William Henry Draper III
Encyclopedia
William Henry Draper III (born 1928) is a prominent American
venture capitalist.
, the son of Katherine (née Baum) and banker and diplomat William Henry Draper, Jr. He attended Yale University
with George H. W. Bush
, graduated in 1950, the year after George H. W. Bush
and is a member of the secret society Skull and Bones
. After graduating from college, Draper served as a second lieutenant in the Korean War
. Upon returning to the United States, he attended Harvard Business School
and studied under professor Georges Doriot
, who is often credited with starting the venture capital industry. Draper graduated with a Masters of Business degree, with distinction, in 1954. He then worked from 1954-1959 as a steel salesman at Chicago's Inland Steel Company
.
, the first venture capital
company on the West Coast. In 1962, Draper left Draper, Gaither & Anderson
to co-found the venture capital
firm Draper & Johnson Investment Company with his good friend Pitch Johnson, whom he had met while working at Inland Steel. In 1965, Draper founded Sutter Hill Ventures
, which to this day remains one of the top venture capital firms in the country. During his twenty years as the senior partner of Sutter Hill, Draper helped to organize and finance several hundred high technology manufacturing companies.
and was appointed to this position by President Ronald Reagan
. In this post, Draper assumed a leadership role in U.S. efforts to sustain world trade in the face of major liquidity problems among the developing countries.
In 1986, he became the head of the world's largest source of multilateral development grant assistance, the United Nations Development Programme
. As the second highest ranking individual in the United Nations
, Draper oversaw nearly 10,000 international aid projects. During his time at the UN and the Export-Import Bank, Draper traveled to 101 developing countries and met with over 50 heads of state.
s. Run much like a venture capital fund, in addition to financial support, the foundation also provides expert guidance and coaching to its fellows and fosters their growth from a start-up non-profit to a successful venture. Draper Richards is highly selective, awarding fellowships to approximately 1% of applicants each year. Since its founding, the Draper Richards Foundation has awarded nearly 30 fellowships.
, The Draper Richards Foundation, Hoover Institution
, Freeman Spogli Institute of International Studies at Stanford University
, World Affairs Council of Northern California
, the United Nations Association of the United States of America
and the Harvard Business School
California Research Center Advisory Board. He is a member of the Council on Foreign Relations
and the President’s Council on International Activities at Yale University
.
Draper formerly served as the Chairman of the World Affairs Council of Northern California
, Chairman of the Institute of International Education, as a Trustee of Yale University
and as Chairman of the Board of the American Conservatory Theater
in San Francisco; he was a former Board member of Population Action International
, George Bush Library Foundation, the Advisory Council of the Stanford Graduate School of Business
, and the World Rehabilitation Fund in New York.
, actress Polly Draper
and Becky Draper.
honored Draper with its Alumni Achievement Award, and in 1992 he was awarded the Ellis Island Medal of Honor
. In 1996 he received the Citizen Diplomacy Award from the International Diplomacy Council, and in 2002 he received the Woodrow Wilson Award for Public Service from the Woodrow Wilson International Center for Scholars
. In 2005 Draper received the Vision Award from SD Forum and was inducted into the Dow Jones Venture Capital Hall of Fame. In 2006 he received the Silicon Valley Fast 50 Lifetime Achievement Award and the Distinguished Service Award from the Institute of International Education. In 2009 Draper received the Global Citizen of the Year Award from International House Berkeley, the Lifetime Achievement Award from the Commonwealth Club
, the Lifetime Achievement Award from the International Business Forum, and the Philanthropic Leadership Award from the American India Foundation
. In addition, he has received honorary decorations from Bolivia
, Morocco
, and Samoa
and an honorary degree, Doctor of Laws, from Southeastern University
in 1985 and an honorary M.A. from Yale University
in 1991.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
venture capitalist.
Early life and career
Draper was born in White Plains, New YorkWhite Plains, New York
White Plains is a city and the county seat of Westchester County, New York, United States. It is located in south-central Westchester, about east of the Hudson River and northwest of Long Island Sound...
, the son of Katherine (née Baum) and banker and diplomat William Henry Draper, Jr. He attended Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
with George H. W. Bush
George H. W. Bush
George Herbert Walker Bush is an American politician who served as the 41st President of the United States . He had previously served as the 43rd Vice President of the United States , a congressman, an ambassador, and Director of Central Intelligence.Bush was born in Milton, Massachusetts, to...
