EGL VENTURES - Key Persons
Job Titles:
- Member of the Advisory Committee
- CEO of O'Donnell - Davis Investments.
Job Titles:
- Member of the Advisory Committee
- VP, Systems Solutions for Hewlett Packard
Dr. David Ellis has over 27 years of investment experience, as well as substantial operations experience at the CxO level in European and U.S. growth companies. He received his BS in Chemistry and his PhD in Biophysics from St. Andrews University in Scotland. As a managing director at 3i, he had oversight of over 200 private equity investments. He founded EGL in 1988.
Dr. Ellis was born in the United Kingdom, where he received a British Petroleum scholarship to the University of St. Andrews. He earned an Honours degree in Chemistry in 1964, followed by a Ph.D. in Biophysics in 1967. After university, he joined 3i Group PLC, one of the largest private equity managers in the world. From his original position as Management Trainee, David progressed through the Technology Investment arm (Technical Development Capital Limited) and Regional Management network. After attending the Senior Executive Program at the Sloan School of MIT, David was selected to found and lead the team responsible for 3i's technology investments and turnaround investments, where he had oversight of over 100 private equity investments.
From 1975 to 1981, David held operational roles in the U.K. and the U.S. for various 3i portfolio companies:
COO and CEO of B.H. Blackwell Ltd., the world's largest distributor of library materials. Acquired its largest competitor, Richard Abel & Company (Portland, Oregon).
CFO of Software Sciences International Ltd., a computer systems group specializing in defense systems, air traffic control and newspaper automation. Orchestrated the sale to BOC Group plc.
CEO of Software Sciences Inc. In the U.S. book industry, David introduced specialized point-of-sale systems, back-office inventory control systems, and MIS systems, most notably in association with the Ingram Book Company.
In 1982, David acquired Corporate Finance Associates of Georgia ("CFA"), a middle-market investment banking group focused on European companies expanding into the U.S. One of his major successes was the introduction of super-conducting magnet technology into the U.S. for what became the MRI industry; as part of this work, he served on the board of Oxford Instruments Group plc. David was also an advisor and early angel investor in Technical Analysis Corporation (developer of the IRMA board) that became the heart of Digital Communication Associates (DCA).
In 1988, David and Sal launched EGL's venture capital and private equity business. Based on David's relationships in British finance circles, they raised capital for EGL's U.S. venture investments, initially from Mercury Asset Management plc, followed later by the private equity division of The National Westminster Bank. EGL invested in a wide range of sectors, including information technology, healthcare, instrumentation, manufacturing, and distribution businesses, and at all stages of development.
David has been very active in the Atlanta technology community since his arrival in 1979. He co-founded the MIT Enterprise Forum of Atlanta and, in 1998, received the Georgia Technology Forum award for "Outstanding Contribution to the Technology Industry." He currently serves on the advisory board of the College of Sciences at Georgia Tech, as well as the advisory boards of the Shepherd Center, Neural Signals Inc., and two Rehabilitation Engineering Research Centers. David's memberships include the Technology Association of Georgia, the Technology Executive Roundtable, the British-American Business Group, and the Atlanta Venture Forum.
Job Titles:
- Chairman of the Advisory Committee
- Chairman, Technology Committee of the Georgia Dept for Economic Development.
Job Titles:
- Member of the Advisory Committee
- Founder and Managing Partner, HgCapital
Job Titles:
- Member of the Advisory Committee
Job Titles:
- Member of the Advisory Committee
- CEO of MFI Furniture Group Plc.
Job Titles:
- Chairman of the Advisory Committee
- Founder, Chairman, and CEO of Patient Care Technologies
Job Titles:
- Member of the Advisory Committee
- Founder and Managing Partner, Weston Presidio Capital
Sal Massaro has over twenty years of investment experience, 15 of them at EGL. He received a BS in Business Administration, magna cum laude, from Georgetown University, and a Harvard MBA. His career included roles at Prudential-Bache, Price Waterhouse, and a CFO assignment at a public telecommunications company. He is a former president of SORASBIC and a former member of the Board of Governors of NASBIC.
In 1982, he took an operational role as CFO of Telesphere International, a supplier of long-distance and operator-assisted telephone service and telecommunications equipment to the hotel industry. He was responsible for all finance, accounting, tax, and investor affairs of the company, completing a mezzanine round of venture capital and managing the company's initial public offering through D.H. Blair & Co. At the time, he was the youngest CFO of a publicly-traded company in the United States. Before leaving Telesphere, Mr. Massaro financed the company's entry into the long-distance business by raising secured debt capital through Chemical Bank and through a secondary public offering managed by Smith Barney & Co.
In 1985, Mr. Massaro moved to Atlanta to join Prudential-Bache Venture Capital, Inc. ("PBVC") as Vice President, Business Development. PBVC was the venture capital arm of Prudential-Bache Securities, organized as a public limited partnership. PBVC was an early attempt to provide venture capital returns to the individual retail investor. Sal joined David at CFA in 1986. In 1988, he and David launched EGL's private equity business.
He has served as a board member of the Atlanta Venture Forum since 1990, where he is heavily involved in the State of Georgia's public policy debate concerning economic development, venture capital and high technology. Mr. Massaro was president of SORASBIC (Southern Regional Association of SBICs) from 1998 to 1999, and is a former member of the Board of Governors of NASBIC (the National Association of SBICs). His professional memberships include the Association for Corporate Growth, the Business & Technology Alliance, IEEE, Institute of Management Accountants, MIT Enterprise Forum, NASBIC, SORASBIC, the National Venture Capital Association (NVCA), Southeastern Software Association, and the Technology Association of Georgia.
Sal Massaro has been a partner at EGL since he and David Ellis founded the EGL venture capital and private equity business in 1988. Mr. Massaro has had responsibility for growth capital investments in a broad range of industries including information technology, telecommunications, instrumentation, and healthcare. As a board member of several EGL portfolio companies, Mr. Massaro has provided advice on strategic, financial and operational challenges to companies at all stages of development.
Job Titles:
- Member of the Advisory Committee
- Chief Commercialization Officer, Georgia Institute of Technology
Job Titles:
- Member of the Advisory Committee
- CEO of Metabolic Testing Services.