IVCA Announces 2016 IVCA Awardees

IVCA Announces 2016 IVCA Awardees

October 12, 2016

Chicago, Illinois (October 12, 2016) - The Illinois Venture Capital Association (IVCA) is pleased to announce the recipients of the 2016 IVCA Awards.  The following awardees will be honored at the IVCA Annual Awards Dinner on December 5, 2016.

  • Richard J. Daley Award – Ellen Rudnick, Polsky Center for Entrepreneurship and Innovation – at the University of Chicago Booth School of Business
  • Stanley C. Golder Award – Paul Carbone, Pritzker Group Private Capital
  • Venture Capital Portfolio Company of the Year Award – Cleversafe
  • Private Equity Portfolio Company of the Year Award – Sage Products, LLC

Ellen Rudnick

Ellen A. Rudnick is both the inaugural Executive Director of the Polsky Center for Entrepreneurship and Innovation – at the University of Chicago Booth School of Business – and Adjunct Professor of Entrepreneurship. She has spent 25 years in business management and entrepreneurial activities, primarily in the health care and information services industries, prior to joining the Chicago Booth faculty. During this time, she was president and CEO of Healthcare Knowledge Resources, president of HCIA, chairman of Pacific Biometrics, and corporate vice president of Baxter Healthcare Corporation.

She works with the many start-ups that emerge from Chicago Booth’s entrepreneurship programs. Both her governance activities and start-up interests help her to bridge the gap in the classroom between the theoretical and the real world.

Ms. Rudnick has been the recipient of a number of honors, including Today's Chicago Woman 20th Anniversary Hall of Fame and the YWCA Leadership Award. She serves or has served on numerous corporate boards including Liberty Mutual, First Midwest Bank, HMS Holdings, Patterson Companies, Oxford Health Plans, Northshore University Healthcare Research and Development, the Chicagoland Entrepreneurial Center/1871 and MATTER.

Paul Carbone

Mr. Carbone is the Managing Partner of Pritzker Group Private Capital. Pritzker Group Private Capital acquires North American-based companies with enterprise values between $100 million and $750 million, focusing on quality businesses with leading positions in the manufactured products, services and healthcare sectors.

He was previously Director and Managing Partner of the Private Equity Group for Robert W. Baird & Co., which makes venture capital, growth equity and buyout investments in smaller, high potential companies in the U.S., Europe and Asia. Prior to joining Baird in 1994, Mr. Carbone was a Senior Vice President in the Investment Banking Group at Kidder, Peabody & Co.

Mr. Carbone is on the board of directors of several civic, cultural and charitable organizations including the Lyric Opera of Chicago (Executive Committee and Chair – Finance Committee), University of Wisconsin Carbone Cancer Center, Misericordia Endowment Fund, Shedd Aquarium (Executive Committee and Chair – Human Capital Committee) and the University of Chicago Medical Center (Chair – Audit Committee). He also is a member of The Economic Club of Chicago and Commercial Club of Chicago. In 2016, Mr. Carbone served as an EY Entrepreneur of the Year national judge for family business, after serving for three years as a regional judge.


Sage Products, LLC

In December, 2012 Madison Dearborn Partners (MDP) acquired from the four co-founders, Sage Products, LLC (Sage), a leading developer of products used to prevent hospital-acquired conditions such as ventilator-associated conditions, skin injury due to incontinence, pressure ulcers, surgical site infections and healthcare worker injury.  Sage has demonstrated an ability to identify unmet medical needs and develop innovative solutions. The company has consistently created new markets and product categories in patient infection control and preventative care. Sage has a track record of changing behaviors at healthcare facilities to improve patient outcomes. All of Sage’s existing solutions are market leaders in their respective categories. In April, 2016, after working with management to increase revenue by almost 50% and net earnings by 63%, Madison Dearborn Partners sold the company to Stryker for 4.2x its original investment.

Cleversafe

Founded in 2004, by Christopher Gladwin, Cleversafe is a recognized market leader with more than 350 patents in object-based, on-premise storage solutions that enable clients to scale to exabytes of storage, or billions of gigabytes. Clients across multiple industries use Cleversafe for large-scale content repository, backup, archive, collaboration and storage as a service.  In November 2015, Cleversafe, now known as IBM Cloud Object Storage, was sold to IBM.  Cleversafe required almost $100 million in venture capital funding in multiple rounds over 8 years to build the technology and the team to deliver on the founder’s vision.  Investors included IVCA Members: Harrison Street Capital, Motorola Solutions Venture Capital, New Enterprise Associates, OCA Ventures, and Pritzker Group Venture Capital.  Cleversafe was sold to IBM in 2015 for $1.3 billion.