) on the global revolution under way in philanthropy, has been described as "terrific" by The New York Times columnist Nicholas Kristof, and as the "definitive guide to a new generation of philanthropists who understand innovation and risk-taking, and who will play a crucial part in solving the biggest problems facing the world" by New York's Mayor and leading philanthropist Michael Bloomberg. According to former U.S President Bill Clinton, "This is an important book. Our interdependent world is too unequal, unstable, and, because of climate change, unsustainable. We have to transform it into one of shared responsibilities, shared opportunities, and a shared sense of community. Bishop and Green show us how to do it." Mr. Bishop is also the author of Essential Economics, the official Economist layperson's guide to economics.

Mr. Bishop is the author of several of The Economist's special report supplements, including most recently A Bigger World, which examines the opportunities and challenges of the rise of emerging economies and firms; The Business of Giving, which looks at the industrial revolution taking place in philanthropy; Kings of Capitalism, which anticipated and analyzed the recent boom in private equity; and Capitalism and its Troubles, an examination of the impact of problems such as the collapse of Enron. In 1994, he wrote an acclaimed special report on corporate governance, Watching the Boss.

Before joining The Economist, Mr. Bishop was on the faculty of London Business School, where he co-authored three books for the Oxford University Press on subjects ranging from privatization and regulation to corporate mergers. Prior to that, Mr. Bishop was educated at Oxford University. He has served as a member of the Sykes Commission on the investment system in the 21st century. Mr. Bishop was also on the Advisors Group of the United Nations International Year of Microcredit 2005. Mr. Bishop has been honored as a Young Global Leader by the World Economic Forum. He has been interviewed on numerous media outlets, including NPR, BBC, CNBC, and the Charlie Rose show.

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Moderators

Josh Lerner
Harvard Business School

Josh Lerner is the Jacob H. Schiff Professor of Investment Banking at Harvard Business School, with a joint appointment in the Finance and the Entrepreneurial Management Units. He graduated from Yale College with a Special Divisional Major which combined physics with the history of technology. He worked for several years on issues concerning technological innovation and public policy, at the Brookings Institution, for a public-private task force in Chicago, and on Capitol Hill. He then earned a Ph.D. from Harvard's Economics Department.

Much of his research focuses on the structure and role of venture capital and private equity organizations. (This research is collected in The Venture Capital Cycle, MIT Press, 1999 and 2004, and The Money of Invention, Harvard Business School Press, 2001.) His new book, Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed?and What to Do About It, is being published in the Fall of 2009 by Princeton University Press. He also examines the impact of intellectual property protection, particularly patents, on the competitive strategies of firms in high-technology industries. (His book with Princeton University Press, Innovation and Its Discontents, addresses these issues.) He founded, raised funding for, and organizes two groups at the National Bureau of Economic Research – the Entrepreneurship Working Group and the Innovation Policy and the Economy Group – and is a Research Associate in the Corporate Finance and Productivity Programs and serves as a co-editor of their publication Innovation Policy and the Economy.

In the 1993-94 academic year, he introduced an elective course for second-year MBAs on private equity finance. In recent years, "Venture Capital and Private Equity" has consistently been one of the largest elective courses at Harvard Business School. (The course materials are collected in Venture Capital and Private Equity: A Casebook, John Wiley, now in its fourth edition.) He also teaches a doctoral course on entrepreneurship and in the Owners-Presidents-Managers Program, and organizes an annual executive course on private equity in Boston and Beijing. He recently led an international team of scholars in a study of the economic impact of private equity for the World Economic Forum.

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