30 Years of Promoting Local Capital Formation and Business Growth; Expansion Continues with New Affiliations and Programs after Three Decades
Education Initiatives Strengthened -- LICA Endorses Proposed Legislation for New York Education Investment Tax Credit
Technology Company Capital Forum Scheduled for March 7; Upcoming Capital Forums to Cover Biotech, Consumer Products
Melville, NY – February 25, 2014– The Long Island Capital Alliance (“LICA”), the leading non-profit capital formation and business development organization serving regional companies, is celebrating its 30th anniversary in 2014. Recognized as the nation’s oldest venture capital group, in 2012 LICA undertook a transformation to extend into the investment community beyond traditional venture capitalists, which had been its primary investor constituency since its formation in 1984. Today, LICA’s reach includes private equity firms, financial advisors and high net worth individuals, as well as venture capitalists, reflecting the organizations mission to facilitate growth capital investments of over $1,000,000 in local companies. LICA’s presence and contributions to the local business landscape are more significant than ever.
“As we celebrate our 30th year as the most recognized voice for regional business funding and capital infusion, we acknowledge with gratitude the efforts of our volunteer Board of Directors and our growing number of members, partners and sponsors,” said Neil Kaufman, Chairman of LICA. “Our success and staying power honors the legacy of our founders, including the late Herman Fialkov, who established our course with a singularly focused, independent mission for funding local companies and promoting local economic development. Through our capital forums, networking events and educational endeavors, LICA has since its inception successfully aided dozens of local companies. Our results are unparalleled, as we have facilitated the funding of over $200 million of growth capital and the creation of many local jobs.”
Recent of Many LICA Success Story
In 2012, LICA held a Cyber Security Capital Forum in partnership with the Long Island Forum for Technology (“LIFT”), a LICA Sponsor, and Long Island Software & Technology Network (“LISTnet”), to showcase some of the region’s finest cyber security companies in need of private investment and other business development assistance. Among the expert panelists LICA hosted for this event were Russell M. Artzt, co-founder and former Chairman of CA Inc. (NASDAQ: CA) and an inductee of Long Island Technology Hall of Fame; Robert Brill, Founding Managing Partner of Newlight Management; James McIlree, a Wall Street equity research analyst specializing in cyber/defense technologies for nearly 20 years; and William Reinisch, a Partner at Palladin Capital Group, a leading venture capital firm. Among the presenting companies was A+ Technology and Security Solutions Inc., a surveillance systems company based in Bay Shore, NY.
A+ was started by David Antar in 1989 with a mission to take world-class customer service into the educational marketplace. Since that time, A+ has grown into a national and international provider of technology solutions to customers ranging from Fortune 500 companies nationwide to major city school districts locally and abroad, hospitals, government organizations and private corporations. To aid in this expansion, Mr. Antar presented at LICA’s Cyber Security Capital Forum.
As a result of the LICA event, an attendee introduced Mr. Antar to Westbury Partners, a Hauppauge-based private equity fund which has approximately $200 million under management. Westbury Partners invested $12 million in A+ in March 2013. Armed with this new capital infusion, A+ continues to hire staff and grow as a leader in IT, audio/visual, security and instructional technology.
LICA Capital Forums and Partnership Strategy
Throughout its 30 years of existence, LICA has evolved to meet the needs of a changing region while capitalizing on marketplace trends. LICA now presents quarterly capital forums that focus on significant local industries, while creating alliances with local professional organizations and utilizing social media to increase awareness and participation. The common denominator in LICA’s efforts remains sustainable job and wealth creation through private sector investments in growth businesses.
In recent years, LICA has pursued an aggressive strategy of forming alliances with major Long Island business organizations. This strategy leverages LICA’s legacy of facilitating financing activity on Long Island and the benefits from its position as a leading repository of information related to various forms of business financing. These alliances are intended to assist LICA in institutionalizing a united and organized effort to stimulate economic development and the creation of meaningful companies and jobs on Long Island. As a result, LICA’s highly regarded Capital Forums has seen record levels of attendees and presenting companies across a broad spectrum of industries.
In coordinating the Capital Forum series, LICA has partnered with local organizations including the Long Island Forum for Technology (“LIFT”), Cold Spring Harbor Laboratory, Brookhaven National Laboratory, Long Island Software & Technology Network (“LISTnet”), Accelerate Long Island and Social Media Association, Inc.
Upcoming Events
LICA’s next event is its Technology Company Capital Forum on Friday, March 7, 2014 from 8:00 a.m. to 11:00 a.m. at 68 South Service Road, Melville, NY. The capital forum provides an opportunity to meet capital providers, entrepreneurs, industry executives and businesses seeking capital, as well as to hear a panel of industry experts discuss financing alternatives for technology companies. Each of the companies LICA selected for presentation at the capital forum possesses unique technologies and catalysts for significant growth which will be attractive to investors. These investment opportunities include companies that offer cloud-based software-as-as-service solutions, internet applications, digital media services, online advertising, manufacturing technologies, and mobile device and healthcare IT platforms.
After that, LICA’s next capital forum will feature Biotech companies. LICA will present this event in collaboration with Cold Spring Harbor Laboratory and the Feinstein Institute at North Shore-Long Island Jewish Medical System, both locally-based world-class institutions.
On July 29, LICA will host a capital forum for Consumer Products.
On November 7, LICA will feature healthcare companies at its final capital forum of 2014.
