First Coverage (formerly iSequent) is a privately-held Canadian company which was founded in 2005 through the combined efforts of financial industry experts and successful technology entrepreneurs.
The foundation of the company is built on the concept of making the financial services industry more accountable and transparent, while also delivering improved communications and work-flows for all involved – sales people, investors, and managers.
First Coverage was founded by Randy Cass, a Canadian hedge fund manager and former institutional portfolio manager, and Colin Webster, a successful technology entrepreneur. Randy had identified two related challenges facing the investment community:
- the need to improve the way the buy-side and sell-side communicated with one another
- the obligation to quantify the value generated by the transactions between the buy-side and the sell-side
First Coverage was created by Colin and Randy to provide a solution to these pressing issues.
In May 2006, First Coverage launched the beta version of its premier products First Coverage Buy-Side Edition and First Coverage Sell-Side Edition. Together, First Coverage Buy-Side and Sell-Side Editions became a web-based portal which investment industry professionals use to initiate relationships, disseminate information, evaluate performance and aggregate ideas through its I.D.E.A. exchange.
First Coverage allows participants on both sides of the street to initiate valuable relationships with each other. It also enables the sell-side to continue disseminating ideas and information to the widest-possible audience, while providing the buy-side with a method of evaluating which individuals and information will add the most value to their investment strategies. Finally, First Coverage aggregates all of the information and ideas being provided to the buy-side.
This creates an invaluable research tool for portfolio managers, but also a means of tracking and quantifying the value of services being provided by the sell-side. Also in May 2006, First Coverage presented to the international venture capital community at the Canadian Venture Forum. As a result, the company received a Victor Award, which recognizes the best investment opportunities as voted for by the members of the venture capital community in attendance at the Forum.
To learn more about First Coverage, please contact us at contact@firstcoverage.com.
Randy Cass, Chief Executive Officer
Roland Beaulieu, President
Todd Verstraten, Chief Technology Officer
Randy Cass
Randy Cass is the Chief Executive Officer of First Coverage. Randy holds an MBA from the Richard Ivey School of Business at the University of Western Ontario, an LL.B from the University of Toronto and is a Chartered Financial Analyst (CFA). Randy's experience includes over four years at the Ontario Teachers' Pension Plan Board, where he created and successfully managed risk arbitrage, hedged income trust and statistical arbitrage portfolios.
Related Information
Roland Beaulieu
Roland Beaulieu is president of First Coverage and brings more than 25 years of experience in the financial services industry the company. Prior to joining First Coverage he was responsible for the daily operations of Corporate Communications Broadcast Network (CCBN), serving as Chief Operating Officer prior to the company's sale to Thomson Financial. He was also the head of CCBN's Institutional Management Group, which successfully launched "StreetEvents," a corporate reporting tool which became the defacto standard of Wall Street institutions.
Before his tenure at CCBN, Roland spent 13 years in a variety of positions at Thomson Financial. He served as President and Chief Executive Officer of the Trading Service Division, and played a key role as Senior Vice President and Chief Operating Officer in building the technology behind Thomson's First Call. Most recently, Roland was an Entrepreneur-in-Residence at GrandBanks Capital and formerly the Chief Executive Officer of NewRiver, Inc.
Todd Verstraten
Todd Verstraten is the Chief Technology Officer of First Coverage. Todd attended the University of Waterloo and brings 25 years of experience in the industry to First Coverage. His experience includes building various finance and mission critical enterprise scale systems to large enterprises such as Motorola, Cummins Engine Co, and Covance.
Jeffrey P. Parker (Chairman), Venture Partner, GrandBanks Capital
John Albright, Managing Partner, J.L. Albright Ventures
Randy Cass, CEO, First Coverage Inc.
Jeffrey M. Hurst, General Partner and Co-founder, Commonwealth Capital Ventures
P. Morgan McCague, Director, First Coverage
Ryan R. Moore, Director, First Coverage
Jeffrey P. Parker (Chairman)
Venture Partner, GrandBanks Capital
Jeff has an extensive history of success as an entrepreneur, CEO and investor in financial services companies over the past twenty years. He brings an operating perspective to the companies in which he invests, as well as a wealth of financial expertise and an extended network of domestic and international business contacts. Jeff was named 2003 New England Entrepreneur of the Year by Ernst & Young in the Financial Services category. Jeff currently serves as an advisor to MedPanel of Boston and is a member of the Board of Directors of Mainstream Data and Vision Research.
Background
In 1980, Jeff founded Technical Data Corporation, a provider of financial analytic services for the institutional investor community. In 1983, he founded First Call Corporation, which quickly became one of the financial community’s leading providers of real-time broker-sourced research, earnings estimates, equity and fixed income ownership information, insider trading information and corporate news releases. In 1986, Jeff sold both these businesses to the Canadian publishing giant International Thomson, now The Thomson Corporation, and became Chairman and CEO of Thomson Financial, its financial services subsidiary. Under Jeff’s leadership, Thomson Financial became the major provider of proprietary financial information to the investment and corporate communities. Thomson Financial currently serves over 75,000 institutional clients worldwide and has annual revenues in excess of $750 million.
After serving as CEO of Thomson Financial, Jeff co-founded 38 Newbury Ventures, a venture capital firm which focused on start-up and early stage companies. While at 38 Newbury Ventures, Jeff and Charley Lax co-invested together in several companies including FAXNET and LimiTrader.
