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Investing in Philadelphia’s future through collaboration with innovative businesses and the region’s first Microsoft Innovation Center

Wayne Kimmel is the Managing Partner of SeventySix Capital, a venture capital firm that invests in “passionate, smart, and nice” entrepreneurs and their innovative startup businesses. Founded in 1999, SeventySix Capital has backed over 40 consumer-facing companies that have gone on to become preeminent names in the health care and technology spaces. The firm has completed a number of successful exits: Seamless, Take Care Health Systems, NutriSystem, and several other companies in SeventySix’s portfolio have gone public or have been acquired by multinational organizations such as IBM, Intel, Walgreens, and Aramark.

Named one of the region’s “Top Innovators” (Philadelphia Magazine, 2012), Wayne is one of the most active philanthropists in the Philadelphia area. He serves on the boards of the Jewish Federation of Greater Philadelphia, the Jewish Federation of North America, and the Einstein Healthcare Network—where he also acts as Chairman of the network’s Development Committee.

Earlier this month, Wayne and his firm made news with the announcement of Philadelphia’s Microsoft Innovation Center (MIC): a collaboration between Microsoft Corp., SeventySix Capital, the University City Science Center, and Wexford Science & Technology. The MIC is Philadelphia’s first, as well as the third location in the U.S. overall.

Q. Tell us about the name. Is there a connection to 1776?

WAYNE KIMMEL: The name SeventySix Capital came from the fact that my venture capital fund is based in Philadelphia. I’m really proud of this town. This is the city where the country was founded in 1776, so we used that as one of the things that we used to name SeventySix Capital. There’s also the very famous Highway 76. Also, at one point, I tried to buy the Philadelphia 76ers. Put it all together and that’s where the name came from.

Q. How would you describe your investment philosophy?

To me, it’s all about looking to help and work with an entrepreneur who’s trying to create a game-changing business. Our business philosophy is to work with smart and nice entrepreneurs who are trying to create game-changing businesses. It’s incredible to help people who have this incredible idea and allow them to actually take it to market and then be able to sell it to a very large company or take it public. The feeling of being involved with entrepreneurs from the beginning, where it’s sometimes two people and an idea, to then building a very large company—there’s nothing like that feeling to help them, to be their coach, to be their advisor, to be their friend.

Q. How does a company typically go from the startup stage to IPO?

A. It’s a very, very, long, long process. Many people believe that when you start a company the next thing you do is you’re going public on NASDAQ or the New York Stock Exchange. That’s not how these companies go. There’s no straight line to the top. There’s ups, there’s downs, there’s bumps in the road. There are so many things that happen. And for us, as venture capitalists and people who are helping them get there—to help them not fall off the road when they’re trying to make a move or make a turn and be there for them, provide advice, help them with their strategy, provide them with contacts, use our own network to help them. When I invest in a company my network is their network. Anyone I know, they can get to know. Anyone they need to get to know, I’ll try to help them get to know. That’s what I do for my companies. It’s what I love to do. I want to help them be successful.

So there’s nothing better to me of just taking an idea that many people think is crazy. A lot of times when these companies get started, their friends call them crazy, because they say, “here’s what I’m going to go and do,” and their friends call them crazy. Their spouse calls them crazy. Their parents may call them crazy: “What are you doing?” But here’s the thing. When people say to me, “I’m not so sure about this idea if people are calling me crazy,” you know what I tell them? They’re probably going in the right direction. Because people don’t really understand and they don’t know exactly where you’re going and you’re probably going in the right direction—you’re probably ahead of the curve. You are going to be the one who actually at some point, people will say to you, “Oh my God—I get it now,” and you’re there and you’ve built that company to be successful. It’s something that you really work really hard to help our companies and our CEOs and our founders—to just help them, just help them to be successful. It’s what it’s all about.

ABOUT NEWMARK GRUBB KNIGHT FRANK

Newmark Grubb Knight Frank (NGKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.

With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.

Justin Bell, Managing Director

Justin Bell serves as a managing director in Newmark Grubb Knight Frank's Wayne, Pennsylvania office. Since joining the firm in 2006, Mr. Bell has completed more than 3.0 million square feet of office and industrial transactions valued at $172 million. He specializes in office and industrial landlord and tenant representation as well as end- user sales, relocations, expansions, lease renewals, lease diagnostics, broker opinion of values and financial analysis. Mr. Bell spends the majority of his time advising companies in suburban Philadelphia.

Edwin Warfield, CEO of citybizlist, conducts the CEO Interviews.

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