Changing How the World Does Business

135

22 Fund-Raising—Round Three

It was time to begin planning for a third round of financing. Charlie and Rick Stowe began visiting other venture capital groups in the hope of attracting new investors by midsummer, but they found no takers. Charlie explained, “It was a tough time generally in the financial community. This was 1974 and the capital markets were in the tank.” Charlie realized he needed another source of funds for the third financing.

At his urging, we sent our best, most eloquent and personable ambassador to Paris for a face-to-face meeting with the Rothschild family. Art had a natural ability to charm our harshest critics. Over lunch with Baron Guy de Rothschild, his son David, and nephew Nathaniel at their Paris office, Art explained ...