#203 Georges Doriot (Birth of Venture Capital)

It wasn't until the second half of the twentieth century that venture financing became a professional large scale industry. And the man who led that transformation was George Doriaux. I can't recall exactly when I first came across the name of General George Dorio. But I do know that in two thousand two, when I looked into the spar sparse literature, On the history of venture capital.

His name kept popping up. I found a bunch of newspaper and magazine profiles, a chapter on him in a book or two, and a short film. But no full length biography. He is the founder of the modern V C industry. But there's been remarkably little written about him.

He is the first person who basically ran an institutional venture capital fund and he played a lead role in getting the VC community to see itself as a real industry. The venture capital industry began to take shape after World War two on the Northeastern seaboard when in nineteen forty six Dorio became president of the first public venture capital firm. Boston based. American Research and Development Corporation.

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