Mark Butterworth is Principal of venture capital management and consulting firm Innovation Forward. Mark is a co-founder of the East Central Ohio Tech Angel Fund (ECOTAF) which, with 27 investors, is one of the largest rurally focused angel funds in the country. Mark also co-founded the Ohio TechAngels which, with 282 members, is the second largest angel fund in the U.S. Mark has consulted on formation of angel funds in New York, New Hampshire and West Virginia and venture funds in Ohio.
At The Ohio State University Research Park (Scitech) Mark managed pre-seed funds that invested $1.4 million into 14 early-stage technology companies. He then secured $25 million of follow-on venture and angel investment and $8 million of Federal and State grants.
Previously, Mark was with The Ohio Partners a $35 million early-stage venture fund formed by Maury Cox, former President and CEO of CompuServe, and The Columbus Dispatch. Mark was an active board member of portfolio companies and helped recruit senior management, attract venture capital for the next round of investment, make sales contacts, and assist in IPO's and the sale of the company. Fund performance included 1 IPO and 7 acquisitions.
At CompuServe, an $800 million information technology company, Mark led the launch a $530 million IPO led by Goldman Sachs and Merrill Lynch. He also helped grow revenues 330% ($655 million) over 6 years by directing the M&A, venture capital, strategic planning, treasury, budgeting and analysis, cost accounting, and internal reporting activities.
At OCLC Online Computer Library Center, a $235 million library services company, Mark directed the new product analysis process which launched the world's most used reference database (OCLC FirstSearch). He helped grow revenues 200% ($59 million) over 7 years by managing the M&A, planning and analysis, and internal reporting activities.
Mark received his MBA in finance from The Ohio State University. He earned his undergraduate degree in management from Ohio University where he was recognized as an Outstanding Undergraduate in the College of Business.