New Venture Partners managing partner Stephen Socolof has been named
chair of the National Venture Capital Association's (NVCA) Corporate
Venture Group (CVG) Advisory Board. The CVG comprises that part of the
NVCA membership made up of corporate venture arms. The CVG Advisory
Board is responsible for developing programs to build better
communication and practical cooperation between CVGs, venture
capitalists, startup companies, and entrepreneurs. The Advisory Board
leverages and extends the resources of the NVCA to create
best-in-class educational and networking opportunities for corporate
venture programs of all charters, sizes, business types, industries,
and stages of development. Mr. Socolof's one-year term commenced with
the NVCA Annual Meeting on April 24.
"As market dynamics have compelled larger companies to embrace 'open
innovation' to drive growth, corporate venture arms are making a
significant positive impact by investing in entrepreneurial startups
that offer a strategic benefit to the overall organization," said NVCA
president Mark Heesen. "With 38 percent growth in our corporate VC
membership last year alone, it is an exciting time for innovation
across a diverse set of industries and geographies, and we expect this
momentum to continue."
"I'm honored to represent this growing constituency within our
industry as the landscape continues to evolve," said Stephen Socolof.
"The number and presence of CVG organizations is increasing, and there
is a great opportunity to help them play a stronger role in the
venture capital community."
Stephen is a founder and member of the investment committee of New
Venture Partners (NVP) since 2001. At NVP, Stephen works with leading
global technology corporations to help them spin out, commercialize,
and scale up new business opportunities in semiconductors, software,
storage, and wireless.
Previously, Stephen joined Lucent Technologies in 1996 to establish
Lucent's New Ventures Group responsible for incubating and launching
new ventures to commercialize technology from Bell Labs. Lucent's New
Ventures Group became the benchmark corporate venture organization for
commercializing internally-developed technology. Before joining
Lucent, Stephen spent eight years with Booz, Allen & Hamilton Inc.,
where he was a leader of the firm's innovation consulting practice.
Stephen is currently a director of EverSpin Technologies, GainSpan
Corporation, Own Products, and is an observer of Alverix. He was a
director of SyChip, Inc. before its acquisition by Murata and an
investor and observer of Flarion Technologies, Inc. until its
acquisition by Qualcomm, and of Silicon Hive until its acquisition by
Intel. In addition, he was the early lead on and helped launch
iBiquity Digital Corporation, Internet Photonics, Inc., and Lucent
Stephen holds a BA in Economics and a BS in Mathematical Sciences from
Stanford University and received his MBA from the Amos Tuck School at
Dartmouth College, where he was a Tuck Scholar. He currently serves on
the board of the Center for the Study of Private Equity at the Tuck
New Venture Partners, the global venture capital firm dedicated to
corporate technology spin-outs, has over $700 million under
management. Starting in 1997 as Lucent's New Ventures Group and
operating as an independent firm since 2001, the New Venture Partners
team has launched over 50 companies built upon innovations from
Lucent/Bell Labs, British Telecom, Philips, Boeing, Freescale, GE,
IBM, Intel, and other major technology companies.