Burton Names MAVA Prez

John Burton, co-founder and managing general partner of Updata Partners, has been elected president of the Mid-Atlantic Venture Capital Association. He succeeds Kevin Burns, a co-founder and managing principal of Lazard Technology Partners, who will assume the position of chairman.

 

PRESS RELEASE

John Burton, co-founder and managing general partner of Updata Partners, has been elected by the board of directors as president of the Mid-Atlantic Venture Association (MAVA). MAVA is the Washington area's leading professional organization focused on creating a forum for the providers of private equity, their service providers, and successful entrepreneurs in the mid-Atlantic region.

 

“For more than two decades MAVA has played a vital role in advancing our region's dynamic growth by creating opportunities for investors and entrepreneurs to interact,” Burton said. “That's more important now than ever as the credit markets tighten and innovators in sectors ranging from life sciences to technology to alternative energy continue to seek funds to fuel strategic growth. I believe MAVA's 500 members from the venture capital community will be the right funding solution for many growing companies, and I'm confident that as MAVA continues its focus on entrepreneurs, the organization will serve an enhanced role in company formation. I am honored to be named to lead this important organization at such a critical time.”

 

Founded in 1998, Updata Partners has invested in more than 40 high-growth information technology companies. Updata Partners manages nearly $500 million in venture funds that continually achieve top quartile returns. In November 2007, Updata announced the final close of its fourth fund, Updata Partners IV L.P., at $225 million. With over-subscribed commitments on the fund's $200 million objective, the firm is continuing its focus on investing in rapidly growing, market-leading software and software-enabled technology companies. Updata Partners and its mergers and acquisitions affiliate, Updata Advisors, serve the investment market from offices in Reston, Va., New York and New Jersey.

 

In addition to his decade as an investment professional and leader of Updata, Burton's experience includes more than 30 years in executive positions at information technology companies. He is former president, CEO and chief operating officer of Legent Corporation and was co-founder of Business Software Technology, Inc. He has been recognized by the technology community in the mid-Atlantic region with the 2001 Financier of the Year Award, presented by the Northern Virginia, Maryland and DC Technology Councils, and with the 2002 Earle C. Williams Award for significant contributions to the Northern Virginia technology community. He graduated with honors from Boston College.

 

Burton succeeds Kevin Burns, who will assume the position of MAVA chairman as Burton takes the helm as president. Burns is managing principal and co-founder of Lazard Technology Partners. He heads LTP's Washington office and served as MAVA's president from 2005 through 2007.

 

“It has been my great pleasure to serve as president of MAVA as the organization has increased its visibility and impact through increased marketing outreach, substantial programming for members and a sharpened focus on entrepreneurs. We have worked hard to raise awareness of the region and to benefit the venture capital professionals and associates who are our members,” Burns said. “I have every confidence that as incoming president, John Burton will keep MAVA's momentum going strong.”

More than 20 leaders in the private equity and venture capital community serve on the MAVA board of directors. MAVA serves its members and affiliates from offices in Tysons Corner, Va., and Timonium, Md.

 

“MAVA is indebted to Kevin Burns for his contributions, not only as president since 2005, but as an active member since the very early days of our organization,” said Julia Spicer, MAVA executive director. “We are fortunate that as Kevin assumes the role of MAVA chairman where he will continue to be active, we have the benefit of another extraordinary leader to take the reins as president. As our incoming president, John Burton brings MAVA a wealth of executive experience and the commitment to lead us into the next decade of this century. With Kevin and John's professional expertise, MAVA is well-positioned to continue to serve a catalyst for the full life-cycle of private investments and to deliver programming that facilitates business in an ever-changing venture market.”

 

About MAVA

MAVA represents private equity and venture capitalists with investment interests in the mid-Atlantic. Founded in 1986, MAVA provides a wide range of programs, information and forums designed to facilitate quality deal flow, encourage collaboration, and foster relationships with entrepreneurs and investors in order to promote private equity investment. Membership includes more than 500 venture capital professionals representing nearly 125 firms with collectively more than $100 billion in capital under management. In addition, more than 250 key professional service providers from the legal, financial, executive search and consulting fields are also MAVA members. For more information, please visit www.mava.org.