Venture Fund Member Profile
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NewSpring Capital, based in Radnor, Pennsylvania, and Short Hills, New Jersey, is a leading provider of private equity capital to the Mid-Atlantic region. NewSpring Capital currently manages over $500 million across three distinct investment strategies through its family of funds.
Across all funds, NewSpring Capital investment professionals include eight partners with significant experience as private equity investors, operating managers, and industry leaders at the CEO level. The firms highly cohesive investment team has a strong track record of investing in both private and public transactions, collectively representing more than 100 years of experience investing over $1 billion.
All three NewSpring Capital funds work closely together. Yet each fund maintains its own dedicated senior management team, investment committee and limited partner advisory board. While in some cases the funds may co-invest, each fund operates independently, investing in non-competitive asset classes, stages, and industries.
NewSpring Ventures provides equity capital to growth and expansion stage companies with a focus on business services, enabling technologies, and information technology.
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Glenn T. Rieger
General Partner
NewSpring Capital |
Mr. Rieger is a General Partner of NewSpring Ventures and a Partner of NewSpring Capital. Prior to joining NewSpring in 2004, he was a co-founder and managing director of Cross Atlantic Capital Partners, inc., the management company that oversees the operations of three venture funds with over $350 million in assets under management. He oversaw the operations of Cross Atlantic�s U.S. activities out of its Radnor, PA office and worked closely with several portfolio companies, including: Ecount, Gain Capital, and Management Dynamics. Prior to Cross Atlantic, he was a Senior Vice President for Safeguard Scientifics (NYSE:SFE) in charge of business development. In this position, he developed and oversaw merger, acquisition, investment and exit opportunities for Safeguard. In addition, he served as a business partner and director for five of Safeguard's partnership companies. Prior to joining Safeguard, he was a managing director of a boutique investment banking firm specializing in mergers and acquisitions, and President and Chief Executive Officer of a $1 billion California savings bank that employed over 250 people. He is active in the local venture capital community and for the 2004 program year chaired the Greater Philadelphia Venture Group, a trade association representing more than 80 venture funds representing approximately $12 billion in assets under management. He is a graduate of Colby College and has an MBA from The Wharton School of the University of Pennsylvania.
Representative Investments
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Continuing Care Rx is an institutional pharmacy company servicing over 10,500 long-term care beds in over 100 nursing facilities and approximately 25 correctional facilities across the Northeastern Region of the United States. CCRx provides medicine distribution, medical supplies, nutritional supplements, and pharmacological consulting services to long-term care and other selected institutional populations. Founded in 1996 by Thomas Trite, CCRx was owned by The Presbyterian Hospital System since 1998. |
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Habit Opco, Inc. based in Boston, MA, is one of the largest accredited healthcare organizations in New England providing multi-disciplinary treatment services on an outpatient basis to individuals addicted to drugs enabling them to function normally in society. Habit provides comprehensive services to individuals addicted to opiates and currently operates 12 sited programs and two mobile van units. |
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RedPath Integrated Pathology, Inc. based in Pittsburgh, PA, is a national specialty laboratory that provides complex cancer diagnostic testing for pathologists, oncologists and clinicians. Its patented molecular-based analysis, PathFinderTG�, integrates with routine pathology review of fixed slides, cytology and fluid specimens to render an early and definitive diagnosis where none would otherwise exist, thus improving patient outcomes and reducing healthcare costs. |
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Sopherion Therapeutics develops novel anti-cancer therapies for patients suffering with advanced cancer, including metastatic disease. The Company has an exclusive licensing agreement with Zeneus Pharma Ltd. for the future commercialization of Myocet (a liposome-encapsulated doxorubicin-citrate complex) in North America. The company also leverages its Minicell Peptide Display screening technologies to identify additional therapies. Sopherion focuses on research and development of new oncology compounds, employing its proprietary drug discovery platform to develop novel specialty biopharmaceuticals, which it markets. |
Glenn T. participated in the FundingPost event: Perfect Venture Conference IV
on November 3 and 4, 2008 in NY, Sponsored by Credit Suisse, Ross & Company, Wolf Block, Shelowitz & Associates, Geller & Company
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