Heartland Ventures: Building the Next Generation
Born and raised on Long Island, I grew up working very closely with my father and brothers in our family business. It’s where I learned the ins and outs of privately held businesses: how they make investment and technology decisions, what their appetite for risk looks like, and how every decision ultimately impacts the bottom line. More importantly, though, I learned about how these decisions will impact the generations that come after us. Our children and grandchildren and beyond.
After leading the sale of the entity I managed, I took an opportunity to move beyond my comfort zone and went to the great Midwest to attend business school at the University of Notre Dame. Shortly after arriving on campus, I realized that most of the names on the big stone buildings were not all titans of finance from Wall Street but entrepreneurs who built multi-generational businesses that withstood the test of time and established themselves as leaders within their own communities.
At its core, Heartland Ventures was designed to enhance this multi-generational tradition. The model is actually quite simple. Startups want stable customers who can give honest and critical feedback. Corporations want access to cutting-edge technology that will be driving change in their given industry. Heartland simply acts as the matchmaker by bringing these two parties together. It’s that simple!
The Heartland region already plays such a pivotal role in the U.S. economy because of the foundational industries that have been here for some time. And, much attention has been given to investors looking to grow the next great technology company between the coasts. I wholeheartedly support and applaud those initiatives. In fact, I ultimately think we are trying to solve the very same problem by bringing technology to the Heartland. However, instead of trying to duplicate the models that have been successful in transforming other startup ecosystems, we want to use the assets we already have in place to make everyone more successful.
By bringing the innovation, the capital, and the willingness to take risk that already exists in Silicon Valley and New York City together with the industry expertise and customer base in the Heartland, I know we can create something truly special.
This opportunity is exactly what drew me to Heartland Ventures. The thesis seems so clear, and dare I say obvious, yet it has so much potential. The most interesting point to me is that there are dozens (if not hundreds!) of billion-dollar private corporations throughout the Heartland that very few people outside of the region have ever even heard of. These companies employ thousands of people, have become fixtures in the local community, and are actively seeking new technologies to improve their business operations and retain their talent.
Since joining Heartland Ventures three years ago, I’ve been lucky enough to work closely with many of these entrepreneurs and their younger generations. During this time, I’ve found that the next generation grew up with many of the same experiences as I did with my father and my brothers. We’re all passionate about continuing a legacy. We’re also almost all tech natives and see the value that smart technology can bring to a business. So, with a bit of a chip on our shoulders, I believe the next generation can make their own legacies within these businesses and be proud to pass it on to their children in the years to come.
