We utilize our proprietary DownSelect process to identify which technologies meet our accelerated adoption and market penetration targets, and then seed and establish these transformational Platform Companies. We further capitalize initial scaling and commercialization through an established Fund, providing Innventure’s institutional and private clients unfettered access to the end product of all of our work and experience in launching these unique, high value private companies through a systematic approach that greatly reduces the risks inherent in venture investing. Our proven approach systematically matches and aligns innovative technologies with substantial market opportunities, and then quickly commercializes to create highly successful, high value businesses.
Our first portfolio company, PureCycle Technologies closed investments totaling over $700MM and is now public on Nasdaq (symbol: PCT) as of 3/18/2021. This milestone, less than 6 years after Company launch, is an important proof point that the Innventure model is indeed a transformative approach that turns great disruptive technologies into high value enterprises that are wired to change the world.
Dear Investors:
Welcome to Innventure and thank you in advance for your time. Innventure is recognized as the first global, open-architecture venture firm dedicated to sustainability. Through our deep partnerships with MNCs, Innventure is given the opportunity to identify, vet, scale and commercialize their unique IP whose end product is intended — through the combination of revolutionary new technology, business model, and market execution — to systematically build transformative businesses with a higher likelihood of success and significantly reduced risk profiles. Our current Platform Companies (PureCycle Technologies & AeroFlexx) protect the environment by providing better, more efficient solutions to recycle plastic and activate circular economy solutions, as well as packaging and optimizing packaging and distribution, and we anticipate launching additional companies across the sustainability spectrum. As acting fiduciaries for our clients, our commitment remains unwavering: to protect capital and provide long-term return to investors who, along with our own capital, recognize the impact of new breakthrough technology and accelerated commercialization and the new opportunities that come from harnessing both.
Partnering with industry experts, Innventure has built a scalable infrastructure to grow and commercialize businesses for which there is no natural peer: a competitive edge in our sourcing network and the utilization of our proven resources to provide revenue-generating, scalable businesses. Please enjoy learning about Innventure and the extraordinary, positive impact derived from our capital partners.
We hope, as you explore the many decades prior to the launch of Innventure, that we might welcome you (in person or virtually) into our offices to meet our team and see the incredible good that comes from a commitment to making the planet a better place to live and a fiduciary commitment all the while for protecting and deepening our investors’ wealth. In summary, “any investment worth making requires long-term confidence and short-term courage” and so, we thank you for your interest and look forward to continuing our conversation.
With my appreciation,
Bill Haskell, CEO
Our unique, proprietary approach is designed specifically to lower the many inherent risks to more conventional start-ups.
Assets were eventually liquidated by investors. XLTG management team retained the rights to DownSelect
John Scott maintained a role with PetroAlgae & other early stage tech companies & Rick Brenner founded SPRIM US Consulting; Mike Otworth founded Green Ocean Innovation
John with PetroAlgae & other early stage tech companies; Rick with SPRIM US Consulting; Mike with Green Ocean Innovation
Platform Company
Platform Company
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Bill serves as the Chief Executive Officer for Innventure. Previously, he was a cofounder and President of XL TechGroup that created the foundational business building methodology upon which Innventure is based. Bill has worked with the key principals of Innventure for over 20 years. He has also served as a public company CEO and has been a director of over a dozen private and public companies. Most recently, Bill has been a partner at a boutique investment bank focused on converting private companies into employee-owned enterprises and has been a principal in a blockchain technology company. He has over 30 years of experience in company creation and development.
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Mike serves as Chief Executive Officer and Chairman Board of Managers of Innventure which he co-founded in 2015 to work in partnership with top MNCs to evaluate, scale, and commercialize disruptive technologies with significant transformative market potential. Prior to co-founding Innventure, Mike served as President and Founding Partner of Green Ocean Innovation and held the position of Vice-President and Founding CEO for multiple start-ups while at XL TechGroup (XLTG).
