SOURCE: Osage Venture Partners
BALA CYNWYD, PA--(Marketwired - Mar 5, 2014) - Osage Venture Partners (OVP), a leading venture capital firm investing in early stage enterprise technology companies in the Mid-Atlantic region, is pleased to announce that David Drahms has been promoted to Partner from Principal and Michael Phelan has joined the firm as a Venture Partner. David is an integral part of OVP's team, and the promotion recognizes David's contributions to OVP and to the OVP portfolio. Mike Phelan was previously CEO of SevOne and has deep operational experience building high growth technology businesses. These actions highlight OVP's continued investment focus in the Mid-Atlantic region and in the enterprise technology sector.
David Drahms joined Osage Venture Partners in 2005. Since that time he has played a leading or supporting role in most fund investments and driven OVP's healthcare IT focus area. Recent accomplishments include leading OVP's investment in Ceptaris and serving as Osage's board representative from our initial investment in 2006 through the company's $250 million exit to Actelion in 2013. Today David serves on the boards of Halfpenny Technologies, Identropy, and ProtonMedia, and is a board observer with InstaMed, PeopleLinx, and FieldView Solutions.
"David is well respected inside Osage, within the broader investor community, and most importantly with entrepreneurs. He brings to everything he does a balanced, educated perspective and a commitment to ethical and entrepreneur-centric investing," stated Nate Lentz, Managing Partner at Osage Venture Partners. "We are delighted to announce this much-deserved promotion."
Mike Phelan joins OVP as a Venture Partner with a focus on providing hands-on support to portfolio companies and on strengthening Osage's relationships with the regional entrepreneurial community. Mike was most recently CEO of SevOne, a network infrastructure management company that completed a $150 million recapitalization from Bain Capital Ventures in late 2012. Mike led SevOne through a six year period of dramatic growth, achieving 100x revenue growth and a 15x investor return. Prior to SevOne, Mike founded StorNet and built the company into a leading national consulting and storage networking integration firm before its sale to Vangard Technologies, Inc.
"We are thrilled to have Mike join the Osage team," stated Robert Adelson, Managing Partner of Osage Venture Partners. "After six years of working as CEO of one of our most exciting companies, Mike's decision to become one of us is a real testament to the relationships we seek to build with our portfolio CEOs. Already we are seeing our portfolio CEOs and new entrepreneurs seeking out Mike's counsel on a broad array of topics."
About Osage Venture Partners
Osage Venture Partners (OVP) is a venture capital firm located just outside of Philadelphia, PA that invests in early-stage enterprise technology companies in the Mid-Atlantic region. OVP raised its first fund in 2005, and has invested almost exclusively in enterprise software companies since that time. With over $100M under management, OVP seeks to invest in determined and creative entrepreneurs and provide them with the assistance required to build high growth businesses. For more information, visit www.osagepartners.com/ventures.
About Osage Partners
Osage Partners is a family of investment funds located just outside of Philadelphia, Pa. Osage Partners manages in excess of $200 million. Current fund strategies include Osage Venture Partners, an early-stage enterprise technology fund focused on the Mid-Atlantic region, and Osage University Partners, a multi-stage fund that invests in university startups across a range of sectors. Under the Osage Partners' umbrella, member funds cross-fertilize ideas, leverage internal expertise, and share networks and resources. For more information, visit http://www.osagepartners.com.