The Upstate Venture Association of New York, Inc. (UVANY) recently announced that Jennifer Tegan, partner at Cayuga Venture Fund in Ithaca, will become vice president of its board of directors.
UVANY says it is a not-for-profit organization with the goal of increasing capital investment in private companies throughout upstate New York.
The association also announced that Dan Magnuszewski, managing director at the Z80 Labs technology incubator in Buffalo, has joined the UVANY board of directors.
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Tegan has been with Cayuga Venture Fund (CVF) since February 2002 and currently oversees its investments in GiveGab and Intrinsiq Materials. Tegan also represents CVF as an observer on the boards of BinOptics and Calient, and manages the financial and administrative operations of CVF, according to UVANY.
Magnuszewski is an entrepreneur from Buffalo and holds a bachelor’s degree in computer science from the University at Buffalo. He has worked as a software engineer at Synacor, as a technical cofounder for multiple startups, and as a co-founder of CoworkBuffalo before joining Z80 Labs, UVANY said. Magnuszewski’s current focus is on consolidating and growing the tech-startup community in WNY. He serves on the UB Computer Science Advisory Council, the WNY Computer Science Teachers Association, co-organizer of Buffalo Startup Weekend, and as a mentor for the Syracuse Student Sandbox, according to UVANY.
Brian Model, managing partner at Stonehenge Growth Equity Partners in New York City, was re-elected to a second term as UVANY’s board president.
Dan Penberthy, executive vice president of Rand Capital in Buffalo and a former president of UVANY, will step down as vice president of UVANY, but will remain on the UVANY board of directors, the organization announced.
UVANY says it’s the only organization serving the entrepreneurial, corporate, and investment communities across all of the regional markets of New York state. UVANY member funds (angel, venture, private equity, mezzanine debt) manage more than $1 billion in capital. From 2005-2012, these funds invested more than $430 million in over 125 New York state companies, according to UVANY.
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