Dennis Townsend

Dennis Townsend, Chairman of the Board of Directors

Dennis Townsend founded Townsend Capital, LLC in 1975, after beginning his investment career at Thomson McKinnon Securities, Inc., where he was one of the pioneers in the newly emerging field of tax-advantaged investments.


Because of his tax expertise, he frequently advised tax attorneys and accountants on the analysis and structuring of these partnerships. Relying on his ability to understand the market, Mr. Townsend has guided Townsend Capital as it evolved from a registered securities broker dealer and investment advisory firm to a company that invests primarily for its own account. From purchasing empty buildings in Texas, to long-term net leases to credit tenants, to sale-leaseback transactions, to build-to-suit developments, to building laboratory research facilities for major universities, he has established lasting relationships with such clients as AT&T, Lucent Technologies, Tyco and the University of Pennsylvania.

In late 2006, Mr. Townsend predicted that the real estate industry was near its peak and set a course to divest the majority of its real estate holdings. With the sale of its primary real estate portfolio in 2007, Townsend turned its focus to various opportunities with the energy field, and formed Townsend Ventures. These new ventures included the acquisition of Encelium Technologies, a lighting controls company focused on delivering energy savings to commercial properties, and significant investments in Kokam Co., Ltd., Dow Kokam, LLC and Kokam America, Inc. (now KA Remainder), as well as domestic oil and natural gas exploration.

Mr. Townsend attended Johns Hopkins University and was a member of the staff that coached the lacrosse team to five NCAA championships. An avid golfer, he is also the founder of Hamilton Farm Golf Club in Gladstone, New Jersey.

Richard Cundiff

Richard Cundiff, Vice Chairman of the Board

Mr. Cundiff joined Townsend Capital in 2004, bringing with him nearly a quarter century of investment banking experience in the financing and capitalization of projects and companies.

Early in 2009 he was named Chief Operating Officer of Townsend Capital, the operating company for most of the company’s investments and activities.

Mr. Cundiff has extensive experience in raising most forms of investment capital, including private and public debt and mortgages, common and preferred equity and mezzanine financing.


As Managing Director of the Cleveland-based investment banking and investment firm, McDonald Investments Inc., a KeyCorp. Subsidiary, he founded the firm's tax credit practice, raising hundreds of millions of dollars from corporations to invest in tax oriented transactions including IRC. Sec. 42 Affordable Housing, IRC Sec. 29 Alternative Fuels and IRC Sec. 47 Historic Rehabilitation tax credits.

While at McDonald, he was integral in advising the firm's Real Estate Investment Trust (REIT) clients on initial public offerings, secondary offerings, preferred stock issuance and corporate and mortgage debt placements. Mr. Cundiff was named head of McDonald's Credit Tenant Lease practice in 1998, structuring and placing fixed income securities for the firm’s corporate clients.

Since joining Townsend Capital, he organized the efforts to form a Community Development Entity (CDE) to utilize New Markets Tax Credits (NMTC) as an attractive project capital source. With Townsend's successful bid for NMTC allocations, Mr. Cundiff and his staff are responsible for structuring the NMTC transactions and raising the equity from corporations that wish to invest in qualified projects.

Mr. Cundiff has also been a driving force in the formation of Townsend Ventures, LLC and its subsequent creation of a robust investment portfolio. He has been integral in the acquisition and successful disposition of many of the company’s investments including Kokam America, Inc., Encelium Technologies and Kokam Co. Ltd. Additionally, he was intimately involved in the formation, structuring, and capitalization of Dow Kokam, LLC, a joint venture between Townsend and the Dow Chemical Company, Energy Power Systems, LLC and Townsend AllCell, LLC.

David Townsend

David Townsend, Vice-President

For more than a decade, David Townsend has been instrumental in growing Townsend to its current size, level of sophistication and breadth of services and expertise available to its clients.


Today, Mr. Townsend maps the strategic direction of the company and manages the company’s day-to-day operations. He brings to Townsend Capital a unique perspective as well as extensive experience and expertise in financing, leasing, structuring, sale/leaseback transactions and like-kind exchange transactions.

In 2007, he and his father formed Townsend Ventures, and moved the Company’s focus from real-estate-related transactions to energy-related investments. Mr. Townsend serves as President of Townsend Ventures, LLC. This new venture includes the acquisition of Encelium Technologies as well as significant investments in Kokam Co., Ltd., Dow Kokam, LLC and Kokam America, Inc. (now KA Remainder).

In addition to his role in Townsend Ventures, Mr. Townsend serves as President of Hamilton Farm Golf Club, LLC, a related company that owns an exclusive, high-end private golf club in Gladstone, NJ.

Mr. Townsend was a starting player for the nationally-renowned lacrosse team at Johns Hopkins University, where he graduated with a degree in economics in 1993.