J.H. Whitney & Company

J.H. Whitney & Company is a venture capital firm in the U.S., founded in 1946 by John Hay Whitney and his partner Benno Schmidt.wikipedia
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Venture capital

venture capitalistventure capitalistsventure capital firm
J.H. Whitney & Company is a venture capital firm in the U.S., founded in 1946 by John Hay Whitney and his partner Benno Schmidt. In response to the changing conditions, in the venture capital industry in the 1980s Whitney (and other early venture capital firms including Warburg Pincus) began to transition away from venture capital toward leveraged buyouts and growth capital investments, which were in vogue in that decade.
Only after 1945 did "true" private equity investments begin to emerge, notably with the founding of the first two venture capital firms in 1946: American Research and Development Corporation (ARDC) and J.H. Whitney & Company.

John Hay Whitney

Jock WhitneyJohn Hay "Jock" WhitneyJohn Hay Whitney Fellowship
J.H. Whitney & Company is a venture capital firm in the U.S., founded in 1946 by John Hay Whitney and his partner Benno Schmidt.
In 1946, Whitney founded J.H. Whitney & Company, the oldest venture capital firm in the U.S., with Benno C. Schmidt, Sr.– who coined the term "venture capital" –with J. T. Claiborne as a partner.

Benno C. Schmidt Sr.

Benno SchmidtBenno C. Schmidt
J.H. Whitney & Company is a venture capital firm in the U.S., founded in 1946 by John Hay Whitney and his partner Benno Schmidt.
In 1946 he became a partner in the business that Whitney had proposed, venture capital firm J.H. Whitney & Company.

American Research and Development Corporation

American Research & Development
It was not until after World War II that what is considered today to be true private equity investments began to emerge marked by the founding of the first two venture capital firms in 1946: American Research and Development Corporation.
ARDC's significance was primarily that it was the first institutional private equity investment firm that accepted money from sources other than wealthy families as had J.H. Whitney & Company and Rockefeller Brothers although it had several investment successes as well.

Private equity

private-equityequityPrivate equity investor
The seeds of the US private equity industry were planted in 1946 with the founding of two venture capital firms: American Research and Development Corporation (ARDC) and J.H. Whitney & Company.

Leveraged buyout

leveraged buyoutsLBOleveraged finance
Today the firm focuses primarily on leveraged buyouts, turnarounds, acquisitions, and recapitalizations of more mature companies particularly those it considers to be in the middle market. The firm, which today is known as Whitney & Co. and also J.H. Whitney Capital Partners, LLC continues to make investments in leveraged buyout transactions and raised $800 million for its sixth institutional private equity fund in 2005.

New Canaan, Connecticut

New CanaanNew Caanan, ConnecticutNew Canaan, Conn.
The firm is based in New Canaan, Connecticut.

Institutional investor

institutional investorsinstitutionalInstitutional Investors Alpha
The firm, which today is known as Whitney & Co. and also J.H. Whitney Capital Partners, LLC continues to make investments in leveraged buyout transactions and raised $800 million for its sixth institutional private equity fund in 2005.

Private equity fund

private equity fundsprivate equityBuyout fund
The firm, which today is known as Whitney & Co. and also J.H. Whitney Capital Partners, LLC continues to make investments in leveraged buyout transactions and raised $800 million for its sixth institutional private equity fund in 2005.

Dot-com bubble

dot-com boomdot-com bustdot-com crash
The performance of the 2000 vintage fund IV in particular was impacted by the firm's exposure to technology and internet businesses.

Harvard Business School

HarvardBusiness SchoolHarvard University
He went to the deans of Harvard Business School, Yale Law School, and the MIT Graduate School of Engineering and asked each man who the best student they produced in the past five years was.

Yale Law School

YaleYale LawYale University
He went to the deans of Harvard Business School, Yale Law School, and the MIT Graduate School of Engineering and asked each man who the best student they produced in the past five years was.

Pioneer Pictures

Whitney had been investing since the 1930s, founding Pioneer Pictures in 1933 and acquiring a 15% interest in Technicolor Corporation with his cousin Cornelius Vanderbilt Whitney.

Technicolor

three-strip Technicolortwo-color Technicolortechnicolour
Whitney had been investing since the 1930s, founding Pioneer Pictures in 1933 and acquiring a 15% interest in Technicolor Corporation with his cousin Cornelius Vanderbilt Whitney.

Cornelius Vanderbilt Whitney

C. V. WhitneyC.V. WhitneySonny Whitney
Whitney had been investing since the 1930s, founding Pioneer Pictures in 1933 and acquiring a 15% interest in Technicolor Corporation with his cousin Cornelius Vanderbilt Whitney.

World War II

Second World WarwarWWII
Whitney would become a highly professional organization, whereas before World War II, venture capital investments were primarily the domain of wealthy individuals and families.

Minute Maid

Minute Maid Corporation
The company developed an innovative method for delivering nutrition to American soldiers, which later came to be known as Minute Maid orange juice and was sold to The Coca-Cola Company in 1960.

The Coca-Cola Company

Coca-ColaCoca-Cola CompanyCoca Cola
The company developed an innovative method for delivering nutrition to American soldiers, which later came to be known as Minute Maid orange juice and was sold to The Coca-Cola Company in 1960.

Warburg Pincus

E.M. Warburg, Pincus & Co.Warburg Pincus, LLCE.M. Warburg & Co.
In response to the changing conditions, in the venture capital industry in the 1980s Whitney (and other early venture capital firms including Warburg Pincus) began to transition away from venture capital toward leveraged buyouts and growth capital investments, which were in vogue in that decade.

Prime Computer

PrimePR1ME Computer Inc.PR1ME Computer, Inc.
Whitney's most public foray into the leveraged buyout space came in 1989, when it completed the acquisition of Prime Computer. In 1988, "corporate raider" Bennett S. LeBow, who controlled a smaller computer maker, MAI Basic Four, began an attempted $970 million hostile takeover of Prime Computer.

Corporate raid

corporate raidercapture raidcorporate raiding
In 1988, "corporate raider" Bennett S. LeBow, who controlled a smaller computer maker, MAI Basic Four, began an attempted $970 million hostile takeover of Prime Computer.

Bennett S. LeBow

In 1988, "corporate raider" Bennett S. LeBow, who controlled a smaller computer maker, MAI Basic Four, began an attempted $970 million hostile takeover of Prime Computer.

MAI Basic Four

BASIC FOURMAI Basic Four Business BasicMAI operating system
In 1988, "corporate raider" Bennett S. LeBow, who controlled a smaller computer maker, MAI Basic Four, began an attempted $970 million hostile takeover of Prime Computer.

White knight (business)

white knightwhite knightscorporate white knight
Management resisted LeBow's advances and eventually agreed to a $1.3 billion leveraged buyout with Whitney, acting as a white knight.

Filene's Basement

Whitney would complete other buyouts in the 1980s including the acquisition of retailer Filene's Basement.