In 1997, Jeff co-founded CCBN.com (Corporate Communications Broadcast Network), a leader in enabling direct communications between public companies and the investment community over the Internet. CCBN.com builds, manages and hosts the investor relations sections of Web sites for more than 2,000 public companies, providing detailed shareholder information through interactive, multi-media solutions. Jeff served as CCBN’s Chairman and CEO until the sale of the company to The Thomson Corporation in March 2004.
Education
Cornell University, Bachelor of Engineering, 1965
Cornell University, Master of Engineering, 1966
Cornell University, MBA, 1970
Jeff is a Trustee Emeritus of Cornell University, where he founded the Parker Center for Investment Research at the Johnson School. An alumnus of Cornell, he earned a Bachelor of Engineering degree in 1965, Master of Engineering degree in 1966 and a Master of Business degree in 1970. He has been recognized as a foremost benefactor of the University, serves on the Johnson Graduate School of Management Advisory Council, is a member of the University’s Executive Committee and is co-chair of the University’s Committee on Alumni Affairs and Development. In 2001, Jeff was inducted into the Johnson Graduate School of Management Hall of Honor, the Johnson School’s highest award, and was also selected as the Cornell University 2001 Entrepreneur of the Year.
Interest
Jeff is an instrument-rated private pilot, as well as an active speaker on entrepreneurship. He is married and has four children.
John Albright
Managing Partner, J.L. Albright Ventures
Prior to the founding of JLA Ventures in 1996, John held senior positions with several private equity and venture capital firms. During his tenure in the private equity and venture capital business John gained extensive experience assisting entrepreneurs and managers to shape their vision and capital plans into successful long-term growth programs which typically involve an aggressive acquisition and financing strategy. John has a history of assisting entrepreneurial companies through significant growth and eventually to the public markets. His ability to work with and advise senior management of investee companies as well as his skills in filling supporting roles where existing management lack the experience or skill set, has been vital to the success of past investments.
John is a Chartered Financial Analyst and received his Bachelor of Business Administration degree from the Schulich School of Business at York University.
John serves as a director of Fun Technologies, Q9 Networks Inc., redCity Search Inc., Nuvo Network Management and is an advisory board member of the North American Venture Capital Association.
Randy Cass
CEO, First Coverage Inc.
Randy is the Chief Executive Officer of First Coverage. Randy holds an MBA from the Richard Ivey School of Business at the University of Western Ontario, an LL.B from the University of Toronto and is a Chartered Financial Analyst (CFA). Randy's experience includes over four years at the Ontario Teachers' Pension Plan Board, where he created and successfully managed risk arbitrage, hedged income trust and statistical arbitrage portfolios.
Jeffrey M. Hurst
General Partner and Co-founder, Commonwealth Capital Ventures
Jeff has more than 20 years of venture capital and private equity experience. He has experience in the communications infrastructure, information technology, and analytical systems industries.
Before co-founding Commonwealth in 1995, Jeff was a senior vice president with GE Capital’s Corporate Finance Group. Jeff previously served as a managing partner of Cox Partners, a private equity firm, after starting his career with Bankers Trust Company.
Jeff earned a BA in History and Economics from Duke University and an MBA from Tulane University. Jeff is also a member of the Trinity College Board of Visitors of Duke University.
P. Morgan McCague
Director, First Coverage
Morgan is a director with First Coverage Inc. as well as numerous other companies in the financial services industry, including Canadian Investors Holdings Corporation, Morguard Investment Corporation, CCB Mortgage Investment Corporation, Pensionfund Energy Resources Ltd., Pengrowth Oil and Gas Ltd., Ventures West Technologies, GCAN Insurance Company and Workers Safety and Insurance Board.
An experienced member of the Canadian financial services community, Morgan was the founding president of the Buy-side Investment Management Association (B.I.M.A.) and currently acts as a director of the Pension Investment Association of Canada (PIAC). He has also served on numerous committees of the Toronto Stock Exchange including acting as the Public Governor of The Toronto Futures Exchange and serving on the “Blue Ribbon Panel” regarding the introduction of the S&P/TSE 60 Index.
A popular speaker and published author, Morgan has held senior positions with many leading companies in the financial services and institutional investment industries and recently retired from the Ontario Teachers’ Pension Plan Board where he most recently held the position of Senior Vice-President of Quantitative Investments.
Ryan R. Moore
Co-Founder and General Partner
Ryan co-founded GrandBanks Capital with Charley Lax and focuses primarily on investments in the wireless technology space as well as the software and software - services markets. Ryan currently serves on the board of directors of GBC portfolio companies Enpocket, First Coverage, GlassHouse Technologies, uLocate Communications and Vivox. Prior to co-founding GBC, Ryan worked with Charley at SOFTBANK Venture Capital (n/k/a Mobius Venture Capital), and SOFTBANK Capital Partners, originally a strategic late-stage investment fund. Previously, he was a Senior Associate focusing on Technology Investment Banking with Robertson Stephens in San Francisco. During his tenure at Robertson Stephens, Ryan worked with a number of technology companies on strategic and financial transactions including E*Trade Group, eBay, Internet Security Systems and WebMD. Ryan earned his AB in Economics from Princeton University.
