Investment Panel

Our team includes a strong mix of domestic and international experience, along with private debt and equity investment acumen.

Stuart Davidson

Mr. Davidson has been involved in investing in early stage companies for the past 17 years. He is a managing partner of Labrador Ventures. Mr. Davidson is the Labrador representative with portfolio companies Intruguard Devices, NextHop Technologies, and Shotspotter. Prior to Labrador, Mr. Davidson founded and served as CEO of Combion, Inc., which was acquired by Incyte (Nasdaq:INCY). He also served as President of Alkermes, Inc. (Nasdaq: ALKS), a biotechnology company focused on drug delivery. He managed the development of this company from concept stage through the initiation of human clinical trials. Mr. Davidson also worked for MCI Communications and for Warner Communications, where, in different management capacities, he was responsible for the development of a number of information technology business opportunities including electronic messaging, data networking, interactive cable TV, and on-line services. Mr. Davidson is a graduate of Harvard College and Harvard Business School.

Lisa Hall

As EVP and Chief Lending Officer, Ms. Hall oversees Calvert Foundation’s growing global private debt portfolio totaling $150 million in 250 groups in 120 countries and all 50 US States spanning micro credit, social enterprise and community development. She previously served as Chief Credit Officer for the American Communities Fund in the Housing and Community Development Division of Fannie Mae Corporation. Prior to that, Ms. Hall worked in the Clinton Administration covering community development issues as a Senior Policy Advisor at the National Economic Council (NEC). As part of her work at the NEC, she chaired the inter-agency working group for Clinton’s New Markets Initiative, which resulted in legislation and a tax credit program to encourage private investment in low-income areas. Lisa has also held positions in real estate and community development finance with the Enterprise Foundation, JP Morgan Chase and Travelers Insurance. She holds a BS in Economics from the University of Pennsylvania and an MBA from Harvard University.

Ira Lieberman

Since 1995, Dr. Lieberman has been deeply involved in the microfinance sector. He started and managed the Consultative Groups to Assist the Poorest (CGAP) from 1995 to 1999, and from 2003 to 2004, worked as a Senior Economic Advisor to George Soros and the Open Society Institute, building their microfinance capacity in the Balkans. Since 2005, he has served as the Chairman of the Advisory Board of the Emergency Liquidity Fund for Latin America. Dr. Lieberman is also a member of the Council of Microfinance Equity Funds. In addition to his work in microfinance, Dr. Lieberman was responsible for co-managing the World Bank’s global practice on privatization. Prior to the World Bank, Dr. Lieberman worked for some twenty years in private business at Arthur Andersen, managed consulting operations in Western Europe for Touche Ross (now Deloitte & Touche), and served as CFO, Executive Vice President and CEO of ICC Industries Inc.'s manufacturing group. Dr. Lieberman is currently President of his own consulting and advisory company. Dr. Lieberman has a BA from Lehigh University, an MBA from Columbia University and a PhD, Oxford University.

D. Wayne Silby

Mr. Silby founded Calvert Group, a $15 billion investment management group in Bethesda, MD, noted for their leadership in the area of socially responsible investment. Though he is no longer active in most of the day-to-day business of Calvert, he serves as President of Calvert Social Investment Fund and supervises its private equity activities. Mr. Silby also co-founded Social Venture Network, a group of socially oriented entrepreneurs and investors, and Calvert Social Venture Partners, one of the first socially oriented venture capital funds. Mr. Silby helped start an Internet company focused on group collaboration, called GroupServe Foundation, which he now chairs. He also started the Emerging Europe Fund for Sustainable Investment, a $60 million OPIC private equity fund focused on Central Europe. Mr. Silby chairs the China Committee of Grameen Foundation USA, on whose board he also serves, and serves on the board of the Grameen Technology Council, which addresses issues of the digital divide. He has a BS in Economics from the Wharton School of Finance at the University of Pennsylvania, and a JD from the Georgetown University Law Center.