Chrysalis Ventures Strengthens Healthcare & Technology Expertise and Expands Geographic Footprint with Executive Hires

Venture Partner, COO and Analyst Added to Investment Team Along with Two Entrepreneurs-In-Residence

Louisville, KY, May 11, 2010Chrysalis Ventures is pleased to announce the addition of five senior professionals to the firm. Alan Ying, M.D. joins Chrysalis as Venture Partner, based in Houston, TX. Jill Force joins the firm as Chief Operating Officer and Derek Fricke as Analyst, both based in the Louisville office. Chrysalis’ entrepreneur-in-residence (EIR) program, established in 1998, has grown in size and geographic reach with the addition of Doug Cobb in Louisville and Greg Foster in Atlanta.

Chrysalis Ventures is a leading source of equity capital for young, growing companies in Mid-America. Chrysalis invests primarily in early-and growth-stage healthcare and technology companies.

“Chrysalis continues to see great opportunities in the healthcare and technology sectors. As a partner to young, promising companies, we invest our capital, time, expertise and networks as active participants in a company’s evolution,” said David A. Jones, Jr., Chairman and Managing Director, Chrysalis Ventures. “In an increasingly dynamic environment, we think it even more important to expand our network of experienced executives who can help ensure our entrepreneurs’ visions will become reality.”

Alan Ying joins Chrysalis as Venture Partner, with a focus on investment opportunities in both the healthcare and technology sectors. Dr. Ying brings over a decade of experience in the medical field to Chrysalis: as a surgery resident at Duke University Medical Center; building a successful healthcare software company as CEO before selling his company to Thomson Reuters (NYSE:TRI); serving as Thomson’s Chief Medical Officer; and most recently, managing private capital invested in healthcare IT companies.

Jill Force joins the firm as Chief Operating Officer. Bringing over 20 years of management and operations experience, Ms. Force will manage the firm’s day-to-day operations, including administration, finance, human resources, IT, legal and marketing. Ms. Force comes to Chrysalis from LifeCare Hospitals, where she was Executive Vice President, General Counsel and Chief Administrative Officer. Previously, she served as CFO of Rehab Designs of America, a venture-owned healthcare company, and served for ten years as General Counsel of Vencor, Inc., which, during Ms. Force’s tenure, grew to be a Fortune 500 company and one of Middle America’s largest healthcare services companies.

Derek Fricke joins Chrysalis as Analyst, having worked most recently as an Associate for BIA Digital Partners, a Washington DC-area private equity and mezzanine investment fund where he participated in investments in media, communications and online services companies. Previously, he was an Analyst for SunTrust Robinson Humphrey in Atlanta.

Doug Cobb returns to Chrysalis as an Entrepreneur-in-Residence following his recent retirement from Chrysalis portfolio company Appriss, Inc. A successful serial entrepreneur, Mr. Cobb started his first company, the Cobb Group, at the dawn of the personal computer age to provide consumer guidance about how to use first-generation consumer software. Following the successful sale of that company to publisher Ziff-Davis, Mr. Cobb teamed up with David Jones to found Chrysalis Ventures in 1993. A dedicated civic leader, he left Chrysalis in 1997 to serve as the founding President and CEO of Greater Louisville Inc., Louisville’s leading economic development organization. In 2000 he joined Chrysalis portfolio company Appriss, Inc. as Chairman and CEO. Appriss provides innovative software-based services that help local, state and federal criminal justice agencies serve and protect their citizens. Mr. Cobb led this Louisville-based company through one of Chrysalis’ most successful exits, when Bain Capital Ventures and JMI Equity recapitalized the business in July 2007, and has fostered further growth since the sale.

Based in Atlanta, Greg Foster joins Chrysalis as an Entrepreneur-in-Residence. In this role, Greg evaluates new business opportunities and assists current portfolio companies in the technology sector. Mr. Foster has a diverse entrepreneurial and executive background in media and technology. Most recently, he served as a Partner at Noro-Moseley Partners, with a concentration on early-stage digital media companies. Mr. Foster was founder and CEO of Southern Direct. After Southern Direct was acquired by Turner Broadcasting he served as Vice-President of Corporate Development, overseeing M&A and investment opportunities for all of Turner’s brands including CNN, TNT, TBS, TCM, Cartoon Network, TruTV and Adult Swim.

“Since 1998, the Chrysalis Entrepreneur-in-Residence program has provided the firm and our portfolio companies with a wealth of management, industry and operating expertise. We are excited to expand this program with the addition of Janesse, Doug and Greg,” said Koleman Karleski, Managing Director, Chrysalis Ventures. “Each of these individuals has built successful careers and we’re excited to increase the firm’s ‘bench strength’ with such highly regarded professionals.”

Last month, Chrysalis announced the addition of Janesse Thaw Bruce as an Entrepreneur-in-Residence based in Boston; and Wendy Jarchow as the firm’s new Director of Business Development – Upper Midwest, based in Cleveland.

 

About Chrysalis Ventures

Chrysalis Ventures manages one of Mid-America’s largest funds for early-stage and growth investments with approximately $400 million under management. Since 1993, the firm has invested in over 65 companies, primarily in the healthcare and technology sectors. With headquarters in Louisville, Kentucky, Chrysalis has offices in Cleveland, Pittsburgh, Ann Arbor and Houston. The firm seeks to partner with entrepreneurs to build enduring businesses in industries undergoing significant transformation. For more information, please visit www.chrysalisventures.com.