Press Release: 2019-06-18
MassVentures Announces Jerry Bird to Step Down from President and CEO Post
BOSTON — Jerry Bird, the President and CEO of MassVentures, which runs the oldest public venture fund in the country, has announced his decision to step down, effective Aug. 30, 2019.
Bird joined MassVentures in 2005 after working in private venture capital funds for the previous 9 years, and was promoted to president in 2011.
MassVentures actively invests in early-stage companies and supporting entrepreneurs with limited access to traditional capital and investors. In its 40-year history, the MassVentures Traditional Fund has generated positive financial return for the Commonwealth.
“Over the past 14 years leading MassVentures, Jerry has contributed to Massachusetts' entrepreneurial ecosystem meaningfully and his work has helped portfolio technology companies grow, succeed, and become job creators,” said Housing and Economic Development Secretary Mike Kennealy. “We thank Jerry for his service and look forward to partnering with him to ensure a seamless transition for the organization.”
During his tenure, Bird furthered MassVentures’ mission of addressing capital gaps in the Massachusetts entrepreneurial ecosystem to fuel innovation and job creation, repositioned the organization and established the MassVentures brand, and launched MassVentures START (SBIR Targeted Technologies), a nationally recognized program that provides grants to nascent technology companies that have received federal funding under the SBIR program.
“It has been a great honor to work at MassVentures for the past 14 years and serve the incredibly talented, energetic and creative entrepreneurs that are abundant in the Commonwealth. During this time, we were able to expand the reach and impact of the MassVentures programs and put the organization on more stable financial footing,” said Bird. “While I will miss this work, I’m thankful for the opportunity and I am looking forward to what comes next.”
MassVentures’ portfolio companies have raised more than $1.5 billion in additional capital, employed over 7,500 people in the Commonwealth and have an estimated annual $250 million payroll. 18 of MassVentures’ portfolio companies have gone public.
MassVentures is a quasi-public venture capital firm focused on fueling the Commonwealth’s innovation economy by funding early-stage, high-growth Massachusetts startups as they move from concept to commercialization. MassVentures also awards funding through its award winning START (SBIR Targeted Technologies) program, which helps growing Massachusetts-based companies commercialize technologies developed under SBIR and STTR contracts.