Word: quistes
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...worth $11.5 million when Convergent Technologies went public in 1982. "Politicians come knocking on the door; donations are sought from charities you never heard of; friends you've forgotten about come out of the woodwork; former adversaries become intimates." Observes Financier William Hambrecht, co-founder of Hambrecht & Quist, a San Francisco venture-capital and investment-banking firm: "Most of the guys who have failed are the ones who stopped listening and got carried away with their own ego. All of a sudden they became folk heroes and started to believe their own public relations...
Among the things Hambrecht, 48, grows best are seedling companies. As a general partner in San Francisco-based Hambrecht & Quist, he has nourished several electronics firms in the fertile fields of Silicon Valley, including Convergent Technologies and VLSI. Unlike most other investment companies, Hambrecht & Quist will do it all for clients: provide venture capital, underwrite stock issues and lend management help...
Hambrecht & Quist oversees seven venture-capital funds with total assets of more than $350 million. Clients range from institutional investors such as Yale University and American Express Co., which must chip in at least $1 million, to wealthy individuals, who put up $150,000 or more. The first fund, started in 1970 with $3.5 million, is worth more than $100 million...
...first half of 1983, Hambrecht & Quist had a hand in underwriting 26 stock issues worth $1.3 billion. Hambrecht is a director of eleven companies, including People Express, the discount airline, and NBI, which makes word processors...
...graduate who grew up on Long Island, N.Y., was a discontented broker working in the San Francisco office of Francis I. du Pont & Co., a now defunct New York City investment firm. One evening he stopped for a drink at the Kona Kai Club in San Diego with George Quist, a friend who was a venture-capital specialist for Bank of America. After commiserating a while over the excessive caution of big companies and consuming two bottles of wine, Hambrecht and Quist decided to launch their own venture-capital fund...