Rittenhouse Ventures has assembled an investment team that possesses in-depth operational experience, deep technical knowledge and extensive experience investing in early-stage ventures. The investment team works closely with portfolio companies to assist in their development and growth.
Rittenhouse Ventures has also created an Advisory Board with valuable operating, technical and investment experience. The Advisory Board assists the team in generating investment opportunities, assessing prospective investments and implementing the Fund’s overall strategy. In addition, Advisory Board members actively assist in the Fund’s portfolio enhancement efforts, providing industry insight, strategic assistance and entrepreneurial guidance to the Fund’s portfolio companies.
Rittenhouse Ventures Management Team
Saul Richter, Managing Partner
Mr. Richter is the Founder of Rittenhouse Ventures and has been active within the technology community for over twenty years as a venture capitalist, entrepreneur and technologist. Mr. Richter brings the Fund broad experience in the venture capital industry, having worked at a number of leading venture firms over the past 18 years. Mr. Richter’s strong technical background in software development and systems administration, his ongoing avid interest in emerging technologies and deep early-stage venture experience make him a strong leader of the Rittenhouse team.
Since founding Emerald Stage2, now renamed Rittenhouse Ventures, in 2006, Mr. Richter has led investments in Maverick Network Solutions, acquired by Fiserv (FISV), ClickEquations, acquired by Channel Intelligence, Take The Interview and Halfpenny Technologies. Prior to Rittenhouse, Mr. Richter was a Principal at Himalaya Capital, which he joined in early 2002. While at Himalaya, Mr. Richter was active on the boards of a number of companies including Concerro which was acquired by Francisco Partners in 2012. Prior to Himalaya, Mr. Richter worked at Lucent Technologies in the New Ventures Group, where he focused on the creation and launch of software startups. In addition to Lucent, Mr. Richter has prior venture capital experience working at Softbank Ventures, Jerusalem Global Ventures and Flatiron Partners(now Union Square Ventures). Mr. Richter currently sits on the Boards of Take The Interview, Miria Systems, Vcopious and Halfpenny Technologies(observer).
Mr. Richter also has operational experience as the founder of Zapper Technologies’ US operations. He formed and built out the company’s US office, developed the go-to-market strategy, hired a sales force and worked closely with the Israel-based development team to coordinate product development. Mr. Richter also worked as a financial analyst at Salomon Smith Barney and as head of new product development at Dubois, Brown & Co, a financial analysis software company sold to Thomson Financial (NYSE:TOC).
Mr. Richter earned his MBA from Columbia Business School, where he was awarded the Beta Gamma Sigma Alumni award for overall achievement. He received his BA in economics from Columbia University. Mr. Richter is also a frequent speaker on technology and venture capital trends.
Bruce Luehrs, Managing Partner
Bruce Luehrs was previously a General Partner of the Edison Venture Fund from 1998 through 2006 and has been a banker, entrepreneur, and venture capitalist for the past 30 years. Bruce has extensive experience with both equity and debt financings and is well known in the Philadelphia area, having served as a past Chairman of the Greater Philadelphia Venture Group (now the MAC Alliance) and as an active member of the Mid Atlantic Venture Conference Steering Committee and the Association for Corporate Growth.
Bruce brings a strong track record to Rittenhouse Ventures and has extensive investment experience in the region, having championed numerous Edison investments in the Mid-Atlantic region including Gain Capital, Virtual Edge (sold to ADP), Fiberlink (sold to IBM), Innaphase (successfully sold to Thermo Electron in 2004), Octagon Research (sold to Accenture) and Cadient (sold to Cognizant). Bruce’s investment activities have been concentrated on financial services information technology (IT), pharmaceutical IT and communications services companies. Over the past 15 years, Bruce has championed investments in 20 companies totaling over $65 million. Mr. Luehrs currently sits on the Boards of Tabula Rasa Healthcare(formerly known as CareKinesis), Miria Systems and Core Solutions.
Previously, Bruce was Vice President of Columbia Capital, an investment merchant bank in Alexandria, Virginia and a principal at PNC Equity Management and Fidelcor Capital. While at PNC Equity Management, he directed their specialization on wireless telephone service investments. Earlier in his career, Bruce was a commercial lender with Continental Illinois National Bank (Chicago) and Fidelity Bank (Philadelphia). While at Fidelity, he developed a lending and investment practice for Fidelity Bank to serve emerging growth companies in the Delaware Valley. In 1988, he secured a SBIC license for Fidelity Bank and served as the first President of the SBIC unit and Fidelcor Capital.
Bruce was commissioned as an officer in the United States Air Force in 1975. He received an MBA from the Kellogg School of Management at Northwestern University following graduation from Duke University with a BA in Economics, summa cum laude.
Jayson Tischler, Principal
As a Principal at Rittenhouse Ventures, Jayson brings experience in venture capital, entrepreneurial management, technology, and marketing. Prior to joining Rittenhouse Ventures, Jayson served as the President and Managing Director of the Wharton Social Venture Fund. The WSVF is a student-run organization that discovers, evaluates, and secures early-stage investments across key social sectors—health, financial inclusion, clean energy, and education. In his two years with the WSVF, Jayson was involved with investments in Raise Labs, Care at Hand, and Revolution Credit. Jayson also advised promising technology startups, such as SimCase, to advance marketing and sales strategies.
