Operating Team

Penny manages all finance and administration functions of the firm; including financial reporting, tax reporting, compliance, human resources, facilities, and investor relations. She works closely with Investing Partners on all deal closings and tracking of investment performance. Penny brings more than 26 years of financial and entrepreneurial experience to Kodiak.

Prior to joining Kodiak, Penny served as a finance consultant at Globespan Capital Partners, a venture capital firm focusing on information technology investments, where she was responsible for working various high level accounting and tax projects, as well as, assisting with the development of dashboards for Investing Partners. Prior to her consulting work, Penny was CFO at Delta Global Trading with responsibilities for trading, hedging strategies, trading relationships, finance, operations, and compliance. Delta was a hedge fund specializing in global fixed income and derivative markets, and one of the many investing groups of Paloma Partners.

Penny grew up in an entrepreneurial family going back many generations and she fulfilled one of her life dreams of creating and owning her own couture boutique. Her target market was professional woman desiring one-stop shopping for professional, casual and evening attire. The business was successful during many market upheavals and the decrease in discretionary spending. Prior to owning her own business, Penny was with Millipore Corporation as a Manager of Finance, Talbots as in Internal Auditor and Internal Control Specialist, and started her career in Public Accounting.

Penny is an active member of the Bentley Executive Club, Women in Alternative Assets, and WAVE. Active in several local community and civic organizations, she has been instrumental in raising funds for community organizations.

Penny has a B.S. in Accounting from Bentley University.

Statement of Purpose
"My goal within an organization is to drive and develop the finance group to add incredible value to the Investment team and the organization as a whole. To create a team atmosphere and collaborate with all to get to the best possible outcome for Investors and Companies. Lead by example and encourage all to do the same where ever they fall within the organization."

Steven Horwitz is a Kodiak Operating Partner with over 20 years of operating experience in a wide range of high technology companies. He focuses on enabling, transformative technologies and services, ranging from enterprise software to SaaS solutions and infrastructure. He represents Kodiak on the boards of Astadia and Qvidian and works in an advisory role with Application Security Incorporated and other portfolio companies.

Prior to joining Kodiak in 2008, Steven served as CEO of Vettro (acquired by Antenna Software), and Chairman of the Board at Vericom Technologies. He also served as President and CEO of several enterprise software companies including Clareos, RulesPower (Acquired by Fair Isaac) and Q-Link Technologies a pioneer in the Business Process Management market segment (Acquired by Adobe Systems). Prior to Q-Link, he served as Vice President of Business Development of Tech Data Corporation and was part of the founding team at ENTEX Information Services, a global provider of technology services to Global 2000 companies. Steven earned his BBA in Finance at Hofstra University.

Statement of Purpose
"It's energizing working with passionate entrepreneurs who are building companies focused on fundamentally reinventing and optimizing how businesses operate. My experience as an operating executive in large I.T. intensive organizations and early stage technology companies allows me to partner with entrepreneurs to build sustainable business that create shareholder value."

David Lee is an Executive in Residence with a focus on Life Technologies. He works from early concepts in biological research and technology development and evolves commercial applications and then new companies. He founded Lumicell Diagnostics Inc. a Kodiak portfolio company.

Prior to joining Kodiak in 2008, David was the founding CEO of T2 Biosystems along with several Harvard Medical School and MIT faculty. He has a research appointment in the MIT Koch Institute for Integrative Cancer Research where he leads several important cancer research programs. David also has an appointment in the Bioengineering and Electrical Engineering Departments of Stanford as a senior advisor for developing technology life science diagnostics. Prior to his role at MIT David was the Senior Vice President of Arthur D Little, Inc for Technology and Product Development which was one of the three lines of business of the company.

David has his undergraduate and graduate (Master's degree) degrees from MIT and holds numerous patents.

Statement of Purpose
"I love creating things, starting from a clean sheet of paper. Addressing a need in society with an idea and building a world class team to solve it is my passion and my talent. While at Arthur D Little I built a world class technology business focused on energy technology and now I am dedicated to improving the quality of life by enabling medical advances with new technology."