Vermont Works announces new leadership to bolster innovation, job growth

Vermont Works Management Company LLC, a new investment firm planning to invest millions of dollars in Vermont companies, recently announced two leadership appointments to its team.

South Hero attorney Mark Naud will become the executive director of the firm’s Vermont Innovation Commons, a planned purpose-built co-living/working space in downtown Burlington.

Elisabeth Robert, the CEO of Terry Bicycles and the former CEO of Vermont Teddy Bear, has joined the firm’s board of directors.

Naud will join Vermont Works in August. His role will be championing the development of a new real estate project to house a business accelerator with education, co-working and co-living spaces; and providing facilities, services, and guidance to nurture startup and growth companies with sustainable business practices.

In addition to his environmental law practice, Naud also recently served as the executive director at the Lake Champlain Community Sailing Center.

“I am looking forward to working with the best business minds in Vermont and elsewhere to foster increased innovative thinking right here at home,” Naud said in a press release. “The combination of sustainable business practices and the innovative spirit of Vermonters is a powerful asset, and I am eager to help our entrepreneurs find new avenues towards success.”

Robert brings considerable leadership and community experience to the company’s board of directors. In addition to her business achievements at Terry Bicycles, Vermont Teddy Bear, she is a member of the Middlebury College Board of Trustees, where she currently chairs the Vermont Relations Committee.

“I think it is so important in Vermont’s lethargic economic environment to see another serious, fundable capital resource for Vermont’s developing businesses to emerge from the private sector,” she said. “Not only will Vermont Works provide capital, but the model also includes an operational support component. This is where I can fit in. I hope to bring my hands-on experience managing very different Vermont businesses to contribute individualized marketing, operations and financial insights, strategies and discipline to our partner companies from start-ups to growth-stage enterprises.”

Robert will be the Vermont entrepreneurship director on the firm’s board.

Vermont Works Management Company LLC is an independent alternative investment firm focusing on delivering both competitive financial returns and social impact in support of Vermont’s job and enterprise development. For more information, visit