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Michael Brader-Araje Pledges $250,000 to CED's Endowment Fund
Gift is Largest Cash Pledge from an Entrepreneur to CED
October 2, 2001, Research Triangle Park, NC - Local angel investor, philanthropist and seasoned entrepreneur Michael Brader-Araje has pledged $250,000 to the Council for Entrepreneurial Development's (CED) Endowment Fund.
Michael Brader-Araje's gift, his third pledge, is the largest individual cash pledge to the fund from an entrepreneur. He has also donated stock from OpenSite Technologies and a portion of his returns from investment firm truePilot.
"It is personally very rewarding to give back to CED which offered me so much support while I was building OpenSite," said Brader-Araje. "CED has been a driving force in the success of the Research Triangle entrepreneurial community for nearly 17 years and now, more than ever, we need CED to help guide entrepreneurs through these uncertain economic times."
"From a highly successful entrepreneur to an angel investor to a philanthropist, Michael's maturation exemplifies how entrepreneurs contribute to society," said Monica Doss, CED president. "One of the goals of CED's new Innovation to Impact campaign is to promote the development of a culture of leadership within entrepreneurial growth companies - Michael is clearly the epitome of this goal."
CED created its Endowment Fund to serve as a long-term funding source designed to ensure the development of educational and mentoring programs assisting Triangle entrepreneurs, in perpetuity. The CED Endowment currently claims pledges from 101 individuals representing 61 companies.
In addition to this generous donation, The Michael and Laura Brader-Araje Foundation has also contributed to the Durham Workforce Partnership, American Red Cross, WUNC Radio, UNC School of Public Health, and Teach for America, among other organizations that support the arts, education, public health, social services, and environmental issues.
About truePilot
Michael Brader-Araje is the visionary and angel investor behind truePilot, a
Research Triangle-based early-stage investment firm specializing in entrepreneurial
Internet and wireless infrastructure companies. Investments typically range
from $50,000 to $500,000. In addition to funding, truePilot actively supports
its investments with hands-on involvement through a variety of consulting services.
truePilot provides additional support through its extensive network of partnerships
and contacts in the venture capital community, as well as in accounting, law,
real estate, marketing, public relations, web design, recruitment, and more.
This unique combination of investment, consulting services and networking positions
truePilot as a powerful business accelerator, significantly improving time to
market and return-on-investment for its portfolio companies.
More information about truePilot is available at www.truePilot.com.
About CED's Endowment Fund
Initiated in May 1999, the CED Endowment consists primarily of pledges of pre-liquid
stock from founders and senior managers of entrepreneurial companies, and gifts
of other appreciated stock and cash. Following the standard lockup period upon
a company IPO or sale, pledged stock is transferred to CED and proceeds from
its sale added to the Endowment's principal. Currently the principal includes
proceeds from such Triangle companies as AuctionRover.com, DataFlux Co., Ganymede
Software, Inspire Pharmaceuticals, and OpenSite Technologies, and cash donations
from A. M. Pappas & Associates of RTP; Dennis Dougherty and Mitch Mumma
of Intersouth Partners in Durham, NC; and Bernard Gray of Gray Ventures in Atlanta,
GA.
CED encourages anyone interested in learning more about this effort to contact Tim Tompkins at CED (919) 549-7500 ext. 103.