In the meantime he and Howard Schultz, CEO of Starbucks, had
become close friends. They met in 1991, when Dan was chosen
to handle Starbucks' IPO -- Howard noticed that when he
talked about Starbucks' vision and commitment to employees
and customers, Dan understood. By 1993, the two men were
investing together in consumer businesses; two years
later, Howard began asking Dan to come west and start a
compa...
more
In 1997, Dan Levitan, a managing director at Schroder Wertheim & Co., amazed
Wall Street by walking away from his job. "I had a wonderful time as an
investment banker," he says, "but in my heart of hearts, I knew I wanted to
be more closely aligned with the entrepreneurs, who at the end of the day
are the real heroes in any successful business." After giving notice, he set
off to climb Mount Kilamanjaro.
In the meantime he and Howard Schultz, CEO of Starbucks, had
become close friends. They met in 1991, when Dan was chosen
to handle Starbucks' IPO -- Howard noticed that when he
talked about Starbucks' vision and commitment to employees
and customers, Dan understood. By 1993, the two men were
investing together in consumer businesses; two years
later, Howard began asking Dan to come west and start a
company. He could tell that Dan "was very much being
seduced by the Northwest," and in 1997 Dan moved to Seattle.
Maveron was born in January 1998. Within six months, the company raised
$75 million. Today, Maveron manages close to $600 million in committed
capital from a broad range of sophisticated individuals and
institutions.
Maveron's name was coined from the words "maverick" and "vision."
"Maverick" entered the American vocabulary courtesy of Sam Maverick, a
19th-century pioneer and statesman who lived in Texas. He won 300
head of cattle in a poker game, then broke with tradition by refusing to
physically brand his herd. The result was that every steer on the range
without a brand was known as a maverick. It was a bold move, and it took
vision -- something we prize at Maveron. To us, vision means looking
beyond convention to create a more rewarding, memorable way of doing
things.
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