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Rick is an Innventure co-founder and serves as the COO and board member. Rick was also the Founding CEO of AeroFlexx during 2018-2019. He brings over 35 years of experience in building successful start-ups, new products and innovation across a broad range of industries. Prior to co-founding Innventure, Rick founded SPRIM Strategy and Intelligent Innovation and was the Founding CEO of TyraTech, which he led to a successful IPO in 2007. Rick’s consumer products experience includes Marketing Director roles on Noxzema and Secret & Sure Deodorants at P&G. He earned his MBA from Northwestern University in Marketing and Finance and his B.S. in Business Administration from the University of Maryland.
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Roland serves as the Chief Financial Officer for Innventure. He also serves as Chairman of WaveFront Global Asset Management Corp., a $1.7 Billion AUM Toronto based global hedge fund company he co-founded in 2003. Roland is also a co-founder of Envest Corp., a downstream energy company, and an Advisory Board member of both the Master of Quantitative Finance program at the University of Waterloo and First Tracks Capital, a Canadian private equity firm. Prior to that Roland was an Investment Advisor with BMO Nesbitt Burns Inc., and began his career as a Commodities Broker with ScotiaMcLeod Inc. where he was primarily involved with hedging commodity price risk for corporate clients. Roland holds a B.A. with Honours from the University of Western Ontario.
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John serves as Chief Science Officer at Innventure. Prior to co-founding Innventure, John served as Founder and CEO of XL TechGroup (XLTG) where he developed the DownSelect Method that Innventure uses today to vet disruptive technologies from top MNCs and their associated business opportunities. John also served as an academic scientist at numerous universities and government labs including the Universities of Maryland, North Carolina and Arizona, as well as the NASA Goddard Space Flight Center. He earned his Ph.D. in Physics and Astrophysics from the University of Arizona and has published over 60 academic papers.
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Lucas serves as Chief Investment Officer of Innventure and brings over 20 years of experience in managing investment teams, building companies / business units and the seeding and build-out of multiple investment platforms and investment products for both large institutional investment and start-up organizations. Prior to joining Innventure, Lucas held a Principal role at Santa Monica Capital Group as well as serving as President & CEO of Ocean Avenue Investment Partners. He earned his B.A. in Economics from the University of California at Santa Barbara, is a Chartered Alternative Investment Analyst (CAIA) and currently holds a Series 7 and Series 63 license.
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Gayle serves as Director of Business Development at Innventure a role to which she brings over 23 years of financial and business development experience. Prior to joining Innventure, Gayle held top positions within Proctor & Gamble’s Global Business Development (GBD) division where she achieved CFO Circle for Global Business Development – a distinction earned by only the 5% of P&G Finance top-rated performers globally. She earned her B.A. in Business Administration from the University of Kansas in Lawrence.
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Teresa serves as Vice President of NewCo Formation at Innventure where she works in partnership with Fortune 100 companies to evaluate, scale and commercialize disruptive technologies with transformative market potential. Prior to joining Innventure, Teresa was an Executive Management Consultant at various advanced technology companies and served as Executive Vice President for XL TechGroup’s portfolio companies where she co-founded and launched several XL TechGroup ventures. She earned her B.S. in Business Administration and Marketing from the University of Central Florida and completed a Business Strategy and Product Development curriculum with Kellogg School of Management at Northeastern University.
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Andrew serves as a Serial CEO for Innventure and the Chief Executive Officer of AeroFlexx, an Innventure portfolio company. He has 20 years of diverse corporate development and management experience in high-tech companies including roles as Board Member, CEO, CCO, President and SVP of Business Development. Prior to joining Innventure, Andrew served as Chief Executive Officer of Cobalt technologies and Chief Operating Officer of Synata Bio. He earned his MBA and M.S. in Chemical Engineering from the University of Toledo, and holds a dual-major B.S. in Environmental Management and Mathematics from the University of Findlay.
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Colin leads Innventure’s DownSelect process – our proprietary, systematic methodology to evaluate opportunities to commercialize transformative, but proven, technology solutions that meet significant market needs; select the most viable opportunities; and use the analysis to construct a roadmap to launch and develop Innventure Platform Companies that execute those plans with a high probability of success. Previously, he held executive positions in private equity growth and startup ventures. Colin spent the first 10 years of his career with XL TechGroup (XLTG), where he managed the DownSelect process before becoming a member of serial management teams for various XLTG NewCos in renewable fuels and medical diagnostics. Colin earned an MBA in Strategy and Entrepreneurship from UNC Kenan-Flagler Business School, and he graduated with a major in Electrical Engineering and minor in Physics from Duke University.