, graduated in 1950, the year after George H. W. Bush
George H. W. Bush
George Herbert Walker Bush is an American politician who served as the 41st President of the United States . He had previously served as the 43rd Vice President of the United States , a congressman, an ambassador, and Director of Central Intelligence.Bush was born in Milton, Massachusetts, to...
and is a member of the secret society Skull and Bones
Skull and Bones
Skull and Bones is an undergraduate senior or secret society at Yale University, New Haven, Connecticut. It is a traditional peer society to Scroll and Key and Wolf's Head, as the three senior class 'landed societies' at Yale....
. After graduating from college, Draper served as a second lieutenant in the Korean War
Korean War
The Korean War was a conventional war between South Korea, supported by the United Nations, and North Korea, supported by the People's Republic of China , with military material aid from the Soviet Union...
. Upon returning to the United States, he attended Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
and studied under professor Georges Doriot
Georges Doriot
Georges F. Doriot was one of the first American venture capitalists. In 1946, he founded American Research and Development Corporation, the first publicly owned venture capital firm...
, who is often credited with starting the venture capital industry. Draper graduated with a Masters of Business degree, with distinction, in 1954. He then worked from 1954-1959 as a steel salesman at Chicago's Inland Steel Company
Inland Steel Company
The Inland Steel Company was a U.S. steel company active in 1893-1998. Its history as an independent firm thus spanned much of the 20th century. It was headquartered in Chicago, Illinois at the landmark Inland Steel Building....
.
Early Venture Capital
In 1959, Draper left Chicago to work as an associate at his father's newly formed firm, Draper, Gaither & AndersonDraper, Gaither & Anderson
Draper, Gaither & Anderson was one of the first venture capital firms founded in the western United States. The firm was founded in 1959 in Palo Alto, California by pioneering venture capitalist William H. Draper, Jr. Draper was joined by Rand Corporation founder Rowan Gaither as well as...
, the first venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
company on the West Coast. In 1962, Draper left Draper, Gaither & Anderson
Draper, Gaither & Anderson
Draper, Gaither & Anderson was one of the first venture capital firms founded in the western United States. The firm was founded in 1959 in Palo Alto, California by pioneering venture capitalist William H. Draper, Jr. Draper was joined by Rand Corporation founder Rowan Gaither as well as...
to co-found the venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
firm Draper & Johnson Investment Company with his good friend Pitch Johnson, whom he had met while working at Inland Steel. In 1965, Draper founded Sutter Hill Ventures
Sutter Hill Ventures
Sutter Hill Ventures is a private equity firm focused on venture capital investments in technology-based start-up companies. The firm is based in Palo Alto, CA....
, which to this day remains one of the top venture capital firms in the country. During his twenty years as the senior partner of Sutter Hill, Draper helped to organize and finance several hundred high technology manufacturing companies.
Sabbatical from Silicon Valley - Public Service
Draper has played an international leadership role in expanding the world economy. He served from 1981 to 1986 as President and Chairman of the Export-Import Bank of the United StatesExport-Import Bank of the United States
The Export-Import Bank of the United States is the official export credit agency of the United States federal government. It was established in 1934 by an executive order, and made an independent agency in the Executive branch by Congress in 1945, for the purposes of financing and insuring...
and was appointed to this position by President Ronald Reagan
Ronald Reagan
Ronald Wilson Reagan was the 40th President of the United States , the 33rd Governor of California and, prior to that, a radio, film and television actor....
. In this post, Draper assumed a leadership role in U.S. efforts to sustain world trade in the face of major liquidity problems among the developing countries.
In 1986, he became the head of the world's largest source of multilateral development grant assistance, the United Nations Development Programme
United Nations Development Programme
The United Nations Development Programme is the United Nations' global development network. It advocates for change and connects countries to knowledge, experience and resources to help people build a better life. UNDP operates in 177 countries, working with nations on their own solutions to...
. As the second highest ranking individual in the United Nations
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
, Draper oversaw nearly 10,000 international aid projects. During his time at the UN and the Export-Import Bank, Draper traveled to 101 developing countries and met with over 50 heads of state.
