Denning Advisors

Philip M. Bilden


Philip Bilden is a Co-Founding Member of HarbourVest Partners, LLC, a leading Global Private Equity Investment Management Firm with institutional assets under management currently in excess of $40 billion. Mr. Bilden joined the firm in Boston in 1991 and relocated to Hong Kong in 1996 to establish the firm’s Asian presence as a pioneering investor in the region.

Mr. Bilden established HarbourVest Partners (Asia) Limited which he led as Managing Director for 15 years. Based in Hong Kong, he was responsible for the firm’s investment strategy and execution, capital raising, and client service activities throughout the Asia Pacific region, managing personnel and partnerships in multiple countries and cultures.

Throughout his 25 year tenure, Mr. Bilden has served in senior leadership roles in the firm’s global management, including the firm’s four person Executive Committee responsible for governance. He became a Senior Advisor in 2011 and retired from HarbourVest in 2016.

Mr. Bilden served on the advisory boards of numerous international private equity partnerships throughout Asia, Africa, and Latin America, including funds managed by Archer Capital, Bain Capital Asia, Brait Capital Partners, Castle Harlan Australian Mezzanine Partners (CHAMP), KKR Asia, Olympus Capital, Pacific Equity Partners, TPG Asia, and Unitas Capital.

He served as the inaugural Chairman of the Asia Advisory Council for the Emerging Markets Private Equity Association (2011-2012). He received the AVCJ Lifetime Achievement Award in 2011 for his contribution to the formation of the Asian Private Equity industry.

Mr. Bilden presently serves on the Board of Directors of Huntington Ingalls Industries (NYSE: HII); the Chief of Naval Operations Executive Panel, U.S. Navy; the Board of Directors of the United States Naval Academy Foundation; the Board of Directors of the U.S. Naval Institute; the Board of Trustees and Executive Committee of the Naval War College Foundation as Vice Chairman and as the inaugural Chairman of the Center for NWCF Cyber Conflict Studies Task Force; the Asia Pacific Advisory Board and Deans’s Board of Advisors of Harvard Business School; and the Board of Visitors of Georgetown University’s School of Foreign Service.

Mr. Bilden graduated with a BS in Foreign Service (magna cum laude) in 1986 from Georgetown University. He received his MBA from Harvard Business School in 1991.

David A. Haynes


David is an Advisory Board Member of the Firm. David is currently Administrative Partner at FTVentures, a Private Equity firm providing venture through late stage growth capital to software and business services companies. David brings over 25 years of experience as an Executive, Director, and General Counsel, with particular focus on building growth companies.

Prior to FTVentures, David advised financial services and technology firms, offering board and executive management expertise in the areas of Business Development, Corporate Finance, and Corporate Governance. Between 1999 and 2001, David was Executive Vice President and General Counsel of OffRoad,Inc., a pioneering business offering private securities over the internet. Prior to that, he was Executive Vice President and General Counsel at Examen Inc., a national legal resource management company. David was with Montgomery Securities during a 10 years period of its rapid growth , with primary responsibilities for legal affairs in Corporate Finance, Venture Capital, Asset Management, and new Business Development. His private legal practice experience was with Brobeck, Phleger & Harrison in Palo Alto and San Francisco.

David received a JD from the Boalt Hall School of Law, an MBA from the Haas Graduate School of Business, and a BS in Mechanical Engineering, all from the University of California, Berkeley.

Dorri C. McWhorter, CPA


Dorri McWhorter became the CEO of the YWCA Metropolitan Chicago in March 2013. She has embarked upon a journey to transform the 140 year old social service agency to a 21st century social enterprise. Dorri is moving the agency into the digital age by re-launching the TechGYRLS program, which focuses on developing STEM awareness for girls ages 9 through 14 and introducing 3D: Developing Digital Diversity, which provides web and mobile application development training to adult women. Dorri has also led the YWCA’s expansion of digital services with the launch of (e-commerce platform), (health insurance and information) and the MPWR mobile app (community engagement). Dorri was included in the inaugural list of “The Blue Network,” comprised of the top 100 innovators in Chicago, by Chicago Tribune’s Blue Sky Innovation and recognized by Good City Chicago receiving its Innovative Leader Award. Dorri lead the process for the YWCA to develop an exchange traded fund (ETF) for women’s empowerment (NYSE: WOMN) in partnership with Impact Shares, which is the first non-profit investment advisor to develop an ETF product.

A proven leader in the corporate and social change sectors, Dorri prides herself on being a socially-conscious business leader throughout her career. McWhorter is an active member of Chicago’s civic, business and philanthropic communities. Most recently, she was a partner at Crowe Horwath LLP, one of the largest accounting firms in the U.S. She has also held senior positions with Snap-on Incorporated and Booz Allen Hamilton. Dorri is also active in the accounting profession having served as a member of the Board of Directors of the American Institute of Certified Public Accountants (AICPA) and a Board of Directors for the Illinois CPA Society. McWhorter also serves on the Board of Directors for several organizations, including The Metropolitan Club, Chicago Finance Exchange, and Chicago Child Care Society. McWhorter is also a member of the Executive Council of Ms. Tech advancing women businesses in technology and a board member of the Chicago Center for Arts and Technology. As an engaged community leader, McWhorter served as a member of Mayor Emanuel’s second term transition team. She is also a board member for the State of Illinois Charitable Trust. McWhorter received a Bachelor of Business Administration degree from the University of Wisconsin-Madison and a Master of Business Administration degree from Northwestern University’s KelloggSchool of Management.

YWCA Metropolitan Chicago
Founded in 1876, YWCA Metropolitan Chicago is a social enterprise committed to eliminating racism, empowering women, and advocating for gender equity and inclusion through pursuit of three empowerment priorities:
• Safety and Wellness;
• Quality Education and Training; and
• Economic Sustainability

As a leading association of YWCA USA, YWCA Metropolitan Chicago impacts over 200,000 women and families annually through holistic programs in and around Chicago as well as online initiatives available to women across the country including the #NotThatComplicated ( pay equity initiative; Women’s Health Exchange (,YShop ( e-commerce platform, and Myrtle’s Club ( childcare provider purchasing club.

YWCA Metropolitan Chicago is a recipient of the charitable gifts generated by the advisory fees related to the Impact Shares YWCA Women’s Empowerment Exchange Traded Fund (NYSE: WOMN). The organization advises on the development and implementation of the social screens related to women’s empowerment however are not involved in the day-to-day operation of the fund or in security selection.

Located in the third-largest City with the third-highest percentage of women in the U.S., YWCA Metropolitan Chicago serves as a national incubator for innovative programming, outreach and engagement in a diverse racial, economic and education environment. The organization also is an active member of many national, state, county and city-level coalitions, representing the interests of and advocating for policies that positively impact women and families.