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Nicole serves as the Senior Program Manager for DownSelect at Innventure where she utilizes the systematic methodology of the DownSelect process to help evaluate, select, develop and launch transformative technology solutions. Prior to joining Innventure, she worked at SPRIM, a globally integrated life science consulting firm as an Engagement Manager and Project Manager. She earned her B.S. in Biology from the University of Central Florida.
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Heather serves as Director of Human Resources for Innventure, a role to which she brings over 20 years of experience. Prior to joining Innventure, Heather served as Senior Director, Human Resources at XPO Logistics and Human Resource Administrator at Drywall Service of Gary, Inc. after transitioning from a career in social services where she held the role of Executive Director for a supervised visitation agency. She holds an MBA from Valparaiso University with a concentration in Business Intelligence and a B.A. in Psychology from Purdue University.
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Anthony serves as Business Analyst in Capital Markets at Innventure where he streamlines efficiency and utilizes the investor relations methodology to help observe, evaluate, and develop new venture opportunities through an array of partner technology solutions. Prior to joining Innventure, Anthony held the position of Chief Operating Officer and Lead Analyst at Lucero Law Firm. He earned his B.S. in Economics from the University of Central Florida-College of Business Administration.
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David serves as Chief Commercial Officer at PureCycle Technologies, an Innventure portfolio company, where he focuses on building the strategy, planning and overall commercial development of PCT, including leading the global expansion team and working closely with finance and capital markets leadership to drive capitalization and value growth. Prior to joining PureCycle, David held the position of Senior Manager at Deloitte. David earned his MBA from Texas A&M and holds a B.A. in Business Administration, Operations Management from The University of Texas.
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John serves as Managing Director, Capital Markets at Innventure and brings 25 years of experience in Alternative Investments which he uses to oversee capital markets strategy and development, legal and tax matters, operations, product structuring and transaction management. Prior to joining Innventure, John held the position of Managing Director / Chief Operating Officer for State Street and Chief Operating Officer for Credit Suisse Alternative Fund Solutions among other operations roles. He earned a J.D. from the Hofstra School of Law, an M.B.A from the DePaul University Kellstadt Graduate School of Business and a B.A. in Economics from University of Notre Dame.
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Neal serves as the Controller for Innventure and brings over 24 years of experience in accounting and finance in both public and private accounting. Neal brings a vast knowledge and expertise in process and efficiency improvements, staff leadership and development, mentoring, project completion, monthly close and analysis reporting and new guidance implementation. Prior to joining Innventure, Neal held the position of Assistant Controller at Signature Aviation, Manager, Accounting for Verizon’s Accounting Center of Excellence, and Director at Cherry Bekaert, LLP. Neal is a licensed CPA in the State of Florida and earned his MBA and B.S. in Accounting from the University of Central Florida.
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Mike is a member of the Investment Committee and serves as the Chair of the Board for Innventure which he co-founded in 2015 to work in partnership with top MNCs to evaluate, scale, and commercialize disruptive technologies with significant transformative market potential. Mike is also the CEO of PureCycle Technologies, the first company started by Innventure in 2015. Prior to co-founding Innventure, Mike served as President and Founding Partner of Green Ocean Innovation and held the position of Vice-President and Founding CEO for multiple start-ups while at XL TechGroup (XLTG). Mike was a key senior management leader of XLTG, which founded, capitalized and advanced companies successfully to late-stage funding. Six of the late-stage funding events included IPOs in New York and London creating $4.5 Billion of market value Mike began his career on Capitol Hill working as a legislative aide and committee staff member in the U.S. House of Representatives.
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Rick serves as Chief Operating Officer and Co-Founder of Innventure and Founding CEO of AeroFlexx. He brings over 35 years of experience in building successful start-ups, new products and innovation across a broad range of categories. Prior to co-founding Innventure, Rick founded SPRIM Strategy and Intelligent Innovation and was the Founding CEO of TyraTech, which he led to a successful IPO in 2007. He earned his MBA from Northwestern University and his B.S. in Business Administration from the University of Maryland.
