[NU Sports] Venture capital funding

[tyjlevine at aol.com]

 Dick Kramlich, NU alum and one of the founders of modern day venture capitalism and Managing General Partner at New Enterprise Associates manages this for the University.  Dick has become close friends with henry over the years and we should be fortunate that Henry is a big believer in Venture Capital as he has some of his own personal money invested in such vehicles.
 

-----Original Message-----
From: Mark Ament <prplehaze at insightbb.com>
To: nwu-sports at romaine.tssi.com
Sent: Mon, 13 Mar 2006 22:42:18 -0500
Subject: [NU Sports] Venture capital funding


Interesting article in today's WSJ (subscriber's only online so no link) that discussed how alumni at several schools ( Duke, UCLA, Stanford and NU) had set up venture capital to benefit the athletic departments of the schools. The funds would be contributed by donors and then invested just like any other vc funds with proceeds accruing to the school's athletic department. Of the four, Stanford was the oldest and, not surprisingly, the most successful. It started in 1982 with $100,000 and was now worth $85 million. 
 
NU's fund was started in 1996 with $500,000 and was now worth $2.5 million. Proceeds had been used to build the weight room for the football team as well as the lakefront field for the lacrosse and field hockey team. 
 
It's a good idea if not a somewhat borderline idea from a tax standpoint. Obviously Stanford hit a grandslam but then again it probably had Gooble, Yahoo and Cisco in the fund. It's good to see NU using creative fund raising ideas. 
 
Mark 
http:\\thesportsbizblog.blogspot,com 
 
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