Jayson spent several years managing large customer sales accounts in Google’s San Francisco office. He proposed, implemented, and optimized multi-media marketing solutions. Before working at Google, he taught second grade in Chicago through Teach for America, and he received a Fulbright Fellowship to conduct research in Singapore. Jayson earned his MBA, with honors, from The Wharton School at the University of Pennsylvania. He received his BA, cum laude, from Yale University.
Rittenhouse Ventures Investment Committee
Britton H. Murdoch, Fund Principal
Mr. Murdoch has over 25 years of experience as a senior financial executive for numerous venture-backed technology companies and public growth companies across the Philadelphia region, including Acting CFO and board of director roles at Fiberlink and V-Span, as well as CFO roles at Internet Capital Group (NAS:ICGE) and Airgas (NYSE:ARG). Until December 2013, when Fiberlink, Inc. was purchased by IBM, he was a member of Fiberlink’s Board of Directors and served as Chairman of the Audit Committee. Mr. Murdoch is also on the Board of Directors and the Lead Director and Chairman of the Executive Committee of Bryn Mawr Trust Company (NASD: BMTC). Mr. Murdoch is also the founder and managing director of Strattech Partners, LLC. Strattech was founded in 2000 and is a business consulting firm that focuses on the development of growth stage companies. Strattech has also invested directly in private companies and alternative asset funds. Mr. Murdoch is involved in the non-profit arena where he is a Trustee as well as the Chairman of the Audit Committee of Thomas Jefferson University and a Trustee of the Thomas Jefferson University Hospital and EMF Foundation.
Mr. Murdoch was the Principal and CEO of BMW/MINI of the Main Line from 2006 to 2012. The business is based in Bala Cynwyd, PA with combined revenue of $120 Million and was successfully sold to EuroMotorcars in December, 2012. From 1997 to 2000, Mr. Murdoch was Acting CFO at Fiberlink and V-Span (venture backed, communications and Internet security companies). Sales for both companies doubled each year during that time and they were able to attract strategic investors such as Comcast, Goldman Sachs and GE Capital. Mr. Murdoch was also CFO for Internet Capital Group (NASD: ICGE), a development company for B to B e-commerce companies, from 1997 until June 1998. He was responsible for ICG’s second round of equity financing, bank financing, strategic planning and SEC exemptions, which were key to the company’s IPO in August, 1999. ICG, at its high, had a market capitalization in excess of $50 billion.
Prior to 1997, Mr. Murdoch was CFO, VP of Finance and Treasurer for Airgas, Inc. (NYSE: ARG), a distributor of industrial gases and welding supplies. Between 1987 and 1990, Mr. Murdoch was Vice President-Corporate Development. During his tenure, Airgas acquired over 200 companies which expanded the industrial gas distribution network from 65 locations in 12 states to over 570 locations in 41 states, Canada and Mexico. Revenues grew from $100 million to over $1.2 billion and Airgas common stock performed in the top 100 of all NYSE stocks every year between 1992 and 1996.
Mr. Murdoch started his career in banking and is a graduate of the University of Pennsylvania’s Wharton School, with majors in Finance and Entrepreneurial Management. He also received an MBA from New York University.
John M. Ryan is President of Devon Hill Ventures, an angel-investing firm focused on early-stage information technology companies. Over the past 17 years John has been an investor and/or an active director in nearly twenty IT companies. Current boards include: eResearchTechnology, Inc. (Nasdaq:NRWE), Neoware Systems, Inc. (Nasdaq:NWRE), IPR International, Inc., and Health Market Science, Inc. Previously, he was the founder of SunGard Data Systems, Inc. and served as its CEO and Chairman through its MBO and IPO until 1988.
RoseAnn B. Rosenthal
RoseAnn B. Rosenthal, President & CEO of Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) since 1996, has 40 years of experience in the economic and financial development of the region. She has led and supported initiatives to stimulate venture capital and angel investment in early-stage companies throughout the region, including support for the formation of the Delaware Valley Venture Group, predecessor to the MAC Alliance. She launched the Penn Venture Fund in the l980’s, which became a model for the investment policies of BFTP/SEP. Her work at BFTP/SEP led to the formation of the Minority Angel Investor Network, and recently the Rittenhouse Ventures Venture Fund, a private fund focused on investments in early-stage IT companies. Rosenthal has significantly enhanced Ben Franklin’s investment and technology commercialization activities, creating initiatives that have brought it national and international recognition. Rosenthal serves on numerous oversight and advisory boards, including the regional advisory board of the National Foundation for Teaching Entrepreneurship (NFTE), and on Boards of Directors including the Fox Chase Bank, where she Chairs their Strategic Initiatives Committee; the World Trade Center of Greater Philadelphia, where she Chairs the Audit Committee; and the America-Israel Chamber of Commerce.