20, No. 6, Sept. 21, 2000
Illinois VENTURES Board of Managers
The UI Board of Trustees
has created a company to assist start-up companies that will take technology
from the UIs research and classrooms into the marketplace.
The trustees have selected six prominent leaders from business, finance
and government to be the first members of Illinois VENTURES LLC.
Illinois VENTURES will help new companies get seed and venture capital,
recruit management talent, develop business plans and provide other
services essential for success. Illinois VENTURES is part of Gov. George
Ryans Illinois VentureTECH initiative and is the keystone of the
universitys and states commitment to a comprehensive, long-term
strategic plan for technology growth in Illinois.
Appointed to the Illinois VENTURES Board of Managers: Michael J. Birck,
chairman of the board of Tellabs Inc.; James L. Foght, management director
in the investment banking division of Prudential Vector Healthcare Group;
Warren Holtsberg, corporate vice president of One Motorola Ventures;
Robert H. Newtson, chief of staff for Gov. Ryan; William P. Tai, a general
partner with Institutional Venture Partners Inc.; and Michael Tokarz,
a member of the limited liability company that is the general partner
to Kohlberg Kravis Roberts & Company. The remainder of the board
of managers represents the UI.
"This first board of managers has some of the best minds and practitioners
in the fine art of nurturing young companies in leading-edge technology
fields," said UI President James J. Stukel. "As a university,
we are entering a new arena and I am grateful that these talented and
experienced managers will help us cross the threshold. Illinois VENTURES
is one more way the university will add to the economic vitality of
this state and nation and were excited to have reached this critical
Two members of the UI Board of Trustees also will be among the board
of managers. Trustees Jeffrey Gindorf and Gerald Shea will serve two-year
terms. The universitys vice president, Chester Gardner, will be
an ex officio voting member. And the universitys vice chancellors
for research, Eric Gislason, Chicago, and Tony Waldrop, Urbana, will
be ex officio voting members.
UI Comptroller Craig S. Bazzani will serve as ex officio nonvoting treasurer,
and the universitys legal counsel, Thomas R. Bearrows, will serve
as ex officio nonvoting secretary of the company.
Also, the trustees have delegated authority to hire an executive director
to be employed through the university and assigned to Illinois VENTURES.