ADVISORY BOARD

Phil Smith
Founder, CitiCorp Ventures in 1967
Founder, iQVenture Partners

Philip B. Smith founded Citicorp Venture Capital in 1967 and served as its first President and Chief Executive Officer until 1972. Phil built Citicorp's pioneer venture capital group into a $40 million fund which, through subsequent expansions, has earned Citicorp over $7 billion to date.

Among the major investments for which Phil shared responsibility while at Citicorp Venture Capital are: Autex, Autotronix Systems, Data 100, Datapoint, Entrex, Essence, Federal Express, James River Corp., Nuclear Assurance, Psychology Today, Storage Technology and Right-Away Foods.

Phil’s selection of young associates at Citicorp includes some of the current luminaries of the venture capital industry: Ed Glassmeyer (co-founder of Oak Investment Partners), Russ Carson and Pat Welsh (co-founders of Welsh, Carson, Anderson & Stowe), Larry Lawrence (founder of Lawrence Venture Associates), Bob Swanson (founder of Genentech) and Arthur Patterson (co-founder of Accel Partners).

Phil has shared responsibility for successful early stage investments in Ciena Corp. and Advanced Technology Materials, Inc. He is also a special limited partner and co-founder of Utech Venture Capital Corp. located in Washington, DC, which specializes in strategic investments in companies of interest to its public utility limited partners.

Following a series of senior management positions at Citibank, Phil joined Irving Trust Company as Executive Vice President and Group Executive of the Worldwide Corporate Group (1977-1984).

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