The Colony Fund Team

Advisory Board

Stephen R. Fleming
Space Investor
Consultant, EGL Ventures

Investment Analyst

Mr. Fleming joined Alliance Technology Ventures, an Atlanta-based early-stage venture capital firm, as its second general partner in early 1995. He helped complete fundraising for ATV-I (which closed at $35 million under management), and was instrumental in raising ATV-II ($75 million in 1998) and ATV-III ($150 million in 2000).

While at ATV, Mr. Fleming made 18 investments, of which four led to successful IPOs while six more were acquired. Four were written off. At this writing, four are still private and are moving towards profitability. Mr. Fleming was responsible for investing $51.1M over seven years, returning a top-quartile IRR.

Mr. Fleming's career at ATV included 14 board seats at companies building wireless equipment, telecommunications systems, semiconductors, enterprise software, and Internet services. He also was very active in the Atlanta technology community, where he launched and hosted a startup showcase series for angel and VC investors. He became deeply involved in the state of Georgia's public policy debates concerning high technology, and served on the board of directors for the Georgia Center for Advanced Telecommunications technology. Stephen also continued his close relationship with Georgia Tech, endowing a professorship and serving on advisory boards for the College of Computing, the College of Sciences, and the DuPree College of Management.

Stephen left ATV in early 2002. In 2002 and 2003, he focused on consulting work and personal angel investments, including XCOR Aerospace. He also accepted a part-time position as an advisor to the Advanced Technology Development Center at Georgia Tech.
In the fall of 2003, Mr. Fleming spent a semester of teaching MGT 6165, New Venture Creation, at Georgia Tech.

In January 2004, he officially joined EGL Ventures as their third General Partner responsible for investments in telecommunications and information technology.

In March 2004, Mr. Fleming was invited to testify before the President's Commission on Implementation of United States Space Exploration Policy.

Sam Dinkin, PhD
Space Investor
Chief Economist, Optimal Auctions

Business Analyst

Dr. Dinkin is an auction strategy, design and implementation specialist. As Chief Economist, Dr. Dinkin designs advanced auction software, hosting and consulting offerings and is chief architect for Optimal Auctions' software product offerings. Prior to joining Optimal Auctions, Dinkin was a research staff member at IBM's Watson Research Laboratory where he was the primary investigator for a multi-attribute auction study and developed award-winning intellectual input for IBM's industry leading e-Markets strategy consulting offering. As an auction consultant for the Law & Economics Consulting Group (LECG) and Charles River Associates (CRA), Dinkin led bid strategy for Qualcomm in Brazil, conducted research for the FCC, headed quality control for auction software development projects, and assisted governments in telecommunications and mineral rights auctions.

Dr. Dinkin is also a frequent contributor to The Space Review and other online publications.

Shubber Ali
Space Investor
Founder & Executive Director, Business Development,
AstroVision Australia Ltd
Investment Analyst

Mr. Ali has 12 years of experience in the Aerospace and International Trade sectors. He is the founder of AstroVision Australia Ltd, a company which licensed technology originally developed in the US for commercialisation in the Asia-Pacific region. He successfully sold the company into a small public market shell through a reverse listing, thus creating one of the first public space companies in Australia. While at AstroVision, he has negotiated and closed key deals with CSIRO, Optus Telecommunications (#2 carrier in Australia and part of the SingTel famiily) and Apple Computer. Previously Mr. Ali was Manager of KPMG Space Consulting in Washington, DC., and worked on the strategic planning and financing of numerous commercial and defence satellite ventures, as well as writing the Congressionally mandated ISS Commercialisation Study. He has served as a Director of a publicly traded telecommunications firm, and has previously served on the Board of Directors of the California Space Authority, the Space Frontier Foundation, and the International Business Association of the Greater Los Angeles World Trade Center Association.

John M. Jurist, MD
CRM, Inc.
Space Investor

Business Analyst

Dr. John Jurist is a biophysicist with a long-standing interest in human factors in space flight.
In addition to occasional consulting, John is an investor in XCOR Aerospace, has supported
other start-up activities with grants, and is currently funding certain rocket propulsion projects in the Space Science and Engineering Laboratory at Montana State University and certain avionics projects in the Robotics Laboratory at Santa Clara University. He also writes a periodic column on human factors in space flight (

He earned his undergraduate degree in physics at UCLA and graduate degrees in biophysics
and nuclear medicine while at the UCLA School of Medicine. After postdoctoral training in
the Department of Radiology at the University of Wisconsin, he held faculty positions in the
Division of Orthopedic Surgery and in the Space Science and Engineering Center at that same institution. As a researcher, he led the team that first transmitted medical X-ray images over satellite links in a forerunner of modern telemedicine, studied the effects of weightlessness on bone metabolism, and studied methods of noninvasively evaluating bone strength in humans.

