All Eyes on Jonathon Perrelli and Fortify

So there's this guy in town (DC) who likes to play dress up. While all the other kids were playing Cowboys and Native Americans, this guy dressed up like he was a Venture Capitalist.  I'm talking about Jonathon Perrelli and Fortify. Back in the day, he played big venture capitalist boy. Today, all the other kids are playing astronaut, but little Jon is playing big-time CEO of a hot, water-bottle startup (not hot water but a hot startup and regular water). Nine years ago, there were some people in town who gave little Jonny P, real money which he spread around DCTech like cash was apple seeds and little Jon was Jonny Appleseed. Dressed up like a VC, he indiscriminately spread the cash randomly with no thesis, strategy or plan, throwing some here and there. Ninety percent of JP's investments were or are dogs. But just like a blind squirrel...

Andy Powers – Friend of Danny Boice & Fellow Criminal

On March 16, 2018, the Commonwealth of Virginia's State Corporation Commision (SCC) filed against Andrew Brent Powers (AKA Andy Powers) and his company Comunniclique (DBA CliqueAPI) alleging multiple violations of the Virginia Securities Act. On July 13 of that year, the courts found Andy Powers guilty of 108 violations of the Act. Powers was also was found guilty of failing to respond to a subpoena.  That basically means he's on the run and did not appear to defend himself. Originally CliqueAPI and Powers mounted an aggressive defense and then in April, Power's Attornies, The Aegis Law Group, filed (see filing) that they were withdrawing from counsel on this case. Did Powers run out of money to pay for representation or were his attorney's alarmed that he was not acting in good faith? It seems like from that time, Andy was non-responsive to the case. According to court records, Tom Bayly, a senior investigator with the SCC, Division of Securities and Retail Franchising testified that the Division received a complaint in the fall of 2016 from the accountant of one of  CommuniClique's (AKA Clique and Clique API) investors regarding several irregularities. Subsequent investigations found that Powers was reporting to prospective and existing investors in CommuniClique, that...

The Danny Boice CollegeBoard Manifesto – @DannyBoice

Why was Danny Boice, CEO and Founder, of Trustify fired from College Board? For the same reason, he was fired from Speek, a company he c0-founded and helped tank due to his theiving. Because he's an embezzler, liar, fraud and cheat. Here is a copy of an email blast that was sent to a large mailing list of executives and employees of The College Board on February 8th, 2012. This document is just one document in a large dump of documents I received from a source. Four of my sources have validated the existence of this email. As I go through the other documents I received and verify their voracity I will publish them. The email, alleges multiple offenses perpetrated against The College Board by Danny Boice. Multiple sources have verified the email to be factual. It alleges many criminal acts of the disgraced former College Board Executive Director, Danny Boice. It also puts into question of the ownership of Speek Assets. Did the College Board own the assets of Speek? According to the document, Danny Boice's crimes include: He lied on his CV to get the job He pursued multiple outside business ventures using company assets, and on company time He charged outside...

Startup Funding: Who To Blame for the Lack of #DCTech Cash?

Who should we blame for the lack of startup funding in DC? Angel Investors - Let's blame the Angel Investors! Why aren't people like Mr Cranky investing in startups anymore? After all, wasn't Glen Hellman the #1 Angel Investor in the United States according to Tech Cocktail (tech.co) readers? Actually, no he wasn't and he, who is I, never was the #1 angel anywhere. He who is I, is (or am) also no longer an Angel Investor and the rest of this article describes why. Venture Capitalists - Let's blame the lack of startup funding on all the VC's who just don't "get it." Which isn't true if "it" is not understanding the value of a groovy app like Sick Weather. There is no it to get with apps like Trustify and Sick Weather.  The it that VCs do get however is the actually it that is the problem.  The it that is keeping them from actively investing in this region is that too few its have proven themselves to be worth it in DC as of late. That's why there used to be over 40 active VC's in this town and now there's only 4 or 5 or 6. The Government...

The Fort - Jonathon Perrelli Fortify VC

Jonathon Perrelli Fortify VC Part 2

Jonathon Perrelli and Fortify VC Part 2 (see part 1) It was April 23rd and I had just posted an article about questionable startup investors titled, Pretangel Alert – Beware Fake VCs And Angels. That post was a warning for founders to be on the lookout for faux investors that pretend to be interested in investing with the true intention of garnering paid consulting engagements. In this post I non-derogatorily mentioned a couple of Investment Funds, including Fortify that were in a Zombie state...

The Fort - Jonathon Perrelli Fortify VC

Jonathon Perrelli Fortify VC Part 1

Meet Jonathon Perrelli Fortify VC I first met Jonathon Perrelli (commonly referred to as JP) in late 2011 at a Founders Institute (FI) graduation. Twelve companies graduated and pitched that day. After many of the pitches, JP provided, what seemed to me at the time, expert commentary. He was electrifying, funny, talked about all the big things he had done in the past -- his friendship with Sean Parker (as in -- you know what’s really cool, a billion dollars -- played by Justin Timberlake in the Social Network Sean Parker… that guy), his connections with 500 Startups and other big Silicon Valley icons. So I approached JP, introduced myself, and talked for a while. I was impressed. He told me about his fund, Fortify.VC and why it was like bringing Silicon Valley to DC. We both liked one of the companies that pitched, HugeFan. In my excitement to do a deal with this guy (who I mistakenly assumed was a sophisticated investor)…. I decided to place a bet on HugeFan and that I’d rely on this “professional” to do the due diligence. JP went on to invest in two of the companies presenting that day, HugeFan and Feastie.  I put $25,000...