|Venture Fund Member Profile
Boston Harbor Angels is a group of proven business leaders interested in investing a portion of our assets in high-growth, early-stage companies. Since 2004 we have made investments in companies in medical devices, IT, consumer products, business products, specialty materials, Internet, aviation, etc. We believe we contribute more than money to the companies we fund and welcome the opportunity to work with entrepreneurs who are open to taking advice, yet have the smarts and determination to make their company successful.
Our focus is on early-stage companies, usually looking to raise $250K to $1.5M, where we can fund a portion of the round and syndicate the deal with other angel groups or early-stage venture funds. The company should be close to the commercialization stage and have a clear and defensible competitive advantage. We are looking for capital-efficient businesses that can reach profitability with less than $5M of equity investment and provide at least a tenfold return on the investment within five years.
BHA does not invest as a fund—each of our members makes his or her individual investment decision—but we collaborate in due diligence. We are open to any opportunities that can make a strong business case and can take the position of a lead investor if one of us has strong expertise within our group.
BHA receives 20-30 business summaries each month, out of which we select eight companies to make a personal presentation to our screening committee. The screening committee consists of volunteers from the group. The presentations are 10 minutes long, followed by 30-minute interactive discussion on the business opportunity. We provide our feedback on the strategy, tactics, presentation style, etc. on the spot. Four of the companies are invited to present to the whole group, so as to get members interested. After that, we decide to undertake due diligence concerning the companies before making an investment.
Boston Harbor Angels was founded by Mic Williams (president) in February 2004. Day-to-day operations are managed by Boris Batchvarov (managing director).
Boston Harbor Angels
William D. McPhee (Bill) is the Founder and Managing Director of Praxis Advisors LLC, a partnership of senior executives that helps early stage medtech businesses develop and execute the strategies and tactics needed to reach commercialization and exit. Mr. McPhee has 30 years of experience in strategy and operations consulting, fund raising, transactions and venture capital. He has worked with the senior management teams of a wide range of organizations in the healthcare, consumer products, information services, manufacturing and retail sectors.
Prior to starting Praxis, Mr. McPhee created the Outsourced Business Development practice at Health Advances, a 65-person life science strategy consulting boutique. Before that he founded Mi3 Venture Partners, an early stage life science fund. Mi3 evolved from Mr. McPhee's realization that there was an extraordinary opportunity to exploit the shifts in the strategic/operating paradigm for the imaging-related sector. In 1991 Mr. McPhee founded the international strategy consulting business, Lucas, McPhee & Co., focused on building shareholder value for institutions as diverse as the Indiana University School of Medicine, Warner-Lambert, Health and Hospital Corp. (Indianapolis), Wishard Hospital, Indiana Healthcare (primary care organization), Thomson Consumer Electronics, Hawker-Siddeley (U.K.) and some of the LBO portfolio companies of Clayton, Dubilier & Rice and Kohlberg and Company. Early in his career Mr. McPhee served as a senior manager in several small companies and as a consultant with the international strategy-consulting firm of Bain and Company. Over a 4-year period with PepsiCo, Inc., Mr. McPhee served initially as Legal Counsel for Canadian subsidiaries and later was responsible for the franchised growth of Taco Bell and Pizza Hut in Canada. Mr. McPhee received a LL.B. (law degree) from McGill University (Montreal) where he was a Wainwright Scholar. He also obtained a B.Sc. (Honors - pre-Med) from McGill and received McConnell and University Scholarships. Mr. McPhee is a non-practicing member of the Ontario Bar.
Mr. McPhee is a member of Boston Harbor Angels and Mass Medical Angels, and serves as an Advisor to The Capital Network. He has held Board seats on Imcor Pharmaceuticals, VueSonix Sensors, Quick Study Radiology, FlowMedica and superDimension and has been a speaker and panelist for many organizations, including MassMedic, the Institute of Medicine and the Foley & Lardner Technology Conference. Mr. McPhee has published articles in Imaging and the peer reviewed journal Radiology.
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*Come meet with William in this exclusive Boston, MA speaking engagement:
Boston VC & Angel Event on Thursday, June 6, 2013
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|Venture Fund Member Profile|