Among other professional associations, John is currently a Life Member of the Aerospace
Medical Association (Space Medicine Branch) and a Fellow of the Clinical Medicine Section
of the Gerontological Society. John was appointed by the Governor of Montana to the Board of Health and Environmental Sciences, founded and ran a research institute at a large medical center, was CEO of an ambulatory surgical center, and has held adjunct or part time
professorships in physics, engineering, and medical sciences in the Montana State University

He presently resides in Billings, Montana.

Alan Chaney
Business Advisor

Mr. Chaney is co-founder of “The Compulsive Creative”, an online store offering books, software and other tools for the highly creative class.

Alan Chaney is also the founder and co-chairman of Internet Pro Video. IPV is one of several successful technology companies Alan has founded in the last 20 years.

Alan co-founded IPV as Telemedia Systems in 1995. IPV was an offshoot of the world-renowned Olivetti Research Laboratories (now AT&T Laboratories Cambridge). Alan joined Olivetti Research Labs in 1989 and became its operational head in 1993.

At IPV, he helped develop the television industry's most-popular and widely used video browsing and editing technology, SpectreView™. SpectreView is a key part of most of the world's television studio video production equipment.

Mr. Chaney studied electronic engineering and is a chartered engineer. He is also a member of the Institute of Electrical Engineers (MIEE).

L.Neil Smith
Policy Strategist

Two-time Prometheus Award-winner L. Neil Smith is the author of 23 books, including “The American Zone”, “Forge of the Elders”, “Pallas”, “The Probability Broach”, “Hope”, and his collection of columns and speeches, “Lever Action”. Renowned for his prominence in the Libertarian movement, of which he has been a part of for more than thirty-five years, he received over 5,000 votes for President, in the State of Arizona in 2000, on a campaign budget of virtually zero. He currently resides in Fort Collins, Colorado, with his wife and daughter, where he is working on his next books, "Ceres" and "Ares".

Brad Edwards, Ph.D
Technology Analyst, VC funding

• B. S. in Physics, Purdue University, West Lafayette, Indiana, 1985
• Ph.D. in Physics, University of Wisconsin, Madison, Wisconsin, 1990, Minors:
computer science, astronomy

From 5/00 – present, Dr. Edwards has been conuducting independent research, leading development of a Space Elevator system under a NIAC grant (Phase I and Phase II). This work covers a broad range of areas from material science and engineering to space physics.
From 8/92 – 3/01, he was part of the Technical Staff at Los Alamos National Laboratory.

His accomplishments included:

• Leading the multi-institutional Europa Ocean Discovery mission development program
• Directed development of the world’s first optical cryocooler.
• Co-Investigator on ALEXIS (a soft x-ray astronomy satellite).
• Development of a superconducting tunnel junction detector research program.
• Development of x- and gamma-ray detectors for space applications.
• Participated in the RULLI(an ultra-low light imaging system) program.
• Conception and development of missions for Lunar Scout, Discovery, and the Artemis lunar lander programs.

His work entailed proposing and managing experiments and development programs, supervising students and post-doctoral fellows, computer programming, hardware development, basic research in several fields and commercialization of technology. His publication credits include over 40 research papers, since 1987. He is presently Chief Technology Officer for HighLift Systems, an R&D firm working towards construction of a viable space elevator.

David Livingston, DBA
Business Planning Analyst

Dr. David Livingston is a business consultant, financial advisor, and strategic planner. For more than twenty-five years, he has worked in oil and gas exploration, real estate development and sales, finance, marketing, and direct advertising and sales. He currently specializes in solving business problems for entrepreneurial operations, start-ups, and businesses with ten or fewer employees, in addition to his writing lecturing, and consulting on commercial space matters.

Dr. Livingston has also served as an adjunct professor in the Graduate School of Business at Golden Gate University teaching Entrepreneurship and Small Business Management. He earned his BA from the University of Arizona, an MBA in International Business Management from Golden Gate University in San Francisco, and his doctorate in business administration (DBA) at Golden Gate. His doctoral dissertation was titled Outer Space Commerce: Its History and Prospects.

Livingston has spoken at or had his papers presented at various international space conferences, including Space and Robotics 98, 2000, and 2002, The Mars Society conferences from 1998 to 2003, the Lunar Development Conference 2000 and 2001, the IAA 2000, the Cato Institute in March 2001, the World Space Conference in Houston in 2002, and the National Space Society Conferences in 2002 and 2003. He has also been a guest lecturer at the Space Studies Department of the University of North Dakota.

His lecture topics include business ethics and corporate responsibility for off-Earth business ventures and New Space Industries, and he has written a Code of Ethics for Off-Earth Commerce. In addition, Dr. Livingston frequently lectures on venture capital financing for new space businesses, RLVs and space tourism, effective business planning, and developing the solutions to the barriers to space enterprise.

