Lawrence W. Lepard
Managing Partner
Larry founded Equity Management Associates, LLC (EMA) in 2006. EMA is an equity investment management firm that invests in growing private and public companies located around the world. Since 2008, EMA has focused on investing in companies which mine the monetary metals, gold and silver. Larry presently serves on the Board of Directors of two development-stage gold mining companies: Lavras Gold Corp. (Toronto/Brazil) and Rise Gold Corp. (California). He has been a frequent guest of many media outlets including Bloomberg Television for his expertise on the monetary metals market. Prior to founding EMA, he spent 13 years at Geocapital Partners (Geo) in Fort Lee, NJ. There, he was one of two Managing General Partners and was responsible for four venture capital funds, aggregating ~$500 million. At Geo, he invested and/or served on the boards of many successful deals including Autoweb, Jackson Hewitt, Netcom, and Realtor.com. Prior to Geo, Larry spent seven years at Summit Partners in Boston, MA and Newport Beach, CA, where he established Summit’s West Coast office. Larry was a General Partner in Summit I and Summit II and invested and/or served on the boards of Chips & Technologies and Software Spectrum, among other investments. Earlier in his career, Larry worked in the Mergers & Acquisitions Group of Smith Barney, Harris Upham & Co.
David A. Foley
Managing Partner
David joined EMA as a Managing Partner in January 2021. Previously, he was a Principal at Covalent Partners, a value-oriented, event-driven investment firm, which he joined in 2007. At Covalent, David sourced, analyzed and executed investments in the equity, debt and distressed securities of various companies. David served on a creditors’ committee in the Chapter 11 restructuring of Energy XXI. In addition, he represented Covalent at various fundraising meetings with endowments, institutions and family offices and helped grow assets under management to a peak of over $850 million. David also served as a panelist and speaker at various investment conferences. From 2004 to 2007, David was a senior analyst at Constitution Research & Management where he was responsible for making growth equity investments across a wide range of industries. From 2001 to 2004, David was an Associate in the Leveraged Finance Group at Goldman, Sachs & Co. At Goldman, he participated on several deal teams that structured bridge loans and underwrote high yield debt in addition to providing strategic advice to clients. From 1997 to 1999, David worked in the leveraged finance area at Schroder & Co. Inc. and prior to that, from 1995 to 1997, he worked at Dean Witter Reynolds Inc. in investment banking.
Education
- Harvard Business School – MBA with Academic Distinction
- Colgate University – BA, cum laude, Economics
Education
- Harvard Business School – MBA
- Providence College – BA, magna cum laude, Economics
Personal
- Competitive CrossFit Masters Athlete
- Former Pilot
Personal
- Served as Chair of the Investment Committee of the Wellesley Education Foundation, as a trustee of The Catholic Schools Foundation and as a member of the Advisory Board of Accuboost, a medical device company serving breast cancer patients.