2009 IVCA Awards Dinner Honors Trust, Partnership of VC Industry

2009 IVCA Awards Dinner Honors Trust, Partnership of VC Industry

December 16, 2009

On Monday, Dec. 7, Chicago Mayor Richard M. Daley joined more than 470 IVCA members and others who attended the Eighth Annual IVCA Awards Dinner. The event, held at the Four Seasons Chicago, honored members of the local venture capital & private equity industry and highlighted the civic-mindedness and philanthropy of our community.
 
IVCA presented awards to J.B. Pritzker of The Pritzker Group and New World Ventures, Danny Rosenberg of Sterling Partners, Bryan Cressey of Cressey & Company and John L. Hines, founder of Continental Illinois Venture and Equity Corporations, for their outstanding contributions to the industry.
 
Mayor Daley presented the Richard J. Daley Medal, in honor of his late father, to J.B. Pritzker for his direct and extraordinary support to the Illinois economy resulting from private equity funding. Pritzker ""recognizes the importance of creating jobs, of helping for-profits and not-for-profits,"" said Daley.
 
The mayor lauded Pritzker as a visionary who has achieved success by working with management and promoting public-private partnership. Daley cited Pritzker's civic involvement in the Illinois Holocaust Museum as a recent example of business and government working together.
 
""We, too can be pioneers of a great city of the future, just as our forefathers were,"" said Daley, quoting his father's first inaugural address in 1955.
 
John Aiello of The SAVO Group presented the Fellows Medal, recognizing outstanding contributions by IVCA and the private equity community, to Danny Rosenberg. ""During Danny Rosenberg's tenure at Sterling Partners, the firm went from managing $0 to $4 billion in institutional funds,"" said Aiello, who also stressed Rosenberg's focus on long-term client relationships. ""Danny treats each client's business as if it were his own.""
 
""Entrepreneurs' zeal is key,"" said Rosenberg in accepting the award. ""We're close to the 10-year anniversary of IVCA. Back in 1999 and 2000, we wanted the VC community and the entrepreneurial community to have a single voice. Since then, we've been through two recessions, weathered significant regulatory and legislative hurdles and we're working toward solutions.
 
""In facing our current challenges, we must all focus on what's going on and become active in IVCA,"" Rosenberg told the audience. ""There is not an industry more reliant on trust and partnership than venture capital. As peers, colleagues and partners, we are committed to working toward a common goal.""
 
Two awardees, Bryan Cressey and John L. Hines, received the Stanley C. Golder Medal for their contributions to the private equity industry. ""Ethics and integrity are inseparable from business success,"" said David Golder, son of the late Stanley C. Golder, as he presented the award to Bryan Cressey.
 
""In the 1970s, venture capital was a tiny enterprise,"" said Cressey. ""Golder set the tone for business ethics: Do exactly what you say you're going to do for everybody."" Cressey characterized venture capital as a ""testimony to the American free enterprise system. We provide the world its business model,"" he said.
 
John L. Hines, Jr. accepted the Golder Medal on behalf of his father, who is retired and living in Rancho Mirage, Calif. ""I want to share this award with entrepreneurs,"" said John Hines, Sr. in a prepared statement. ""We venture capitalists should remain deeply indebted to entrepreneurs."" Looking ahead to the industry's future, Hines wrote, ""Our goals should be simplifying and minimizing regulations.""
 
The awards dinner, presented by Kirkland & Ellis LLP, concluded with a dessert reception and a discussion among members about future opportunities.
 
Thank you to all of our 2009 IVCA Awards Dinner sponsors!.