|Venture Fund Member Profile
Novak Biddle Venture Partners was established in 1997 to provide equity financing and assistance to the management of young, information technology companies. NBVP is backed by a number of the country’s most prestigious limited partners, and has over $580 million under management. We seek investment opportunities where the combination of ideas, dollars, experience, and relationships can create long-term, sustainable value. While we believe that the vast majority of business plans we receive have many of the makings of viable companies, we are looking for additional key features in the businesses in which we invest.
Novak Biddle Venture Partners
Prashanth, or "PV", brings over 20 years of operational and executive management experience to Novak Biddle Venture Partners. PV is currently on the boards of Approva, Appfluent, Appian and Centrifuge Systems through investments as a partner at Novak Biddle Venture Partners. He was most recently an investor and co-founder of ClearStandards that was sold to SAP AG in May 2009.
PV was the founder and CEO (2001-2008) of Approva Corporation and helped to make it the gold-standard for how large global companies and their external auditors ensure the strength of their company's internal controls. Approva is backed by marquee venture capital firms including Novak Biddle, New Enterprise Associates (NEA), Columbia Capital, and Sierra Ventures with strategic investment from Hyperion/Oracle.
Before founding Approva, PV was co-founder and president (1996-2000) of Entevo, Corp., which was sold to Bindview (now part of Symantec) for $125 million in January 2000. Entevo raised over $25M dollars in venture capital was backed by marquee investors including NEA, Oak Investment Partners, Draper International, FBR Ventures, SAP Ventures and Novak Biddle Venture Partners. Prior to founding Entevo, PV spent several years managing enterprise-class products at Microsoft's Systems Division, and later as a Director in its worldwide consulting services group (MCS).
PV was selected as a finalist for the Ernst & Young Entrepreneur of the Year for three consecutive years (2006, 2007, and 2008) for the Greater Washington region. He has also been recognized for building one of the Hottest Management Teams in the Washington DC area by the Northern Virginia Technology Council (NVTC), the nation's largest technology think tank. PV is as an active board member of TiE-DC, Washington's largest business networking organization, which provides area entrepreneurs with mentorship and support. PV is also the Chairperson of Pratham-DC, India's largest non-governmental educational non-profit group. PV is an investor and advisor in Communikids — Washington DC Metro area's one and only premier bilingual pre-school for children.
PV holds advanced degrees in Computer Science from the University of Pune (India) and the University of Cincinnati, and is a graduate of the Executive Management Program at MIT's Sloan School. PV is also a Fellow at University of Maryland Smith Business School.
||Appfluent Technology is the leading provider of enterprise BI and data warehouse management software.|
||Centrifuge Systems A leading provider of next generation business intelligence software, that helps organizations discover insights, patterns and relationships hidden in their data.|
||Appian Corporation is the BPM pure-play expert. Appian leads the market in BPM innovation, delivering comprehensive, flexible and easy-to-use solutions customized to the unique needs of individual organizations.|
||Educational Initiatives develops and offers assessment products and services for schools in India that clearly pinpoints what students are learning, gives insight into the learning process, and provides concrete ways to improve learning and teaching efficiencies.|
Prashanth participated in the FundingPost event: DC Early-stage Venture Capital Conference
on Wednesday, October 21, 2009 in DC, Sponsored by Bingham McCutchen LLP
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|Venture Fund Member Profile|