H. Irving Grousbeck
Encyclopedia
Harold Irving "Irv" Grousbeck (born 1934) is an entrepreneur
, professor
at Stanford Business School
and co-owner of the National Basketball Association
basketball
team the Boston Celtics
.
In 2003, Grousbeck together with his son Wycliffe Grousbeck
, Steve Pagliuca of Bain Capital
, Robert Epstein, David Epstein, William P. Egan
and John Svenson, acquired the Boston Celtics
through their company Boston Basketball Partners LLC for $360 million.
. Grousbeck came on the faculty at Stanford in 1985 first as a visiting lecturer and in 1986 as a lecturer. In 1996, he was named a consulting professor. Prior to Stanford, Grousbeck had been a visiting lecturer at Harvard Business School
from 1981 through 1985. Grousebeck teaches a number of topics relating to entrepreneurship and issues faced by entrepreneurial companies and individuals.
Grousbeck co-founded Continental Cablevision (later Media One) in 1964. He served as President of from 1964 through 1980 and was chairman from 1980 through 1985.
Grousbeck is credited with originating the concept of a Search Fund
to make private equity
investments in 1984.
Grousbeck serves on the board of a variety of companies and non-profit organizations including Alta Colleges, Asurion
, Carillon Assisted Living and Pacific Pulmonary Services.
Previously, he has held various positions with William and Flora Hewlett Foundation
, Children's Hospital Boston
, the Massachusetts Board of Higher Education, Newton-Wellesley Hospital
, the New England Eye Bank and Menlo School and College.
, and both a Bachelor of Arts (1956) and an Honorary Doctor of Humane Letters from Amherst College
, in Amherst, Massachusetts
.
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
, professor
Professor
A professor is a scholarly teacher; the precise meaning of the term varies by country. Literally, professor derives from Latin as a "person who professes" being usually an expert in arts or sciences; a teacher of high rank...
at Stanford Business School
Stanford Graduate School of Business
The Stanford Graduate School of Business is one of the professional schools of Stanford University, in Stanford, California and is broadly regarded as one of the best business schools in the world.The Stanford GSB offers a general management Master of Business Administration degree, the Sloan...
and co-owner of the National Basketball Association
National Basketball Association
The National Basketball Association is the pre-eminent men's professional basketball league in North America. It consists of thirty franchised member clubs, of which twenty-nine are located in the United States and one in Canada...
basketball
Basketball
Basketball is a team sport in which two teams of five players try to score points by throwing or "shooting" a ball through the top of a basketball hoop while following a set of rules...
team the Boston Celtics
Boston Celtics
The Boston Celtics are a National Basketball Association team based in Boston, Massachusetts. They play in the Atlantic Division of the Eastern Conference. Founded in 1946, the team is currently owned by Boston Basketball Partners LLC. The Celtics play their home games at the TD Garden, which...
.
In 2003, Grousbeck together with his son Wycliffe Grousbeck
Wycliffe Grousbeck
Wycliffe "Wyc" Grousbeck is CEO, governor, and co-owner of the National Basketball Association's Boston Celtics.After spending seven years as a partner at a venture capital firm, Highland Capital Partners, Grousbeck founded the group Boston Basketball Partners L.L.C...
, Steve Pagliuca of Bain Capital
Bain Capital
Bain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
, Robert Epstein, David Epstein, William P. Egan
William P. Egan
William P. Egan is the founder and General Partner at Alta Communications, a venture capital firm, and Marion Equity Partners, a private equity firm, both based in Boston, Massachusetts. Mr. Egan also founded Alta's predecessor firm, Burr, Egan, Deleage & Co...
and John Svenson, acquired the Boston Celtics
Boston Celtics
The Boston Celtics are a National Basketball Association team based in Boston, Massachusetts. They play in the Atlantic Division of the Eastern Conference. Founded in 1946, the team is currently owned by Boston Basketball Partners LLC. The Celtics play their home games at the TD Garden, which...
through their company Boston Basketball Partners LLC for $360 million.
Career
Irv Grousbeck is one of the directors of Stanford Business School’s Center for Entrepreneurial StudiesStanford Graduate School of Business
The Stanford Graduate School of Business is one of the professional schools of Stanford University, in Stanford, California and is broadly regarded as one of the best business schools in the world.The Stanford GSB offers a general management Master of Business Administration degree, the Sloan...
. Grousbeck came on the faculty at Stanford in 1985 first as a visiting lecturer and in 1986 as a lecturer. In 1996, he was named a consulting professor. Prior to Stanford, Grousbeck had been a visiting lecturer at Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
from 1981 through 1985. Grousebeck teaches a number of topics relating to entrepreneurship and issues faced by entrepreneurial companies and individuals.
Grousbeck co-founded Continental Cablevision (later Media One) in 1964. He served as President of from 1964 through 1980 and was chairman from 1980 through 1985.
Other
Grousbeck is co-author of the textbook New Business Ventures and the Entrepreneur.Grousbeck is credited with originating the concept of a Search Fund
Search Fund
Search Funds are vehicles for entrepreneurs to raise funds from investors interested in making private equity investments.*In the first stage, a small group of investors back operating manager to search for a target company to acquire. A fund may or may not find a target acquisition company...
to make private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
investments in 1984.
Grousbeck serves on the board of a variety of companies and non-profit organizations including Alta Colleges, Asurion
Asurion
Asurion Corp. is the largest global provider of wireless handset insurance and wireless roadside assistance programs. Asurion also offers data-backup services through wireless carriers in North America. The International Headquarters is located in Nashville, Tennessee, and the North American...
, Carillon Assisted Living and Pacific Pulmonary Services.
Previously, he has held various positions with William and Flora Hewlett Foundation
William and Flora Hewlett Foundation
The William and Flora Hewlett Foundation is a private foundation, established by Hewlett-Packard cofounder William Reddington Hewlett and his wife Flora Lamson Hewlett in 1967. The Hewlett Foundation awards grants to support educational and cultural institutions and to advance certain social and...
, Children's Hospital Boston
Children's Hospital Boston
Children's Hospital Boston is a 396-licensed bed children's hospital in the Longwood Medical and Academic Area of Boston, Massachusetts.At 300 Longwood Avenue, Children's is adjacent both to its teaching affiliate, Harvard Medical School, and to Dana-Farber Cancer Institute...
, the Massachusetts Board of Higher Education, Newton-Wellesley Hospital
Newton-Wellesley Hospital
Newton-Wellesley Hospital is a community teaching medical center located in Newton, Massachusetts on Washington Street. It is affiliated with Tufts University School of Medicine and Harvard Medical School...
, the New England Eye Bank and Menlo School and College.
Education
Grousbeck received an MBA from Harvard Business SchoolHarvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
, and both a Bachelor of Arts (1956) and an Honorary Doctor of Humane Letters from Amherst College
Amherst College
Amherst College is a private liberal arts college located in Amherst, Massachusetts, United States. Amherst is an exclusively undergraduate four-year institution and enrolled 1,744 students in the fall of 2009...
, in Amherst, Massachusetts
Amherst, Massachusetts
Amherst is a town in Hampshire County, Massachusetts, United States in the Connecticut River valley. As of the 2010 census, the population was 37,819, making it the largest community in Hampshire County . The town is home to Amherst College, Hampshire College, and the University of Massachusetts...
.