People 11-26-01

• Reid Miles has signed on as a managing director and partner with Washington-based BV Group Ventures LLC. He will assume his new post in the beginning of December. Miles comes to BV Group from Blue Water Capital, a Virginia-based venture fund, where he was a founder and managing director. At BV Group, Miles will define and implement a complete business strategy for the firmís venture investments, as well as direct its venture capital team.

• Argeris "Jerry" Karabelas has joined Care Capital LLC, an investment firm focusing on the life sciences field, as a partner. The former head of healthcare and chief executive of Worldwide Pharmaceuticals for Novartis AG, Karabelas was responsible for Novartis Pharma, Ciba Vision and Generics, which represented $12 billion in combined annual sales. Prior to joining Novartis, Karabelas was an executive vice president with SmithKline Beecham. In that role, he was responsible for US and European operations, regulatory affairs and strategic marketing.

• Michael Greeley has been named a managing general partner at IDG Ventures, a global venture capital and private equity firm. The firm has also announced that it has opened an office in Boston. Formerly of Polaris Venture Partners, Greeley will help the firm pursue new investment opportunities on the East Coast. Previously, Greeley focused on both early- and late-stage investments. In addition to its new Boston shop, IDG Ventures has offices in San Francisco, Seattle, London and Beijing.

• George Stamas, the former corporate lawyer who led Deutsche Banc Alex. Brownís foray into Northern Virginia investment banking, is leaving the firm to pursue a private equity career. Baltimore-based New Enterprise Associates plans to bring Stamas on board as a venture partner starting Jan. 1. Stamas will be based at the firmís offices in Reston, Va.

• Dr. Edward Penhoet, a partner at Alta Partners, has been elected to the Institute of Medicine. Prior to joining Alta Partners, Penhoet co-founded Chiron Corp.