AUSTIN, Texas–(BUSINESS WIRE)–Aug. 18, 2003–Austin Ventures, one of the nation’s most active venture capital firms, today announced the promotion of Craig Milius to principal. Milius will continueto focus his efforts on identifying and partnering with exceptional management teams of leading business services and technology-enabled outsourcing companies.
“Partnering with Austin Ventures and working with Craig Milius has proved invaluable to the achievement of our business objectives,” said Raymond B. Greer, President & CEO, Newgistics Inc., an Austin Ventures portfolio company. “The value-add that Austin Ventures provides goes way beyond the financial commitment.”
In addition to Newgistics, Milius is working with the teams of portfolio companies Credant Technologies, Prenova, and FacilityPro.
Ken DeAngelis, an Austin Ventures general partner, said, “The promotion of Milius is a key element of our plan to build a pre-eminent Services team in the venture capital industry. Craig’s experience, domain knowledge, and creative approach provides significant value to our firm.”
Before joining Austin Ventures in 2000, Milius served as an Associate with Primus Venture Partners, a Cleveland-based growth equity firm he joined in 1997. Before Primus, Milius worked in the Investment Banking division at Salomon Brothers Inc., where he completed merger and acquisition, strategic advisory, and capital-raising assignments for clients in a variety of industries. Milius earned his MBA from the Kellogg Graduate School of Management at Northwestern University and his BBA from the University of Michigan.
In addition to the promotion of Craig Milius, Austin Ventures announced the hiring of John Durrett and Matt Bowman as Associates.
Durrett will focus on the firm’s Services investment area. Previously, Durrett was with Hicks, Muse, Tate, & Furst, where he supported new deal teams and portfolio company management teams in making strategic and operational decisions. Before Hicks Muse, Durrett was a consultant with McKinsey & Company, where he served clients in the energy, technology, and non-profit sectors.
Bowman will focus on the firm’s Hardware and Services investment areas. Previously, Bowman was an associate with Dallas-based MHT Partners, where he provided strategic and financial advisory services to middle-market companies. Bowman was also an analyst in the technology practice at RBC Capital Markets, where he completed corporate finance and merger and acquisition assignments.
About Austin Ventures
Austin Ventures has been working with talented entrepreneurs to build valuable companies since 1979. With $2.4 billion under management, AV is the most active venture capital firm in Texas, and one of the most established in the nation. With a focus on enterprise software, computer and communications hardware, and business services, Austin Ventures invests at all stages of company development, from $100,000 “planned experiments” to $50+ million investments in management buyouts.