Livingston is now the host of the nation’s only talk radio show focusing on increasing space commerce and developing space tourism. The Space Show is broadcast live on the air and can be heard on the internet as well. Past show archives and listening information can be found at

Dr. Livingston has appeared twice as a guest on Art Bell’s Coast to Coast radio program discussing space commerce and tourism, Red FM in Cork, Ireland discussing space tourism, and as a guest on other national talk shows, both on the radio and the internet.

Janet Osimo
Marketing Analyst

With 14 years of marketing experience, Janet Osimo has conducted market research for such notable organizations as NASA/Johnson Space Center, Sun Microsystems, Dell Computer and The Austin Symphony, and medical professionals. Her research focusing on public opinion of the space program has been published on and the National Space Society’s Ad Astra magazine.

The Austin, TX-based market researcher is known for creating communication strategies based on her ability to uncover consumer perceptions and attitudes. Ms. Osimo’s graduate thesis, which concentrated on original research using branding methods to gain support for a Mars mission, was one of 3 that received recognition of more than 900 graduate students. Janet has extensive international and cultural experience, and has traveled and worked in every continent except Antarctica. She has extensive work experience in Latin America, having run successful marketing campaigns and events in Mexico, Colombia, Brazil, Venezuela, Puerto Rico and Chile. Ms. Osimo has a Master of Arts in advertising from the University of Texas at Austin and an undergraduate foundation in psychology and human behavior. She is presently handling the marketing duties for, a firm specializing in communication tools for a multi-cultural workforce.

She attributes her interest in space exploration to her father who worked on project Apollo.

Joseph McGinty
Media Analyst

Director of Broadcast Technology – FCB Corp., Toronto, ONT, Canada

Mr. McGinty brings 18 years’ experience in commercial TV production. He is an experienced team-builder, able to manage a wide and full range of media and advertising talent.

He studied Physics at York University (4 years), and Film at Ryerson Polytechnic (3 years), both in the Toronto area.

Reed Fox
Public Relations Advisor

Mr. Fox has been employed in the publishing field for the better part of the last 20 years. He has held a variety of positions, including photo editor, trade magazine editor, production editor, customer service rep and plant manager at prepress service bureaus. He has been at Consumers Union since 1996, starting as the Production Editor for Consumer Reports magazine. He was responsible for bringing all prepress services in-house in 1998, and became Manager of Publishing Operations in 1999, overseeing production, prepress and publishing technologies. Last year he was promoted to Director of Production Operations. He is currently responsible for the production of all print and digital products at CU, including Consumer Reports monthly magazine, Consumer, two monthly newsletters, approximately 20 full-length annual book titles, and the technology platform in the editorial/production/design area. He was assigned to research and evaluate the potential of implementing an enterprise content management system at CU in 1999; that system was in place and operational by mid-2002.

He also has extensive experience in product and corporate public relations, and managed the public relations campaign for Fuji Film that leveraged their sponsorship of the 1984 Los Angeles Olympic Games to help establish the company's presence in the United States. He has a B.A. in Literature and Creative Writing from the State University of New York at Binghamton, and an M.A. in English and Literature from The University of Chicago. His interest in space goes back to college astronomy courses in 1973-74. He is presently a backyard telescope enthusiast.

Clifford MacMurray
Business Analyst, VC funding

Mr. McMurray received a B.A. in History from Wichita State University in 1978. After working for MetLife Insurance for 21 years as a computer programmer/ systems analyst, he left that company to pursue an M.B.A. in International Business. He graduated the University of Scranton in May, 2001, and has just completed a year of post-graduate study in Germany, as a Fulbright Scholar. Mr. McMurray is a licensed pilot with Commercial, Instrument, Multi-Engine and Seaplane ratings, and more than 1300 hours of flight experience. He has served as a Search and Rescue pilot in the Civil Air Patrol (volunteer USAF auxiliary), where he has also served in numerous staff positions, including Emergency Services Officer for Kansas Wing. Mr. McMurray is also a member of the National Space Society, the British Interplanetary Society, the Space Studies Institute, the Space Frontier Foundation, ProSpace, the Mars Society and the Planetary Society.

A. Louise Oliver
International Securities Law analyst

Although presently in private practice, Ms. Oliver was recently an associate at the U.S. law firm of Debevoise & Plimpton. After starting in the firm’s New York office, she transferred to its London office from 2000 to 2001, where she specialized in telecommunications, IPOs, privatizations, and transactions for private equity clients of the firm. Ms. Oliver graduated magna cum laude from Harvard Law School in 1997. From 1997 to1998, she clerked for the Honorable Douglas H. Ginsburg, a judge on the U.S. Circuit Court (D.C.). Though she now specializes in corporate work, Ms. Oliver is also trained as a litigator. She has submitted an amicus brief to the U.S. Supreme Court and has also written successful briefs to U.S. Circuit and District courts. Ms. Oliver is a 1991 graduate of Harvard College, where she was a John Harvard Scholar.



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