USM Gains Momentum with Wise
David Wise has been appointed director of the Maryland Momentum Fund, a $25m vehicle that supports companies emerging from University System of Maryland.
Author: Theirry Heles, Editor
University System of Maryland (USM) has named David Wise (pictured) as the director of its Maryland Momentum Fund, the $25m initiative that supports companies launched from USM’s 12 institutions and its incubators.
Wise joined USM at the end of last month, having previously been chief executive of vaccines and vaccine delivery technology developer Pharos Biologicals.
His responsibilities will include the review and due diligence of proposals as well as making recommendations on investments. Wise will also support early-stage spinouts alongside UM Ventures, where he has already been an advisor prior to his new position. UM Ventures is the joint tech transfer initiative of University of Maryland Strategic Partnership. The partnership unites University of Maryland, College Park, University of Maryland, Baltimore and LifeBridge Bioincubator at Sinai Hospital.
Wise has also been the venture advisor to the president of Abell Foundation, making recommendations on the socio-economic development firm’s direct investments.
He has previously served as a business competition judge at University of Maryland, College Park’s Fischell Department of Bioengineering and University of Maryland School of Medicine.
Robert Caret, chancellor of USM, said: “David Wise brings more than 30 years in his business career to this important role as director of the Maryland Momentum Fund.
“His varied experiences and venture capital connections make David an ideal fit to lead a funding mechanism that is vital to driving USM’s growth in technology transfer.”
James Hughes, chief enterprises and economic development officer, vice-president and director of UM Ventures, said: “We are very fortunate to have David leading the Maryland Momentum Fund.
He has great enthusiasm, experience, and extensive contacts throughout the investment community. He will be a wonderful mentor to USM-affiliated companies throughout the State of Maryland.”
-Image Courtesy of University of Maryland, Baltimore.