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Co-founders Bruce and Douglas Dunnan acknowledge their great
grandfather Arthur Baldwin and his brother Leonard when
asked about the idea behind The Grosvenor Funds. After the
turn of the 20th century the Baldwins moved to New York
City and began a lifelong relationship of working together.
Eventually they created the Grosvenor Corporation, an investment
company that held The Grosvenor Hotel in New York City as
its primary asset. The Grosvenor Corporation remained in
existence as a holding company until the 1980s.
With
respective backgrounds in public and private equity, Bruce
and Doug recognized the growing opportunity for private
equity deals in the early 1990s. They also sought ways to
leverage their expertise in a venture where they could work
together. In 1994 they formed the first Grosvenor Fund as
an investment partnership focused on the private markets.
C. Bowdoin Train joined Grosvenor as the third managing
partner in 1995 to help expand both the focus and the reach
of the venture. Bowdy enjoyed a long-standing friendship
with Bruce and Doug and had spent much of his career working
with entrepreneurs to help them achieve their aspirations.
"I
have always been intrigued with the potential of extraordinary
individuals to change the way society lives and works."
- C. Bowdoin Train
The
first Grosvenor portfolio was structured as a hedge fund
with a private equity tranche. Investors’ desires for
a diversified private equity vehicle eventually led the
three partners to focus on pure venture investing. Since
inception, Grosvenor has organized four venture funds and
is currently investing Grosvenor Venture Partners IV, a
roughly $90 million Small Business Investment Company (SBIC)
Fund.Over the years, our
portfolio has completed numerous IPOs and mergers and acquisitions.
Among the most notable successes are Corvis (now Broadwing),
LightLogic, BioMarin, InphoMatch (now Mobile 365), and Onvia.
A large and growing network of companies, private and institutional
investors, technical advisors, and entrepreneurs support
Grosvenor management in four venture portfolios. We believe
that our network, along with our firm's ties, give Grosvenor
portfolio companies an advantage in anticipating market
trends, seizing opportunities, and building partnerships
for mutual success.
Years
of cohesive teamwork, consensus based management, and a
strong commitment to their Limited Partners and portfolio
companies are the hallmarks of Grosvenor's Managing Partners.
Going forward, their vision for The Grosvenor Funds is to
continue to ensure the success of the creative people and
companies with whom they have been privileged to work.
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