Philip Smith - Mr. Smith founded Citicorp Venture Capital in 1967 and served as its first President and Chief Executive Officer until 1972. He built Citicorp's pioneer venture capital group into a $40 million fund that has earned Citicorp over $7 billion. Mr. Smith's selection of young associates at Citicorp includes some of the current luminaries of the venture capital industry, including: Ed Glassmeyer (co-founder of Oak Investment Partners); Russ Carson and Pat Welsh (co-founders of Welsh, Carson, Anderson & Stowe); Larry Lawrence (founder of Lawrence Venture Associates); Bob Swanson (founder of Genentech); and, Arthur Patterson (co-founder of Accel Partners). Following Citicorp, Mr. Smith joined Irving Trust Company as Executive Vice President and Group Executive of the Worldwide Corporate Group. Subsequently, he became founding partner of Lawrence Venture Associates and Arete Ventures, the management company of Utech Venture. In addition, Mr. Smith was a Managing Director of the Merchant Banking Group of Prudential Securities, Vice Chairman and co-founder of Spencer Trask Securities, and a co-founding member and Vice Chairman of Laird & Co., LLC. He also is a special limited partner and co-founder of Utech Venture Capital Corp. He holds BSE and MBA degrees, and is an adjunct Professor of the Graduate School of Business at Columbia University. Mr. Smith serves on Boards of Directors; responsible for financing matters and investor relations.
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