Stephen Fleming has over 10 years of private equity experience at the General Partner level. Prior to his venture capital career, he spent 15 years in operations roles at AT&T Bell Laboratories, Nortel Networks, and LICOM (a venture-funded startup).

An Atlanta native and summa cum laude graduate of Georgia Tech, Stephen returned to his alma mater in mid-2005 as Chief Commercialization Officer.
His appointment led a reorganization designed to streamline the handling of intellectual property, accelerate the licensing of technology, and make the Institute¹s resources more readily accessible to business and industry.

Stephen is an active angel investor and a partner in the Seraph Group. In addition to more predictable investments, he is active in the "alternative space industry" and is an investor in two private spaceship companies. Mr.
Fleming also serves on the Board of Trustees of Tech High School, a charter high school emphasizing science, math, and technology in urban Atlanta.

Karen Rands is a Catalyst for Change.  As CEO of Kugarand Holdings, LLC. Karen developed an extensive network of professional services organizations and financial investors and institutions to deliver customized products and services specific to a client’s business and funding needs.  She has been actively developing funding models for clients in this new capital market since the market drop in 2001.  In 2005, Kugarand Holdings facilitated $600,000 in funding for Nature’s Popcorn, a natural foods company.   Karen joined forces with a number of other leading companies to form the Launch Funding Network (LAUNCHfn  www.launchfn.com ) in 2004.  At LAUNCHfn, small businesses get  help developing and expanding their companies to attract capital and excute on their business strategies.  In 2005, LAUNCHfn facilitated the closing on $1M private equity investment for, DAIS Analytics, a nano-fiber company, leading to institutional investment of $10M.  Not willing to wait for the return of Angel Investors,  Karen decided to identify and educate a new generation of angel investors with her wildly successful ezine:  How to Be an Angel Investor www.howtobeanangelinvestor.com   which launched in 2004.  Furthering that goal, Kugarand Holdings acquired the Network of Business Angels and Investors, Inc. in 2005.  NBAI is a 10 year old investment club that has invested in 55 companies totaling $22.1 Million (www.nbai.net ), with two of the angel investments (totalling $125K) coming at the close of 2005.  Karen serves as President of Launch Funding Network, Inc and NBAI. The pillars of these two models: investment group and business development organization, builds the foundation for fulfilling her personal goal to help 100 companies succeed at building good scalable and fundable models by the year 2015.

Karen believes in life long learning.   Her educational foundation comes from a Bachelors in Economics from Emory University and a Masters in Business from the University of Florida.   Her practical business experience in market development, negotiation, and business growth strategies comes from the nine positions and six divisions that she mastered during her 13 years at IBM.  Memorable personal growth experiences came from failed ventures in an internet based consumer marketing company and  a company offering wireless internet and consulting services to Africa.   She is pleased to help aspiring entrepreneurs navigate the murky waters of finding capital by previously serving as Co-Chair for Business Plan Review and Development Committee of mITE, and by presenting “The Money Hunt” at  Venture Capital educational forums for mITE,  BusinessLinc Seminars, GMEN conference, Dekalb County Incubator, various times for the Georgia SBA and most recently a variation called “The Angel Money Hunt” at the Inventors Association of Georgia and the Dekalb County Small Business Expo. 
Karen is a native of California and was reared in North Florida, but having lived in Atlanta since 1981, considers this her true home.  Karen is married and has an active seven year old daughter.   She finds balance in family, business and civic involvements.   Her favorite quote is from Helen Keller, “Life is either a daring adventure or nothing at all”.   The books she is currently reading are:  The One Minute Millionaire by Mark Victor Hanson and For Women Only by Shaunti Feldhauhn.

www.kugarandholdings.com ;   [email protected]

O:  678-222-3473 F: 404-306-1240
10 Glenlake Pkwy, Suite 130, Atlanta, GA 30328

established New Skies Satellites, N. V., a new international satellite communications company based in The Hague, Netherlands,  providing communications services to global satellite service resellers, telephone, television and Internet companies and operating five geo stationary, fixed service satellites acquired from INTELSAT. He acquired real estate, made all initial hires and set up headquarters and five international sales offices.  He also conducted a successful IPO raising $256 m net in Oct. 2000; 22 months from company inception and seven months after the collapse of the Internet/Telecom “bubble”. He successfully expanded staff from zero to 261, increased revenues from $117 m to $209 m and operating income from $10 m to $43 m in three years during telecom recession. Ross recruited his successor and retired as CEO in Jan. 2002; serving as advisor to company until July 2004.  

Previously, Mr. Ross was President of Satelenet International, Inc., a consulting firm he established to advise on domestic and international development, distribution and licensing of Internet, satellite, and cable television networks, programming and services. Clients included Modi Entertainment Networks of India, Discovery Networks, DTV Entertainment, Inc., EMC3, Ipsat Ltd., China Associates, Ltd., RelevantKnowledge, and EuroSeek. He was also was an angel investor in several Atlanta start ups including iXL, RelevantKnowledge and SilverPop. 

Mr. Ross had a successful career at Turner Broadcasting System, where he served as President, Turner International, Inc., from Sept 1994 to Jun 1996 and as a Member, TBS Corporate Executive Committee, from Jan 1991 to Jun 1996. Previous to these appointments, Mr. Ross served in several capacities, beginning as General Counsel and establishing the corporate legal department, then as Managing Director, CNN International Sales, Ltd., followed by stints as Executive Vice President - Turner International, Inc., and Vice President, International Business Development – TBS.