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Posted 24 Feb 2001   For week ended July 02, 2000
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Sent on Mormon-News: 07Jul00

Summarized by Kent Larsen

Has Steve Young Found His New Career?
San Jose CA Mercury News 30Jun00 S2
By Shawn Neidorf: Mercury News

SALT LAKE CITY, UTAH -- In a move that may indicate the career path he will now follow, former San Francisco 49ers quarterback Steve Young is forming a venture capital firm. FirstLight Venture Partners includes Young and former Novell Inc. senior vice president David Bradford as partners, along with others that have not yet been named. The firm, headquartered in Salt Lake City, will invest in technology companies in the western US.

According to Bradford, the firm will raise its first fund in the next few months. Young, who is also an investor in Champion Ventures, a venture capital fund that raises money from pro-athletes and invests in other venture capital funds, may have been inspired by Champion, which was started a year ago by Young's former teammates Harris Barton and Ronnie Lott.

FirstLight will likely benefit from Young's name recognition, allowing it to raise funds from well-heeled investors that know Young's reputation on the field. According to Warren Packard of venture capital firm Draper Fisher Jurvetson, these connections can make a big difference in raising funds. He says Young has "access to money, connections and smarts. And he has a legal background, so all the contracts and deals won't be beyond him. As a venture capitalist, he could open a lot of doors," Packard adds. "There's a lot of people who would like to meet him."


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