Return to Venture Capital
In 1994, Draper and Robin Richards Donohoe founded Draper International, the first U.S. venture capital fund to focus on investing in private companies with operations in India. In 2002, he co-founded Draper Richards LP, a venture capital fund that invests in early-stage technology companies in the U.S., and he also founded Draper Investment Company, which concentrates on seed investments in Europe and Asia.The Draper Richards Foundation
In 2002, along with Robin Richards Donohoe and Jenny Shilling Stein, Draper co-founded the Draper Richards Foundation, which provides selected social entrepreneurs with $100,000 annually for three years. The funds are specifically and solely for entrepreneurs starting new non-profit organizationNon-profit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...
s. Run much like a venture capital fund, in addition to financial support, the foundation also provides expert guidance and coaching to its fellows and fosters their growth from a start-up non-profit to a successful venture. Draper Richards is highly selective, awarding fellowships to approximately 1% of applicants each year. Since its founding, the Draper Richards Foundation has awarded nearly 30 fellowships.
Community service
As a civic leader, Draper has been involved in many community service programs. He is currently on the boards of the Atlantic CouncilAtlantic Council
The Atlantic Council is a Washington, D.C. think tank and public policy group whose mission is to "promote constructive U.S. leadership and engagement in international affairs based on the central role of the Atlantic community in meeting the international challenges of the 21st...
, The Draper Richards Foundation, Hoover Institution
Hoover Institution
The Hoover Institution on War, Revolution and Peace is a public policy think tank and library founded in 1919 by then future U.S. president, Herbert Hoover, an early alumnus of Stanford....
, Freeman Spogli Institute of International Studies at Stanford University
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
, World Affairs Council of Northern California
World Affairs Council of Northern California
The World Affairs Council of Northern California, founded in 1947 and headquartered in San Francisco, CA, offers a forum where diverse audiences engage in critical issues that inform their actions...
, the United Nations Association of the United States of America
United Nations Association of the United States of America
The United Nations Association of the United States of America or UNA-USA is a nonprofit membership organization dedicated to building understanding of and support for the ideals and work of the United Nations among the American people. Its education, policy and advocacy programs emphasize the...
and the Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
California Research Center Advisory Board. He is a member of the Council on Foreign Relations
Council on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
and the President’s Council on International Activities at Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
.
Draper formerly served as the Chairman of the World Affairs Council of Northern California
World Affairs Council of Northern California
The World Affairs Council of Northern California, founded in 1947 and headquartered in San Francisco, CA, offers a forum where diverse audiences engage in critical issues that inform their actions...
, Chairman of the Institute of International Education, as a Trustee of Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
and as Chairman of the Board of the American Conservatory Theater
American Conservatory Theater
American Conservatory Theater is a large non-profit theater company in San Francisco, California, that offers both classical and contemporary theater productions. A.C.T. was founded in 1965 in Pittsburgh, Pennsylvania in conjunction with the Pittsburgh Playhouse and Carnegie Tech by theatre and...
in San Francisco; he was a former Board member of Population Action International
Population Action International
Population Action International is an international nongovernmental organization that uses research and advocacy to improve global access to family planning and reproductive health care...
, George Bush Library Foundation, the Advisory Council of the Stanford Graduate School of Business
Stanford Graduate School of Business
The Stanford Graduate School of Business is one of the professional schools of Stanford University, in Stanford, California and is broadly regarded as one of the best business schools in the world.The Stanford GSB offers a general management Master of Business Administration degree, the Sloan...
, and the World Rehabilitation Fund in New York.
Personal life
Draper is married to Phyllis Draper, and is the father of venture capitalist Timothy C. DraperTimothy C. Draper
Timothy Cook Draper is the founder of the global venture capital firm Draper Fisher Jurvetson.Draper is third in a line of venture capitalists. His father, William Henry Draper III , founded Draper & Johnson Investment Company in 1962, Sutter Hill Ventures in 1968, Draper International India in...
, actress Polly Draper
Polly Draper
Polly Carey Draper is an American actress, screenwriter, playwright, producer and director. She is renowned for her ensemble role in ABC's hit series Thirtysomething. In 1998, Draper starred in her screenwriting debut The Tic Code, featuring Gregory Hines which was inspired by her husband Michael...
and Becky Draper.
Awards and honors
In 1982 Harvard Business SchoolHarvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
honored Draper with its Alumni Achievement Award, and in 1992 he was awarded the Ellis Island Medal of Honor
Ellis Island Medal of Honor
The Ellis Island Medal of Honor was founded by the National Ethnic Coalition of Organizations and intended to pay homage to the immigrant experience. The medals honor the contribution made to America by immigrants and the legacy they left behind in the successes of their children and grand-children...
