Ray Mathieu Email & Phone Number

The Business Development Company provides capital to companies experiencing difficulty obtaining all the funding they need from traditional sources. Since 1953 we have helped our portfolio companies become stronger marketplace competitors, thereby creating and retaining jobs in Rhode Island and in nearby Massachusetts and Connecticut.The Executive Committee approves and monitors the investments in the BDCRI portfolio companies.www.bdcri.com

Providence, Rhode Island, Us

Angel Investor Groupwww.cherrystoneangelgroup.com

Providence, Rhode Island, Us

Early stage manufacturer and distributor of Premama Fertility, Pre-Natal and Lactation Vitamin Supplements.Successfully raised Series A, B, C, and D Rounds. In October, 2024, we completed the sale of Premama to Dr. Reddy’s Laboratories (NYSE), a global pharmaceutical company headquartered in India.

Providence, Rhode Island, Us

Finances and counsels life science, info technology and clean energy startup enterprises committed to basing and building businesses in Rhode Island. www.slaterfund.com

Kingston, Ri, Us

The URI Foundation manages the University’s endowment portfolio which typically generates a significant level of support each year, providing vital scholarship, faculty, and program funding.www.urifoundation.org

Having joined InsureMyTrip.com (IMT) with the goal of helping to sell the company, I was also responsible for the financial management of the entire firm including the accounting, tax, treasury, legal, financial reporting and budgeting, financial forecasting, product profitability analysis, multi-state payroll, risk management & insurance functions as well as banking relationships. On 12/31/2019, IMT was acquired by a wholly owned subsidiary of the publicly traded global financial services company, Tokio Marine. We actually sold IMT for a price greater than our targeted sales price! As envisioned, I remained IMT's CFO during the conversion of IMT’s financial systems (QuickBooks into PeopleSoft, etc.) into those of our new parent and the transfer of all my responsibilities to Houston. During this time, I also worked closely with our new parent’s Senior Management in formulating a strategy for expanding into Canada including a four-year budget for the project. By November 2020, I had, as anticipated, effectively worked myself out of a job, and, as I had recommended, my position as CFO was eliminated. Mission accomplished!

North Kingstown, Ri, Us

Delivers premium, affordable, high speed broadband telecommunications, IP networking, and Above the Net services to public and private educational institutions (K - 12, colleges, universities, etc.); state and municipal governmental agencies, departments, school systems; public and private libraries; hospitals and other health care organizations; and other public institutions. Also trains teachers, educators, librarians, and school administrators on how to best use the Internet to enhance education.www.oshean.org

Providence, Ri, Us

Responsible for financial management of 13 Funds (PE, FI, Distressed Debt) totaling more than $23B, incl. budgeting, accounting, internal & external financial reporting, capital calls, distributions, taxes, & P/Rs. As Fund sizes increased from $75M to $12B, grew the accounting dept. to over 50 people to handle Funds with hundreds of investors as well as five management companies with payrolls of 225 EEs in 6 offices in 4 countries. Responsible for corporate wide risk & insurance management. Also had responsibility for facilities management, IR, IT, & HR. Worked with IT & Compliance Dept. to develop a company-wide global Business Continuity Plan for all locations.•Hired as CFO & Treasurer to transition Narragansett Capital (predecessor of Providence Equity (PEP)) from a $120M publicly held RICO to a privately held PE firm, as well as to establish the accounting for new $215M PE Fund. •Oversaw accounting for & tax structuring of the purchase/sale of over 100 portfolio companies, including take privates, LBOs & IPOs. •Prepared portfolio company valuations for & participated in semi-annual meetings of the Funds’ Advisory Committees. Actively involved in tax & legal structuring of Funds.•Negotiated multiple leases in Providence, New York, & London and successfully managed several office expansions & relocations, including new buildout of 35,000 sq. ft. PEP headquarters.•Developed proposals & managed legal work to trademark “Providence Equity” world wide.•Twice reorganized structure of U.K. Management Company to take advantage of changing U.K. laws. Led the necessary legal & tax work to register PEP as an investment advisor with the FSA in U.K. •Established $3B margin account debt facility with CSFB for newly formed Distressed Debt & FI Funds.•Recognized by one of the largest private equity LPs in N.A. as having one of the best investor reporting systems in the industry. This LP recommended our approach to report preparation to other PE Funds.www.provequity.com

