CalCEF Angel Fund

Susan Preston, General Partner

Susan has spent most of her career in senior management positions in public and private companies, from general counsel to CEO.  She has also been a partner in two national law-firms and is a patent attorney.  Susan is a world-recognized expert in angel financing, and is the author of numerous articles, white papers and books on angel financing. Her most recent book, Angel Financing for Entrepreneurs, was released by Wiley Publishing.  She has been and continues to be a national and international speaker on economic development, angel and venture financing. She was an Entrepreneur-in-Residence with the Kauffman Foundation for six years focusing on initiatives related to angel investing, angel organizations and women entrepreneurs.  She is the architect of the Access to Capital for Entrepreneurs Act, a bi-partisan federal income tax credit bill for private equity investing, which will be re-introduced in Congress this session.  Ms. Preston received her JD, cum laude, from Seattle University and her BS, magna cum laude, Phi Beta Kappa, in Microbiology and Public Health from WSU.

Paul Fox, Principal

Paul is a cleantech veteran, having worked as an engineer, strategy consultant, and CEO of several start-ups.  He combines operational experience in seven countries, early-stage technology marketing and finance, and deep networks in the clean-tech community.  Paul was the founder of tech2mkt, a technology commercialization firm and venture partner to several investors, governments and R&D institutions. Previously, Paul was founding CEO of SC Power Systems, a grid-scale energy technology company now listed on the AIM as Zenergy Power (ZEN).  Before that, he was VP Operations Development at Flextronics and the CEO of a fuel cell company backed by Flextronics.  In other roles, Paul built the first mobile phones made in Hungary; was a strategy consultant at PA Consulting Group during the de-regulation of the electricity and water markets; and was operations manager for one of Australia’s largest construction organizations.  Paul began his career building water and power systems in remote localities.

Investment Committee

A five-person Investment Committee makes investment decisions. The Investment Committee includes Susan Preston, two CalCEF representatives and two other Limited Partners or representatives of Limited Partners of the CalCEF Angel Fund. Susan Preston is a permanent member. As the founding Limited Partner, CalCEF also takes one permanent position. Initial investments will require an 80% affirmative vote while follow-on investments will require a unanimous vote. This Investment Committee structure leverages the CalCEF network, the intelligence and experience of CalCEF Angel Fund members and the expertise and discipline of a professional fund manager, while maintaining an abiding focus on value creation and returns.