Ian C. Formigle - President, Clarus Property Ventures, Inc.

Meokng River, Laos, 2006

As CEO and cofounder of Clarus Property Ventures, Ian's primary role is to provide the vision of Clarus by identifying and developing new business opportunities. In addition, as leader of the deal team, he works with the analyst to continuously research new markets and new investment opportunities. Finally, he oversees the performance of Clarus assets and determines financial and investment strategy.

Ian holds a B.A. in economics and a B.A. in political science from the University of California at Berkeley. He developed a thorough understanding of asset markets as an equity options market maker on the Pacific Exchange from 1995-2001, a highlight of which occurred in 1999 when he achieved an approximate net return of 800% on capital with limited risk. Ian has since adapted his analytical expertise in asset markets to the real estate market. Ian also has years of part-time experience in residential construction.

Prior to his tenure at Clarus, Ian co-managed with Tonka Formigle the acquisition, rehabilitation, management and disposition of numerous residential properties in California, beginning with the rehabilitation and condo-conversion of a two-unit building in San Francisco in 1998. Ian also oversees Clarus in its entirety, ensuring that Clarus maintains its track of success and that it remains poised to capitalize upon future opportunities.

Ian enjoys spending time in the outdoors, particularly downhill skiing and cycling. Ian has donated his time in this regard by serving two years on the Board of Directors of Healing Waters, a San Francisco-based nonprofit whose mission is to empower, inspire and enrich the lives of people challenging HIV/AIDS through wilderness adventures. He also enjoys pursuing international travel with his wife Tonka, and he has now trekked through more than twenty different countries. Ian credits four years spent as an oarsman on the UC Berkeley lightweight crew team as an instrumental experience in instilling the discipline, persistence, and dedication to succeed in any endeavor.