Publicly-held bank holding company with banks in Rhode Island and North Carolina, & nationwide non-bank subsidiaries including mortgage banking, commercial real estate development investment, & college tuition payment management.Responsible for short-term & long-term planning, taxes, all payrolls nationwide, internal & external financial reporting for the banks, bank profit centers and non-bank subsidiaries as well as consolidated reporting, SEC & bank regulatory reporting & compliance, & shareholder reporting. Managed staff of 20.• Created and built Regulatory Reporting group to address inherited issues with meeting quarterly SEC reporting deadlines. Quickly improved SEC reporting to such a level that the SEC invited Old Stone to be one of the first reporters to switch to paperless reporting under their then new EDGAR system, which was also accomplished.• Worked with the CFO & Treasurer on the successful acquisition & integration of RI Federal Savings into Old Stone, as well as with Goldman Sachs, on both the successful IPO of Old Stone & secondary public offering. Actively involved with assimilation of newly acquired in-state and out-of-state banks into Old Stone.• Established Corporate Planning department to expand & improve the corporate-wide annual budgeting process and the five-year strategic planning process. Also built a Corporate Subsidiary Reporting department to expand and improve the monthly financial reporting packages of the non-RI Bank subsidiaries.• Worked with bank department heads to significantly improve & expand profit center and branch P&L reporting. Developed P&L reporting packages for corporate senior management & corporate Board of Directors, in partnership with non-bank subsidiary Presidents.

Promoted to CFO of acquired entity, Bankers Mortgage, following work as part of the acquisition team that led the acquisition analysis and due diligence and closed the deal. Relocated to South Carolina where 300+ person operation center was located. Responsible for accounting, planning, auditing, purchasing, property management, human resources including nationwide payrolls, and investor accounting and reporting. Managed staff of 70 people.Worked on successful integration of Bankers Mortgage with Fleet’s mortgage company in Milwaukee, WI.

Promoted to Controller of Fleet National Bank, which at the time was the largest bank in RI and 8th largest in New England. Responsible for accounting, regulatory reporting, internal profit center reporting, and cost accounting functions for the bank as well as the monthly preparation of the financial statements and BoD financial reporting packages for the bank & non-bank affiliates (factoring, leasing, mortgage banking companies, etc.), and the payroll functions for all of Fleet’s subsidiaries worldwide. I also continued to liaise with Mortgage Associates. During my tenure, also given responsibility for corporate-wide risk and insurance management, corporate accounting for parent holding company, and corporate consolidated financials statements. Prepared and presented monthly financial reports to the Board of Directors. Represented Fleet Bank in the Rhode Island Bankers Association.Direct reports included the controllers of Westminster Properties (nationwide commercial RE investment company), Information Sciences (Fleet’s data processing company), and International Appraisal Company (6th largest commercial real estate and business appraisal firm in the U.S.). Dotted line reports included Vice Presidents of Fleet Bank’s International Loan Operations, Money Management Operations and Operations of Edge Act Bank in NYC.

Fleet made its initial foray into mortgage banking through the acquisition of the publicly-traded Mortgage Associates, Inc., the 15th largest mortgage banker in the US with offices throughout the Mid-West and Southeast. I was elected to serve as Controller and spent 21 months at their headquarters in Milwaukee learning the mortgage banking business and bringing them into the Fleet family. Successfully handled their federal tax audit.I was responsible for accounting, taxes, nationwide payrolls, financial reporting and budgeting.

Fleet’s commercial real estate development investment company that held investments in 33 commercial real estate partnerships owning properties throughout the US. Westminster Properties was also the Investment Advisor to Realty Income Trust, a non-affiliated publicly traded REIT, which was one of the oldest REITs in the US.I was responsible for accounting, taxes, nationwide payrolls, financial reporting and budgeting.

M.B.A., Accounting

Bachelor’S Degree, Business Administration

High School, College/University Preparatory And Advanced High School/Secondary Diploma Program