Educational Programs
In addition to providing access to capital and funding sources, LICA has in recent years expanded its initiatives to create an ecosystem of education, stewardship and consultation as part of its efforts to assist in the development of local emerging growth companies. To this end, LICA has strengthened its Board of Directors through the appointment of seasoned business executives, professional services providers and successful entrepreneurs.
LICA provides its presenting company management teams with presentation coaching for investment purposes, editorial review of collateral material, and recommendations for presenting company business plans and slideshows.
Among recent appointments to its Board of Directors to support its educational initiatives, LICA added
- Michael Lane, a highly accomplished technology executive with private and public company experience,
- Michael Violano, CPA, for accounting and business consultation, and
- George Likourezos, an intellectual property attorney and expert in IP protection.
Further to its education efforts, LICA announced today that it is pleased to endorse the proposed legislation for a New York Education Investment Tax Credit. According to the “Invest in Education” campaign website (www.investined.org) which is supporting a New York Education Investment Tax Credit, the passing of this bill is intended to boost investment in New York’s public and nonpublic schools through an education investment tax credit so that every school and teacher has the resources necessary to provide the best educational opportunities for the students, families and citizens of New York State. The Investment Tax Credit legislation (Senate bill S.4099-A) passed the State Senate last year. Moving to the State Assembly, the bill (A.1826-B) has more than 100 sponsors in the 150-seat chamber. The bill is also supported by numerous labor, police and firefighter unions, an AFL-CIO affiliate, and other organizations. LICA’s Board of Directors views education as integral to future business innovation and workforce opportunities.
LICA Board of Directors
LICA and its initiatives are coordinated and managed entirely through the dedication of its exclusively volunteer Board of Directors. Board members include accomplished business executives, veteran members of the investment community, professional services providers and highly respected advisors in related professional service organizations. LICA’s Board of Directors include:
Neil Kaufman, Chairman
Partner and chairman of the corporate department at Abrams, Fensterman, Fensterman, Eisman, Formato, Ferrara & Wolf, LLP, one of Long Island’s largest full-service law firms.
Corey Massella, President
Partner at Citrin Cooperman, CEO of the firm’s SEC Solutions Group, Co-chair of the firm’s Technology Industry Practice and Transaction Advisory Service Group.
James Mattutat, Treasurer
Veteran finance department and investment management executive.
Irvin Brum, General Counsel
Senior partner at Ruskin Moscou Faltischek, where he is chairman of the firm’s Corporate & Securities Department.
Jeffrey L. Bass, Chairman Emeritus
CEO of Executive Strategies Group LLC, a strategic business advisory firm serving corporate executive management and boards of directors.
Jerry Allocca
President of CORE Interactive for over a decade, Mr. Allocca leads an award-winning team of Internet specialists and is a recognized Internet search engine marketing authority.
Argante Cappelli
Retired from Deloitte & Touche LLP with over 32 years of experience in all aspects of public accounting and business consulting.
Jordan M. Darrow
Founder and President of Darrow Associates, Long Island’s leading investor relations (IR) agency.
Sal Gervasi
Heads the New York City region for Insperity, a leading professional employee organization, and is an accomplished business leader who has helped small businesses succeed for over 25 years.
Ken Greene
Founder of Jericho Capital, which invests in public and private healthcare, Internet and B2B software companies, Mr. Greene also is a mentor at Launch Pad Long Island, a business accelerator, and LI Tech Comets, a start-up and tech incubator.
Michael Lane
With significant executive management and entrepreneurial experience, Mr. Lane’s career spans nearly 30 years in financial services.
George Likourezos
Partner at Carter, DeLuca, Farrell & Schmidt, LLP, one of the largest and most respected Intellectual Property law firms in the New York metropolitan area, and one that is nationally recognized for excellence.
Michael Violano
Member of the Audit practice at Grassi & Co., Mr. Violano focuses on accounting audits and reviews of both public and private companies ranging from start-ups to Fortune 500 Companies in the domestic and international markets.
LICA Sponsors
LICA acknowledges the following sponsors for supporting the organization with financial and in-kind contributions:
Platinum Level
Abrams, Fensterman, Fensterman, Eisman, Formato, Ferrara & Wolf, LLP
Carter, DeLuca, Farrell & Schmidt, LLP
Insperity
Long Island Forum for Technology (LIFT)
Gold Level
Citrin Cooperman
Deloitte LLP
Executive Strategies Group
MarketWired
Ruskin Moscou Faltischek, P.C.
Grassi & Co.
Suffolk County IDA
The Corridor
About the Long Island Capital Alliance:
Since 1984, the Long Island Capital Alliance (www.licapital.org), formerly known as Long Island Venture Group, has been promoting business growth on Long Island. LICA seeks to create a productive and business-friendly environment that will afford area businesses access to the resources necessary to compete successfully in today's markets. LICA serves as a focal point for the exchange of ideas among new and existing business enterprises, successful entrepreneurs, investors, and service providers. Through quarterly capital forums and special meetings, LICA brings together members of the region's business community, and has been recognized as the place to turn to when small businesses need equity, debt, or other financing, or for investors to find an attractive investment opportunity.
LICA’s mission is to encourage economic development on Long Island by facilitating capital formation for a broad range of companies in various industries, from early stage to mature middle market closely held and publicly-traded businesses. LICA accomplishes this primarily through education, networking, quarterly capital forums, periodic special educational meetings, and alliances with other regional organizations. LICA brings together members of the region's business community and serves as the finance arm for significant local business and organizations.
For more information on LICA and its next event, please contact LICA today or register online at http://www.licapital.org.
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Contact:
Jordan Darrow
Darrow Associates, Inc.
(631) 367-1866
jdarrow@darrowir.com
