Barry B. Conrad

Managing Member

Mr. Conrad co-founded IBC Funds in 2000 and has been instrumental in IBC Funds’ success to date. From 1988 to 1998, he was a Founding and Managing Partner of Conrad/Collins Merchant Banking Group Ltd., a boutique merchant banking firm sponsoring lower-middle-market buyout and recapitalization transactions. From 1983 to 1988, he served as Senior Vice President and Manager of the Corporate Finance Department at Rauscher Pierce Refsnes, Inc., a Dallas-based regional investment bank. From 1974 to 1983, he was CEO of Hart Delta, Inc., a Baton Rouge, Louisiana-based pharmaceutical manufacturing company. Prior to that time, he was a partner at Howard, Weil, Labouisse, Friedrichs & Company and a predecessor company, Viguerie Hayne & Chaffe, Inc., both of which were New Orleans-based regional investment banking firms. In these capacities, he has been involved in a substantial number of public offerings, private placements, mergers, acquisitions, and other investment banking transactions. Mr. Conrad holds an AB degree from Marshall University.

Bill Miltenberger

Managing Member

Mr. Miltenberger rejoined IBC Funds in 2010 where he, as part of the general partner, focuses on sourcing, structuring, analyzing, and negotiating direct junior capital investments into lower-middle market companies. Prior to rejoining IBC Funds, Mr. Miltenberger worked at Highland Capital Management, a $25 billion alternative investment asset manager. He started at Highland in 2006 as Senior Portfolio Analyst and was promoted to Portfolio Manager prior to leaving the firm in 2010. At Highland, Mr. Miltenberger managed investments in a $1 billion portfolio focused on the merchant power industry, where he was responsible for identifying stressed and distressed opportunities for inclusion into the portfolio, monitoring performing and non-performing assets, and participating on steering committees and company restructurings. Mr. Miltenberger’s performance was consistently in excess of the benchmark index returns. In 2002, Mr. Miltenberger joined the team at IBCF for the first time as Senior Associate. Before joining IBCF, Mr. Miltenberger worked at Hibernia Capital Corporation as Venture Capital Officer. Mr. Miltenberger received his MBA from the Kellogg School of Management at Northwestern University with majors in Finance and Strategy and graduated from Loyola University New Orleans with a BBA.

Larry Carter

Managing Member

Mr. Carter joined IBC Funds in 2021, after serving as managing director and principal of three prior SBIC funds with Diamond State Ventures (“DSV”). Throughout his 22 years at DSV, the combined funds invested over $220 million of total capital into 66 portfolio companies. DSV co-invested alongside IBC Funds in a number of portfolio companies over a relationship spanning over 20 years. Mr. Carter is responsible for all aspects of deal management including sourcing, structuring, analyzing, and negotiating direct junior capital investments as well as working with management teams post-closing. His experience includes investment banking with PaineWebber in New York, equity syndications with First Chicago Corp. in Chicago, and deal originations with Bank of America (NationsBank) in Dallas. He has served as President of the Southern Region Board of the Small Business Investor Alliance as well as a National Board Member. Larry graduated from the University of Arkansas in 1987 with a B.S. in Business Administration focusing on the financial management program.

Meg Taylor

Managing Member and Chief Financial Officer

Ms. Taylor joined IBC Funds in 2000 and has been in the private equity and investment banking industry since 1990. Since joining IBC Funds, Ms. Taylor has also assisted in the formation and operation of several other private equity funds. From 1995 to 1999, she was Controller of Hicks, Muse, Tate & Furst Incorporated, a Dallas-based investment firm specializing in leveraged acquisitions and private equity investments. From 1990 to 1994, Ms. Taylor was Assistant Controller of Sunwestern Investment Group, a Dallas-based venture capital company. From 1987 to 1990, she was employed by Ernst & Young in the audit division. Ms. Taylor is a Certified Public Accountant, and has a BBA in Accounting from Texas Tech University.

John Dyar

Vice President

Mr. Dyar joined IBC Funds in 2015 and is responsible for sourcing, structuring, analyzing, and negotiating direct junior capital investments into lower middle market companies.  Prior to joining IBC Funds, Mr. Dyar started his career in the valuation practice of EY’s Transaction Advisory Services division, where he performed valuations of public and private business enterprises, legal entities, intangible assets and preferred and common equity interests. His primary focus was performing mark to market valuations for private equity clients in the upstream oil and gas sector. Mr. Dyar received his BBA in both Finance and Economics from Southern Methodist University in December 2011.

Tyler Bozynski

Vice President

Mr. Bozynski joined IBC Funds in 2021 after previously investing out of two prior SBIC funds with Diamond State Ventures, which co-invested with IBC Funds in a number of portfolio companies over a relationship spanning over 20 years. Prior to IBC Funds, he joined Diamond State Ventures for the second time in 2014 after serving as an associate with the firm from 2006 to 2008. Previous experience includes investment banking, equity research, and wealth management roles at Stephens Inc., an investment bank headquartered in Little Rock, Arkansas. In addition to sourcing, structuring, analyzing, and negotiating direct junior capital investments into lower middle market companies, Mr. Bozynski’s responsibilities include overseeing many of the firm’s finance and administrative operations for Diamond State Ventures legacy portfolio, including portfolio management, financial reporting and regulatory compliance. Mr. Bozynski received a B.S. in Business Administration with a double major in Finance and Marketing from the University of Arkansas in 2004.

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