. In 1996 he received the Citizen Diplomacy Award from the International Diplomacy Council, and in 2002 he received the Woodrow Wilson Award for Public Service from the Woodrow Wilson International Center for Scholars
Woodrow Wilson International Center for Scholars
The Woodrow Wilson International Center for Scholars , located in Washington, D.C., is a United States Presidential Memorial that was established as part of the Smithsonian Institution by an act of Congress in 1968...
. In 2005 Draper received the Vision Award from SD Forum and was inducted into the Dow Jones Venture Capital Hall of Fame. In 2006 he received the Silicon Valley Fast 50 Lifetime Achievement Award and the Distinguished Service Award from the Institute of International Education. In 2009 Draper received the Global Citizen of the Year Award from International House Berkeley, the Lifetime Achievement Award from the Commonwealth Club
Commonwealth Club of California
The Commonwealth Club of California is a non-profit, non-partisan educational organization based in Northern California. Founded in 1903, it is the oldest and largest public affairs forum in the United States...
, the Lifetime Achievement Award from the International Business Forum, and the Philanthropic Leadership Award from the American India Foundation
American India Foundation
The American India Foundation is a nonprofit American organization that is devoted to accelerating social and economic change in India...
. In addition, he has received honorary decorations from Bolivia
Bolivia
Bolivia officially known as Plurinational State of Bolivia , is a landlocked country in central South America. It is the poorest country in South America...
, Morocco
Morocco
Morocco , officially the Kingdom of Morocco , is a country located in North Africa. It has a population of more than 32 million and an area of 710,850 km², and also primarily administers the disputed region of the Western Sahara...
, and Samoa
Samoa
Samoa , officially the Independent State of Samoa, formerly known as Western Samoa is a country encompassing the western part of the Samoan Islands in the South Pacific Ocean. It became independent from New Zealand in 1962. The two main islands of Samoa are Upolu and one of the biggest islands in...
and an honorary degree, Doctor of Laws, from Southeastern University
Southeastern University
Located in southwestern Washington, D.C., in the United States, Southeastern University was a private, non-profit undergraduate and graduate institution of higher education that lost its accreditation from the Middle States Commission on Higher Education on August 31, 2009. The Commission reported...
in 1985 and an honorary M.A. from Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
in 1991.
See also
- William Henry Draper, Jr. is his father, a general who founded Draper, Gaither and Anderson.
- Timothy C. DraperTimothy C. DraperTimothy Cook Draper is the founder of the global venture capital firm Draper Fisher Jurvetson.Draper is third in a line of venture capitalists. His father, William Henry Draper III , founded Draper & Johnson Investment Company in 1962, Sutter Hill Ventures in 1968, Draper International India in...
is his son, a venture capitalist who founded Draper Fisher JurvetsonDraper Fisher JurvetsonDraper Fisher Jurvetson is a venture capital firm based in Menlo Park, California with affiliate offices in more than 30 cities around the world and over $7 billion in capital commitments....
. - Polly DraperPolly DraperPolly Carey Draper is an American actress, screenwriter, playwright, producer and director. She is renowned for her ensemble role in ABC's hit series Thirtysomething. In 1998, Draper starred in her screenwriting debut The Tic Code, featuring Gregory Hines which was inspired by her husband Michael...
is his daughter, an actress and a writer, most known for her portrayal of Ellyn on ABC's Thirtysomething. She also created and produced Nickelodeon's The Naked Brothers BandThe Naked Brothers Band (TV series)The Naked Brothers Band is an American television musical comedy created by Polly Draper. The show depicts the daily lives of Draper's sons, who lead a faux rock band from New York City. As a mockumentary, the storyline is a hyperbole of their real lives, and the fictional presence of a camera is...
, which starred her musical prodigy sons Nat WolffNat WolffNathaniel Marvin "Nat" Wolff is an American child actor, and singer-songwriter, composer, and keyboardist. He is the frontman of Nat & Alex Wolff...
and Alex WolffAlex WolffAlexander Draper "Alex" Wolff is an American child actor and musician, currently playing in Nat and Alex Wolff. He is best known for his role as himself on the Nickelodeon series The Naked Brothers Band, also starring his older brother, Nat Wolff; the series was created by the boys' mother, Polly...
.
External links
- http://www.draperrichards.com/
- http://www.draperco.com/
- http://www.draperrichards.org/