State of the Art Risk Management Funding Mid-Atlantic Innovation
The Team
Leadership
Claiborne Booker
Co-General Partner. Claiborne draws on his career in active investment management since 1985, working with institutional and private investors on global investment strategies, building portfolios, and evaluating performance. He also has experience in designing investment platforms around the world and is fluent in German.
Under the aegis of his own firm and with others, Claiborne has worked with early-stage investors and startups to raise capital and commercialize technologies. Claiborne has also co-chaired the DC chapter of the Booth Energy Network, focusing on energy and energy policy, and has been active in the Booth DC Entrepreneur’s Advisory Group.
Claiborne has an MBA from the University of Chicago, where he’s a member of the Polsky Center for Entrepreneurship, and a BA from St. John’s College, where he served on its Board of Visitors and Governors and continued service as a Director of the Alumni Association.
Amos Gilkey
Co-General Partner. Amos Gilkey brings a long-standing interest in reshaping the venture capital and investment fund paradigm. He is an entrepreneur, strategic advisor, and creative and career consultant with industry knowledge across a diverse set of global markets. Amos has been recognized for his ability to identify the market potential of early-stage ventures. He ranked in the top 25 out of over 1,000 business plan Reading Judges at a US-based organization for his predictive accuracy regarding the future market viability of startups.
Amos has exposure to family offices and their advisors, has had an active interest in the cleantech industry, and was a co-chair of a Clean Economy Network chapter.
Fluent in Dutch, he was Co-Founding Director of the Netherlands America Chamber of Commerce (DC Chapter) and has been active in the Booth DC Entrepreneur’s Advisory Group. He received a BA from Occidental College.
Joe Milam
Venture Advisor. Joe Milam is the Founder of AngelSpan/The Legacy Funds, a platform & solution to remove the gamble from funding innovation.
Prior to AngelSpan, Joe founded and managed Legacy Capital Management, Inc., a fee-based RIA. Legacy was originally headquartered at 3000 Sand Hill Road in Menlo Park. Managing both ‘old money’ and new – with clients from Sequoia Capital, Wilson, Sonsini, Goodrich & Rosati and Silicon Valley Bank, e.g., – gave Joe a unique perspective on both wealth preservation, wealth creation, and institutionally rigorous portfolio management. Having witnessed and participated in the birth of ‘modern’ angel investing, in 2000 Joe founded AngelSpan’s predecessor firm – Angel Legacy – to address the funding inefficiencies for early stage companies.
AngelSpan, and the Legacy Funds division (a Venture Turnkey Asset Management Platform, or V-TAMP), is a continuation of Joe’s experience as a portfolio manager, angel investor, and entrepreneur seeking to improve the funding experience for entrepreneurs, with more rewarding outcomes for investors.
From 3/31/96 to 3/31/09, Joe’s investment management firm was recognized as the top performing Large Cap Core Manager in the U.S., based on both absolution and risk adjusted returns.
He has been published multiple times in Institutional Investors Journal of Private Equity, Journal of Portfolio Management, and Practical Applications Journal and is a recognized expert in the optimal venture fund model.
Alec Boggess
Venture Advisor. Alec provides portfolio analysis for the Texas Legacy Fund and Performance Analyst for AngelSpan’s startup clients.
Prior to joining AngelSpan, Alec used his early time out of college developing skills in consultative sales and marketing. He joined a digital marketing agency, where he established himself as a valuable campaign creator and manager. Additionally, he wore a second hat in driving new client acquisition, further honing his abilities in business development.
Alec obtained his degree from the University of Texas, where he majored in Economics, with a focus and curiosity towards behavioral economics and finance.
Advisors
*Advisors receive certain compensation from Mid-Atlantic Legacy Fund Management LLC, including some combination of a portion of its management fee and/or incentive allocation and may receive other compensation, all of which is solely borne by Mid-Atlantic Legacy Fund Management LLC. In addition, Advisors, based on the services they are providing to a particular portfolio company, which are permitted to be provided through their affiliated entities, may be eligible to receive additional compensation and reimbursements from a portfolio company in connection with such services and investors should expect to bear the cost of such amounts. Such additional compensation and reimbursements will not be borne out of, offset or reduce the compensation payable to Mid-Atlantic Legacy Fund Management LLC. We reserve the right to change the compensation of these Advisors over time. Advisors may make a capital investment in the General Partner as part of their commitment to Mid-Atlantic Legacy Fund Management LLC.
The Problem
- Approximately 2/3 of all venture capital invests in 3 metro-regions.
- Entrepreneurs NOT in those communities struggle for funding and consequently, search for funding elsewhere.
- Economic benefits of innovation are NOT geographically distributed.
86 of the nation’s largest 100 metros have either seen their share of the national (digital service jobs) sector go sideways or actually shrink since 2010.
– Brookings Institute
Why Entrepreneurs Care
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Funding
Mid-Atlantic startup CEOs now have a defined, transparent path to funding and no longer have to pitch. Instead, they’ll complete an online application.
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Time
With a clear path to funding, entrepreneurs can dedicate more time to building their business and fostering relationships with those that care about their success rather than spend an exorbitant amount of time trying to entice investors.
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Access
Entrepreneurs should be visible to investors that care about the breakthrough technology they are creating. The Fund and its advisors can provide companies with best-in-class tools and hands-on mentoring so long as the companies maintain a commitment to transparency.
Why Community Leaders Care
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Transparency
Company specific and portfolio analytics to monitor execution and identify holdings that merit follow-on funding.
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Risk Management
An early-stage venture fund that genuinely manages portfolio risk using institutionally rigorous diversification and security selection strategies.
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Tax Efficiency
Optimize on existing tax laws that can lower the after-tax risks and render profits potentially tax-free.
Solution
The Mid-Atlantic Legacy Fund applies the latest tools and research, establishing an institutionally rigorous and scalable way to invest in local innovation.
Worthy startups across the Mid-Atlantic will gain access to the resources they need to build their businesses, and venture investors in the Mid-Atlantic Legacy Fund will be positioned to benefit.
Traditional VC Funds
Portfolio Transparency
Inefficient analysis and monitoring
Standardized Reporting
Inconsistent, if any
Institutional Approach
Lack any rigor or systematized method
Capital Deployment
Inefficient, deal by deal, followers
Tax Advantages
Few concerned with after-tax returns
Thesis Focused
Scattered focus, followers
The Mid-Atlantic Legacy Fund
Portfolio Transparency
Company and portfolio level analysis
Standardized Reporting
Monthly updates and quarterly reports
Institutional Approach
Multi-factor filter to de-risk seed portfolio
Capital Deployment
Diversified and disciplined
Tax Advantages
QSB §1244 and §1202 optimized
Thesis Focused
The Mid-Atlantic’s bright future of innovation
