James D. Ireland III

Prior to forming Capital One, Mr. Ireland was a partner or managing director of several smaller merchant-banking firms involved in principal investments, agency financing and merger and acquisition transactions. During these years he was involved in the structure and execution of over $275 million of financing and merger and acquisition transactions in energy, natural resource, communications, real estate and environmental industries as well as a number of advisory and restructuring assignments for corporate and utility clients. He also served as President, Chairman, or Director of a number of these companies. Prior to 1983, Mr. Ireland served in the Corporate Finance Department of Salomon Brothers Inc where he participated in the structure and execution of over 75 financing and acquisition transactions totaling over $12 billion, primarily with communications, natural resource and manufacturing companies.

Since 1986, Mr. Ireland has served as a Director of Cleveland Cliffs, Inc., the largest North American producer of iron ore and, at various times, Chair of the Finance Committee, the Board Affairs Committee, and the Strategic Advisory Committee of the Board. Mr. Ireland is Chairman and Trustee of the Great Lakes Museum of Science, Environment and Technology (Science Center), First Vice President and Trustee of the Musical Arts Association (the Cleveland Orchestra), and an Executive Trustee of University Circle Incorporated. He also is a founding Trustee and Treasurer of the Generation Foundation and a member of the Executive Council of Nortech, the Northeast Ohio Technology Coalition.

Mr. Ireland graduated from Columbia College (B.A. 1972) with a degree in Economics, specializing also in Anthropology and East and Southeast Asian studies. He did graduate work in Economics and Anthropology, taught at the graduate level at a rural university in Indonesia, and thereafter attended Columbia Business School prior to joining Salomon Brothers Inc in New York City.

Sits on the board of: Supplier Insight, Imalux

James M. Petras - Mr. Petras has been Managing Director of Capital One Partners, the parent of Early Stage Partners, since 1993. Mr. Petras has been involved in virtually all of the transactions that Capital One has undertaken, and he has served as Chairman or a Director for many of its portfolio companies.

Prior to forming Capital One, Mr. Petras in 1988 formed Cleveland-based Wolfensohn Ventures, L.P., a $50 million investment fund. Wolfensohn Ventures sourced, structured, and managed middle market equity investments and was funded by Australian billionaire and media entrepreneur, Kerry Packer, and recent World Bank past-President, James D. Wolfensohn.

Mr. Petras also founded and staffed a successful venture unit based in Cleveland for Citicorp. While at Citicorp Mr. Petras, through a succession of executive positions, managed a region of Citicorp's leveraged lending business with offices in three states, a loan portfolio in excess of $1,240,000,000 and a team of over 100 professionals.
Mr. Petras served as Chairman of the Board of SIMCALA, Inc., and interim Chairman of the Board and presently a director of Pasta Montana, a $17 million start-up manufacturer of pasta products. He serves on the boards of portfolio companies Five Star Technologies, Excera, OPTEM, Simbionix, Thin Battery Technologies, and EcoSmart.

Mr. Petras is a graduate of Oberlin College (B.A. 1974) and the University of Michigan (M.A. and M.B.A. 1978) and a member of the Ohio and Illinois Societies of CPAs, the AICPA as well as the Cleveland Chapter of the Young President's Organization (YPO) and chairman of the board of Trustees of the YMCA of Greater Cleveland.

Sits on the boards of: EcoSmart, Five Star, OPTEM

Jonathan P. Murray - Prior to joining Early Stage Partners as Managing Director in late 2000, Mr. Murray was President of Incubation Services, a strategy consulting firm that provided strategy development, business planning, and financial consulting to early stage companies in life sciences and information technology. Among his clients were Athersys Inc., Aelita Software, ThinkUniversity.com, Party411.com, LearnFree.com, ConnectSpace, IdeaStar, and the Edison BioTechnology Center (EBTC).

Prior to forming Incubation Services, Mr. Murray was President of Volk Optical, a Mentor, Ohio manufacturer of lenses used by ophthalmologists and optometrists to examine eyes for disease. While there, he focused on product branding and marketing programs, reorganized the sales department, implemented enhanced regulatory programs, and contributed to sales increases of 30% per month over the prior year.

From 1991 to 1997, Mr. Murray served in a variety of capacities for Spectra Laboratories, a Silicon Valley-based provider of clinical testing services to kidney dialysis clinics, rising to the position of Director of Marketing. During his seven-year tenure there, he simultaneously built and managed the marketing and the software development departments, and directed the telecommunications department on an interim basis. Mr. Murray contributed to a shift in strategy for the company towards being an information services provider and developed a series of products that were instrumental in the company growing from 55 employees and $7 million in annual sales to 550 employees and $65 million in sales, while dramatically changing the competitive dynamics of the industry.

Mr. Murray is a graduate of George Washington University (B.A., 1980), where he studied Biology and English Literature, and the University of Michigan (M.B.A., 1988). He serves on the boards of portfolio companies Imalux, Ayalogic, TOA Technologies, and Unitask, and of Northeast Ohio’s Singing Angels, a children’s choral group.

Sits on the boards of: Ayalogic, TOA, Unitask

Charles C. MacMillan - Mr. MacMillan has been the Chief Financial Officer of Capital One since 1997. Mr. MacMillan has served as interim CFO for a number of Capital One’s early stage investments.

Prior to joining Capital One, Mr. MacMillan was the Vice President of Administration of Manco, Inc., a consumer products supplier of tapes, mailing supplies and house wares to the retail industry. Mr. MacMillan joined Manco in 1990 as Senior Accountant when the entity had sales of $60 million. He quickly progressed through the finance department to become Vice President of Administration and a member of the Executive Committee by 1996. At the time Mr. MacMillan left Manco to join Capital One, Manco’s sales had grown to over $175 million.

During his tenure at Manco, he was responsible for finance functions and strategic initiatives. As Controller in 1992, he supervised a staff of over 25 individuals, directing the accounts payable, accounts receivable, general accounting, costing, internal control, financial and compliance reporting, budgeting and analysis functions. In 1994, he co-led a project to design and implement systems and processes for distribution requirements planning, warehouse management and inventory control across seven warehouses. In 1996, he co-led a project, to relocate and consolidate, company headquarters, manufacturing, and distribution to a greenfield location. The consolidation of facilities combined with a property tax abatement eliminated close to $2 million of annual costs. A simultaneous selection of a radio frequency warehouse management system saved $400,000 of annual labor costs.

Charles C. MacMillan is a graduate of Ohio Wesley University (B.A., 1985). He is a member of the Ohio Society of CPAs and the AICPA. He began his career with Ernst & Young of Cleveland in 1985. By 1990, he was a Manager in the Entrepreneurial Services Group, providing audit, tax, and consulting services to a number of clients.