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Greg currently serves as President and Founder of his own family office, Wasson Enterprise. Wasson Enterprise’s focus is to partner with entrepreneurs and operators to build sustainable, high-growth businesses that do well by doing good. As the former CEO of Walgreens, Greg has extensive global operational and management experience, as well as extensive knowledge of the retail and healthcare industries. Greg attended Purdue University’s School of Pharmacy, receiving his pharmacy degree in 1981.
As Walgreens CEO, Greg led this Fortune 35 company to record fiscal 2014 sales of $76.4 billion. He is credited with creating significant financial and shareholder value, initiating and completing game-changing mergers and investments, leading complex organizational and structural change, assembling a diverse and high-performance senior leadership team, and establishing Walgreens’ position as an industry leader.
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Mike has over 30 years of experience in working with public companies in the small cap space. Mike was a partner and formerly the co-Manager of the William Blair Small Institutional portfolio and the William Blair Small Cap Growth Fund which he and his partners, Karl Brewer and Mark Fuller started in 1999. Prior to joining William Blair, he was the co-founder of Cityview Associates, Inc., a real estate firm specializing in “value-added” real estate transactions.
Prior to starting Cityview Associates, Mike had various roles at First Chicago and Bankers Trust. In addition to his work with William Blair, Mike has helped dozens of small companies grow as an angel investor, mentor and board member. He is currently the Chairman of the Board of Performance Health Systems, LLC and is an advisor on the board of the Innventure Fund, an Intellectual Property-based development fund started by Greg Wasson.
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Jim is the Vice President and CFO for Glockner Enterprises, whose family office investment thesis is around green technology manufacturing and was the original funding partner for Innventure, PureCycle Technologies and AeroFlexx. Glockner Enterprises includes consumer and commercial finance divisions, wholesale lubricant and fuel divisions, several dealer-controlled used car finance operations, captive and independent insurance agencies and franchise automobile dealerships in Ohio and Kentucky. Jim is also highly involved in organizations and companies that are helping grow southeast Ohio communities and sits on numerous boards. Jim was the CFO for PureCycle Technologies from January 2017 to December 2020.
In his role as CFO at Glockners, he manages the Information Technology, Human Resource, accounting and legal departments, giving him the ideal view of the inner workings of the enterprise – such as treasury and other asset management, lender and regulatory relations and employee benefit administration. Prior to joining Glockner Enterprises in 1996, Jim was a CPA at Hayflich & Steinberg, where he performed for-profit audit, review, compilation and tax engagements for regional wholesale, retail, manufacturing and service concerns, specializing in consolidations. Jim received his bachelor’s in accounting with minors in economics, finance, philosophy, psychology and theater in 1991 from Marshall University.
The Innventure Closed Loop Model was created in partnership with our PLPs as a critical component of Innventure’s investment model. It provides unique access to highly disruptive technologies that are not available to the marketplace. These technologies, by definition, are designed to be transformative market solutions and have substantial economic potential, inspiring large MNCs to adopt, promote, and provide ongoing support for development and distribution.
The engine by which Innventure selects and launches disruptive technologies.
For Illustrative Purposes only
MNCs who are investing technology based on market needs are ideally suited for spin out as venture-funded company.
In traditional early stage investing, a large portion of investment technologies could be shut down – a holistic approach to each venture maximizes success potential.
The nature of highly transformative technology investing companies results in direction of market change where venture required the nimbleness (provided by consistent funding).
Innventure’s Platform Company Risk Management approach is designed specifically to mitigate the risks typically associated with early stage companies:
Origination
Technology
Adoption
Execution
Funding
Innventure revolutionizes the traditional venture capital “set-it-and-forget-it” model by providing the open-architecture framework, resources and infrastructure to commercialize proprietary IP.
Chart Source: Cap Table 101, Kevin Lu 12/3/2018
Built-in Pipeline from PLP
Infrastructure & IP for growing and scaling business (Closed Loop Model)
DownSelect Process Infrastructure & IP for growing & scaling business
Built-in ESG focus and social consciousness
Success by association tied to MNC partnerships
Media-related posts here
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