Mr. David Freschman is a Co-Founding Partner and Board Member at ARC Angel Fund. Mr. Freschman also serves as Managing Principal at Innovation Capital Advisors. He had served as the President and CEO of the DIF since its establishment in 1995. The DIF is a seed- and early-stage venture capital fund that focuses on entrepreneurial ventures in the Mid-Atlantic region. Mr. Freschman had been responsible for all aspects of IV's and the DIF's management since its inception, including the business strategy, fiscal and operational management, raising investment capital, and evaluating all investment opportunities and portfolio company management. Mr. Freschman was very active in the venture and entrepreneurial communities. He was one of the organizers and initial investors in the Mid-Atlantic Angel Group, where he served on the angel fund's Executive and Investment Committees. He sat on a number of Boards, and has been a lecturer on venture capital, entrepreneurship and angel investing at The White House Conference on Small Business, The Wharton School of the University of Pennsylvania, Temple University, the University of Delaware, Goldey-Beacom College, and Loyola College in Baltimore. He was the creator and founder of Early Stage East - the premier early-stage venture capital event on the East Coast. In 2001, Mr. Freschman was appointed by Gov. Ruth Ann Minner to chair the venture capital study of Delaware's Strategic Economic Council. Mr. Freschman was appointed and served a three-year term representing New Castle County, Delaware, on the Small Business Advisory Council of the Federal Reserve Bank of Philadelphia through 2002. Prior to establishing the DIF, Mr. Freschman was responsible for the formation of the corporate finance advisory division of McBride Shopa & Company, one of the largest certified public accounting and consulting firms in Delaware. Mr. Freschman began his career with the Enterprise Group of the Philadelphia office of Arthur Andersen, LLP, from 1984 through 1989. He graduated with honors with an MBA from Loyola College of Maryland and cum laude from the University of Delaware with a B.S. in accounting, where he was a John B. Lynch Scholar. He was also a member of Beta Gamma Sigma - the National Honor Society.