About
Our team is comprised of experienced executives in capital markets, funds management, and addiction recovery industries. We have identified ways for employers to hire and support recovering addicts, and believe in the power of mobilizing capital to drive social change.
Delilah Panio – Executive Director
Combining an expertise in finance with a personal goal of social change, Delilah Panio is the new Executive Director for The 12 Angels Fund. Delilah is a capital markets expert with over a decade of experience including 10 years with the Toronto Stock Exchange in market and business development. Delilah consults with market operators and companies looking to raise private and public capital. Delilah has also dedicated time and effort in the non-profit area of social finance, as a previous board member Access Community Capital Fund, a Toronto microfinance loan fund, and as a board advisor to the Social Venture Exchange, a startup financial platform for non-profits and social purpose businesses inOntario. Delilah has an MBA (Enterprise Development) and a BA (English) and recently moved from Toronto to Los Angeles.
Alex Shohet – Founder and Board Member
Alex Shohet is the entrepreneur who started the 12 Angels organization based on his personal experiences as a recovering drug addict. Alex and his wife Bernadine Fried, MFT founded Wonderland Center an internationally recognized drug and alcohol treatment center in Los Angeles. Alex and Bernie currently own and run ONE80 Center, another leader in treatment centers. ONE80 is a triple bottom line organization that serves three stakeholders our clients, our team and the environment. ONE 80 employs approximately 50 recovering addicts and provides education, job training and above market salaries. ONE80 is pioneering many new services and treatments to improve recovery outcomes and reduce the time clients stay in treatment. Over the last 15 years, Mr. Shohet previously founded and privately sold two technology companies Computer Physicians and Sandbox Technologies. In 2002, Mr. Shohet sold his software application Media Taxi™, a B2B ASP based digital asset management and distribution system used by several major entertainment companies to Sonic Foundry (NASDAQ: sofo).
Michael Dalsin – Chair of the Board
Mr. Dalsin has been a Managing Director of Stanmore Capital, a healthcare services specialized investment firm, since 2002. Mr. Dalsin is the Founder and Chairman of PHM a healthcare services company listed on the Toronto Stock Exchange. He has developed market strategies to improve financial outcomes for referring physicians from the sleep diagnostics industry to pathology laboratories to specialty plasma collection centers. Previous to Stanmore, Mr. Dalsin worked in international investment banking with Morgan Stanley Managing Director’s funds in London, Hong Kong and New York. He has participated as a lead banker and negotiator for a number of small and medium market ($25M to $100M) international acquisitions for both American and English companies. Mr. Dalsin holds an economics degree from University of Wisconsin – Madison.
Dave Costine – Board Member
Mr. Costine is currently the Managing Partner of Costine Partners LLC, an investment banking and venture advisory firm he founded in 2005. Prior to that time he was a General Partner of SC Capital Partners, LLC, anOrangeCountyboutique investment banking and M&A firm he co-founded in 2002. From 1988 to 2003, Mr. Costine was the Managing General Partner of Corporate Venture Partners, L.P., a $77 million venture capital fund he founded. Investors included Corning Inc, the NY State Employees Retirement Fund, Chase Manhattan Bank,CornellUniversity, and Niagara Mohawk Power Corporation. During the life of the fund, the General Partner invested in 15 early stage companies, eight of which became public on NASDAQ. Prior to 1988, Mr. Costine was an officer of Venturtech Capital, LP, a venture capital fund with offices inOrange County,CA, andNew Jersey. From 1970 to 1980, he was on Wall Street with Donaldson,Lufkin, and Jenrette and New Court Securities. Mr. Costine recently served on the Investment Board of the New York State Small Business Technology Fund and is currently a member of the Board of Trustees of the Cornell University Foundation. Mr. Costine has a degree in Mechanical Engineering fromCornellUniversityand an MBA from Harvard University.
Legal counsel provided by Buchanan Ingersoll & Rooney (www.bipc.com)
Our partners include organizations that provide the critical health and well being services within the recovery community.
Our History: The concept behind the 12 Angels Evergreen Fund began in 2004 in a recovery house in Los Angeles, California. The treatment center provided exceptional care and support of the Addicts while in treatment but did not have enough resources to support Addicts on their reentry into the community. As a result many Addicts relapsed returned to treatment, ended up in jail or died. We believe we can increase the percentage of addicts and alcoholics that make it into recovery through social entrepreneurship.