Press Releases
Contact: Anne
Hutchison, CED |
Contact: Ford
Worthy, A. M. Pappas & Associates |
A. M. Pappas & Associates Pledges $100,000 to CED's Endowment Fund
Gift is First Cash Pledge of a Venture Fund to CED
September 18, 2001, Research Triangle Park, NC - Local venture development company A. M. Pappas & Associates has pledged a minimum donation of $100,000 to the Council for Entrepreneurial Development's (CED) Endowment Fund.
A. M. Pappas & Associates is the first venture fund to pledge cash. The gift also includes a still-to-be-determined interest in a charitable trust or foundation that the firm plans to establish next year.
"CED has played a pivotal role over the years in creating and fostering the vibrant entrepreneurial community of which we are a part - and from which we greatly benefit," said Art Pappas, chairman & CEO, A. M. Pappas & Associates. "We are pleased to be able to make this pledge to maintain and further enhance the environment for high-impact entrepreneurial companies in the RTP region."
"A. M. Pappas has always shown leadership and vision for entrepreneurs," said Monica Doss, CED president. "This generous pledge reflects the firm's strong commitment to regional entrepreneurs and CED's ability to continue to offer programs of value to the community's future generations."
The Endowment is CED's funding source created 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.
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 Dennis Dougherty and Mitch Mumma of Intersouth Partners in Durham, N.C.,
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.
About A. M. Pappas & Associates
A. M. Pappas & Associates is an employee-owned, international life science
venture development company. Its Fund Management group has approximately $150
million under management and its Advisory Services group provides a broad range
of licensing, M&A, technology assessment, and other advisory services to
the life science industry. The Advisory Services group has represented more
than 100 different companies in the U.S. and Europe over the past five years.
A. M. Pappas & Associates is located in Research Triangle Park, North Carolina.