A successful corporation needs to combine a number of highly skilled personnel. Fortress Investment Group principal Peter Briger brought a different set of talents than Randal Nardone or Wes Edens did. Did Peter Briger bring startup expertise to the Fortress Investment Group?
There are many stages involved in turning a simple concept into a full-fledged corporation. Concepts have a great deal of latitude. Corporations have very rigid legal structures. Since Peter Briger had worked at Goldman Sachs, it is likely that he developed some very solid IPO skills. In fact, Goldman Sachs underwrote Fortress’ 2007 IPO.
Princeton Alumni Entrepreneurship Fund (AEF)
While Fortress was not a venture capital fund, it did have a great deal of latitude due to being a hedge fund. At Fortress, Peter Briger would assess ideas, funding and management. These are all key startup issues. Now, Peter Briger has taken this expertise back to school, by working with others to provide capital and technical support for the Princeton Alumni Entrepreneurship Fund (AEF). The AEF provides up to $100,000 to alumni startups of Peter Briger’s alma mater, Princeton.In many ways, venture capital is one of the highest risks and highest rewards sector for finance. Why? Simple – many startups fail.
Mature Financial Expert
When Peter Briger became involved in the Princeton Alumni Entrepreneurship Fund (AEF), he was part of a much riskier endeavor. The entrepreneurs might have only had an idea in their head – they had no concrete business plan.Did Peter Briger explain to any entrepreneurs that their idea was unlikely to work or did he simply give them advice on how to construct their company? Due to his wealth of experience, he could explain what worked and what didn’t work in the past.But, the real goal of Peter Briger might be to find the next Amazon. He can review startup ideas and look for the most promising. He could add to his billions if he could find that one big deal.The nice thing about starting a venture capital firm at your alma mater is that you can’t lose. The high risk and high reward startup industry is less risky when you are at Princeton – you know the entrepreneurs are well-versed in the same character traits that made you successful. Peter Briger is passing wisdom onto the next generation and might be handsomely rewarded for his efforts.