Washington Business Journal Honors NBVP Partner Roger Novak with Outstanding Service Award

March 13, 2012The Washington Business Journal recognized Novak Biddle general partner Roger Novak with an Outstanding Directors Award for his service on the board of Blackboard, Inc. (Nasdaq: BBBB), a global leader in enterprise technology and innovative solutions that improve the experience of millions of students. The Washington Business Journal and premium sponsors Chase and Ernst & Young LLP, in partnership with the National Association of Corporate Directors, Capital Area Chapter, honored outside directors whose service to their boards has been exceptional at an awards ceremony February 23, 2012, at the Four Seasons Hotel in Washington, D.C. Blackboard CEO Michael Chasen presented Roger with award.

As one of the country’s most active and experienced venture investors in the education sector, NBVP first backed Blackboard as a startup in 1997. Since then, the company has grown into an international enterprise, allowing thousands of higher education, K-12, professional, corporate, and government organizations to extend teaching and learning online, facilitate campus commerce and security, and communicate more effectively.

“While I’m humbled by this recognition, the greatest honor is to see innovative companies - born from an entrepreneur’s passion, hard work, and commitment - emerge as invaluable contributors to society. Supporting entrepreneurs with capital, guidance, and market expertise is the essence of venture capital and companies like Blackboard make the profession incredibly rewarding,” said Roger Novak.

“Inherent in every entrepreneur is the drive to build a company or innovation that can affect real change. Blackboard’s early investors, Novak Biddle Venture Partners chief among them, supported our vision and helped us realized that goal. Roger Novak’s continued guidance through his board membership over the years has been invaluable. On behalf of the thousands of Blackboard employees and users, it is my honor to recognize him and his tremendous contributions to the company,” said CEO Michael Chasen.

About Novak Biddle Venture Partners
Novak Biddle Venture Partners is a leading early stage venture capital firm focused on unique, cutting-edge technology investments in the Eastern United States, as well as targeted opportunities nationwide. With $580 million under management, Novak Biddle operates five venture funds that currently provide equity financing and management assistance to 42 portfolio companies. Novak Biddle continues to seek business situations where the combination of ideas, dollars, experience, and relationships can create long term, sustainable value. A sampling of companies funded by Novak Biddle include: RFID first-mover Matrics, voice over IP trailblazer Telogy, education technology leader Blackboard Inc. and intelligent video surveillance pioneer ObjectVideo. For more information, visit www.novakbiddle.com.

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