The Chessiecap Team

Douglas M. Schmidt
CEO and Managing Director
Mr. Schmidt has been an active member of the Mid-Atlantic financial community for over 15 years and is one of the most experienced middle market professionals in the region. As an investment banker with Ferris, Baker Watts and Legg Mason Wood Walker and as an investor with Grotech Capital Group, Mr. Schmidt has participated in the past decade's exceptional growth of technology companies in the region. He has helped to finance technology companies such as BTG, Nichols Research Corp., Advanced Communications Systems, Complete Business Solutions, MAXIMUS, PEC Solutions, and Cysive. Mr. Schmidt began his investment banking career in the 1980s with First Chicago and then Drexel Burnham Lambert in New York, where he was a merger and acquisition specialist. In two decades, he has led dozens of private and public market merger and acquisition transactions, including sales of Cordant, Questech, Business Inpact Systems, SHERIKON, and IRRC. As an investment banker for mid-market technology companies, Mr. Schmidt has executed close to $3 billion in M&A, private placements, and IPO transactions.

Mr. Schmidt is a longstanding member and former director of the Mid-Atlantic Venture Association (MAVA), past chairman of the Greater Baltimore Technology Council, and an active member of the Northern Virginia Technology Council's Capital Formation Committee. He is active as a speaker in the region on a variety of topics including financing, entrepreneurship, and M&A. Mr. Schmidt holds an AB from Harvard College and an MPPM from the Yale School of Management.

Contact: doug@chessiecap.com or 301.469.3181

Alden Hart
CTO and Managing Director
Mr. Hart has a 23-year-career in technology development in early stage technology firms where he has designed and developed telecommunications, transaction processing, financial services, avionics and other real-time and mission critical systems. Most recently, as CTO if the Adrenaline Group, Mr. Hart established Adrenaline’s Technology Consulting practice and spearheaded the work behind that group’s successful practice. Prior to Adrenaline, Mr. Hart served as Vice President of Software Development for CyberCash, Inc., an Internet payments company where he was responsible for system architecture, projects and teams, and technology partnerships. He has developed many online service delivery solutions, as well as embedded systems for digital music, medical research, industrial quality control and aircraft collision avoidance.

Mr. Hart is regularly asked to provide senior technology strategy and implementation consulting to national level clients, including a major media content corporation, the largest securities-industry self-regulatory organization in the United States, and one of the nation’s foremost strategy consulting firms. In this capacity, Mr. Hart provides the new technology insight that Chessiecap clients need to make decisions regarding new technology products, business models and investments. Mr. Hart holds a BS in Electrical Engineering from Duke University.

Contact: alden@chessiecap.com or 703.201.7313

Peter S. Buchanan
Managing Director, Strategy Services
Mr. Buchanan has developed strategies, business models, fundable business plans, and successful market messages that have been implemented by dozens of successful start-up, growth, and mid-market technology companies. He has also been the strategic advisor to numerous companies in helping to define game-changing plays in the telecommunications, software tools, enterprise software, and eBusiness applications markets. Larger clients have included global and regional market leaders like Netscape Communications, Ericsson, Telus, Gateway Computer, Telecom New Zealand, and BCE Emergis. In addition, he has advised more than 50 start-up, growth and middle market companies that have gained significant market traction, including Cyclone Commerce, Acceller, Bridgeborn, BuildTopia, Dynamic Technology Systems, AVIcode, and iDEFENSE. Mr. Buchanan has created over 50 business plans for growth and middle market technology companies seeking a funding, M&A, or spin-out transaction. Over 80 percent of these plans have generated a successful transaction. In total, Mr. Buchanan's clients have executed transactions valued at over $250 million.

Mr. Buchanan has spent over 20 years in the high technology sector and has served in senior strategy, marketing, sales, and business development positions at Operon Partners, Deloitte & Touche, GE Information Services (now Global Exchange Services), British Telecom, and FileTek. He is a graduate of the University of Virginia with a BA in History.

Contact: peter@chessiecap.com or 301.469.3184

Rick Garvin
Managing Director, Technology Consulting Services
Mr. Garvin draws on 21 years experience in building technology companies and managing, architecting, implementing, and building high-end technology systems. Mr. Garvin was formerly with the Adrenaline Group, where he served as the head of Adrenaline's Technology Advisory Services practice. At Adrenaline, Mr. Garvin managed a team that executed turn-around and technology strategy engagements focused on technology due diligence, product planning, software delivery and enterprise architecture. Clients included national companies in finance, transportation, new media, venture capital, mortgage banking and publishing. Prior to Adrenaline, Mr. Garvin was Vice President of Product Development at Opion, Inc., an Internet intelligence technology startup. As a member of the executive team, he was responsible for defining the business plan and managing the product management, system engineering, professional services, pre-sales engineering, and system architecture teams. Previously, he was co-founder and Chief Technology Officer of e-biz (Electronic Business, Inc.), a startup focused on electronic commerce strategic consulting and Internet system architecture consulting. After growing the company from startup to a backlog of $2 million, Mr. Garvin negotiated the sale of e-biz to TeleComputing ASA, a Norwegian ASP that was building a presence in the US. He transitioned to Vice President of Internet Engineering at TeleComputing and was responsible for all product development and product management activities for web-based ASP products.

Mr. Garvin spent 12 years at BTG, where he focused on distributed systems and system architecture. He rose to the level of Vice President of Engineering for Civilian and Commercial sectors. At BTG, he was responsible for due diligence and integration of acquisitions and starting new lines of business - including a successful commercial Internet business unit. Over this period, BTG grew from $5M to over $600M in revenues and from 45 to over 2,000 people. BTG's growth was based on a 50/50 mix of organic growth and successful integration of acquisitions. Mr. Garvin holds a BS in Computer Science from the University of Maryland, College Park.

Contact: rgarvin@chessiecap.com or 703.629.4671

Jeffrey B. Bede
Managing Director, Investment Banking
effBede isa highly successful investment banker, whohas executed over 30 funding, M&A, and IPO transactions -- raising over $1.5 billion for companiesprimarily in the IT and consumersegments. He heads Chessiecap's capital raising and valuationpractices anddeliversexpert financial, capital markets and strategic adviceand execution services. Jeff maintains a constantly growing, national network of over 500 capital sources that provide funding at all stages of the corporate lifecycle. Prior to joining Chessiecap, Mr. Bede was a co-founder and Principal at Capital Run LLC, a Seattle-based boutique investment bank that specialized in providing private equity, debt, and M&A advisory services to IT and consumer products companies nationally. Earlier, Mr. Bede worked forseveral well-known and respected tier one and boutique investment banks, including Prudential Securities, Volpe, Brown & Whelan, Dain Rauscher Wessels, and Donaldson, Lufkin & Jenrette, executing private equity, M&A, and public offering transactions. Jeff's clients have included IQS,AVIcode, USA.net, PlanSoft, Optum,Artel Video Systems, ImageX.com, Nordstrom.com andThe House of Blues.

Mr. Bede holds Bachelors and Masters Degrees from Stanford University and an MBA, with honors, from the University of Chicago.

Contact: jeff@chessiecap.com or 301.469.3186