The Team

• Thomas D. Nastas
• Navin Edwin
• Valentina Botchkareva

Tom Nastas is founder of two companies, and president of Innovative Ventures Inc. Mr. Nastas has 28 years of business experience with 14 years in private equity; five years of venture capital experience in the US/Canada and nine years in international private equity in Europe, Africa and the CIS, the last 3 years, he's been in Russia. From 1998-1999, Mr. Nastas took a leave of absence from Innovative Ventures and served as Managing Director of the US Russia Investment Fund, a US Government sponsored fund with US$440MM of capital under management. He has a B.A., cum laude, 1971; and a M.B.A., cum laude, 1973, both from Michigan State University.

In 1986 Mr. Nastas raised US$4MM from the State of Michigan, corporates and individuals to capitalize a public-private investment fund. He originated deal flow, transacted six investments, and managed two as portfolio company board of directors including Applied Intelligence Systems Inc., and Neogen Corp. The fund was fully invested in 1989 with investments liquidated in the 1990's. The Fund generated financial returns in the top 25% of 1986 vintage funds. Mr. Nastas led the Company's entry into the international investment business.

Mr. Nastas expertise in client assignment is the creation of investment solutions that satisfy the development objectives of donors with the financial needs of private sector investors. He has served as an advisor to the IFC, the investment arm of the World Bank, the World Bank, the Lower Volga Regional Venture Fund, a fund capitalized by the European Bank for Reconstruction & Development and private investors, the European Commission, Financiere Saint Dominique, the Government of Kazakhstan, the United States Agency for International Development, and the Federal Business Development Bank of Canada.

In conducting these assignments, Mr. Nastas has:

1. Advised in the placement and investment of US$285MM to finance private equity and 'fund of funds' domiciled in USA, Canada, W. Europe, Sub-Saharan countries (from Nigeria to Mauritania and down to South Africa), East Africa countries of Kenya, Uganda and Tanzania, & South Africa.
2. Transacted/advised in the investment of US$81.4MM in twenty-six companies domiciled in USA, Canada, W. Europe, South Africa, East Africa, Kazakhstan, and Russia. Sector experience includes telecommunications (voice data, fixed and mobile), computer hardware and software, printing, consumer products, media, bottling, and banking (Russian).
3. Invested capital as equity, debt and royalty financings.
4. Transacted early stage IT investments: US$8.1MM in ten+ companies located in North America, Europe, Canada and Africa, US$3MM in telecommunications in CIS countries, and advised in due diligence/investment of US$39+MM in media, IT and telecommunications in Africa and CIS countries. Investments were in hardware and software products for OEM and end-user applications, computer motherboards, engineered microprocessor turnkey systems and electronic instrumentation, satellite, and fixed line telecom.

Mr. Nastas was previously a consultant in new enterprise development, turnarounds, training of client staff in market development and product planning to Fortune 500 (AMF, Lear Siegler and Sealed Power), middle market (Donnelly Inc., Federal Screw Works and Park Chemical) and venture stage (Vixen Motor, Chinese Computer Comm., Recomtex, Sinteris Magnetics and Enmark Systems Inc.) companies, and the technology transfer divisions of Michigan State University and the University of Michigan.

Mr. Nastas developed a new automotive fastening system, and penetrated the assembly plant as a new market niche for Multifastener Corp., as its manager of product planning, 1978-1982. He was a visiting instructor of marketing at Michigan State University from 1978-1982 too. In 1973 Mr. Nastas co-founded Planned Innovation, a consultancy in technical product planning & development. He began his career as product development engineer, Ford Motor Company.

Mr. Nastas is author of several publications including:

• "New Directions in European Private Equity", European Venture Capital Journal;
• "Rejuvenating Venture Capital in Canada", Canadian Investment Review;
• "Managing Risk to Improve Total Returns" (START-UP, newsletter of the European Commission's Seed Capital Fund Program);
• "Royalty Deal Structures Improve Total Returns", Asian, Canadian & UK Venture Capital Journals;
• "Balancing Risk/Return: A New Way to Limit Risk Without Slashing Returns", US Venture Capital Journal;
• "Improve Total Returns in International Private Equity", Venture Capital Timesaver;
• Contributing author of two books: "Cases in Product Planning & Development" and "Starting A Hi-Tech Company: An Insider's View Of Entrepreneurship", University of Michigan Press.

Mr. Nastas is a U. S. citizen. He speaks intermediate Russian.

Valentina Botchkareva

A Russian national, Valentina Botchkareva graduated from the Volgograd Pedagogical University, Faculty of foreign languages - English and German. Later on she finished the course of the Moscow VAO Intourist Institute for the employees and managers of Intourist Travel Company and mastered Spanish.

Valentina worked at the Volgograd branch of VAO Intourist for 15 years. From 1995 to 1998 she worked at the Representative Office of the Lower-Volga Regional Venture Capital Fund, one of the regional venture funds of the European Bank for Reconstruction & Development.

The Lower Volga Regional Venture Fund managed US$30MM and made investments in consumer products, construction materials and telecommunication companies. Its headquarter's office was located in Volgograd, with regional offices in Saratov and Samara. Ms. Botchkareva worked in the Volgograd office as its office-manager, translator and personal assistant to the Fund's General Director.