Wellspring FV LLC was founded in April, 1999 by Michael Shoemaker & Roy Smith.
Shoemaker has specialized in technology management and investment capitalization for nearly 20 years. He was founder of Wellspring FV’s predecessor, Wellspring Partners, Limited. Wellspring Partners was an investment/merchant banking firm specializing in joint ventures, strategic partnerships, technology transfer, mergers, acquisitions and investment capitalization of technology based businesses.
Prior to founding Wellspring, Shoemaker served as founder and Chief Executive Officer of Falcon Enterprises, Inc., an electronics manufacturing services company specializing in military and high reliability commercial surface mount technology, where his microelectronics manufacturing techniques brought him national recognition. He has served as Director of Manufacturing for Laser Communications, Inc., a venture capital-backed free air laser communications company in Lancaster, Pennsylvania.
Shoemaker helped found and runs the Lancaster Angel Network, that has made more than $5 million in investments in early stage companies since its beginning in January 2000. Shoemaker was recently the President of the Ben Franklin Venture Investment Forum of Central PA and is a member of the mentor's committee, prescreening and counseling presenters for this organization. He has served as Secretary and member of the Board of Directors of the Technology Council of Central PA. He previously served as on the board of directors of the Ben Franklin Technology Partnership and as president of the Philadelphia Chapter of the Surface Mount Technology Association for two years, and as its Membership Committee Chair for one year. He is also an active member in various other nonprofit organizations throughout the central Pennsylvania region.
Roy Smith specializes in helping high technology companies find products, messages, and markets that build success. The craft is managing perceptions of the press, the market, employees, competitors and most importantly prospective and existing customers.
Smith was co-founder and president of Turtle Beach Systems, a leading developer of sound cards and sound editing software for personal computers. He managed the growth of Turtle Beach from inception in 1985 to $15M in annual sales and 65 employees in 1995. He negotiated and managed venture capital equity investments and also the $7M acquisition of Turtle Beach Systems by publicly-traded Integrated Circuit Systems in 1993.
While at Turtle Beach, he developed techniques for managing the image of the company through products, press, and other customer contacts. He was responsible for the marketing and positioning vision that fostered Turtle Beach’s sterling reputation in the industry. He is experienced at partnering with large companies, with relationships including IBM, Microsoft, Motorola, AMP, ZEOS, IPC.
Smith has participated in the PC industry since 1979 as an engineer, developer, marketer, and manager. Since leaving Turtle Beach in 1995, Smith has participated in three startup companies as investor and board member.