Raul Fernandez (entrepreneur)
Encyclopedia
Raul J. Fernandez is an American
entrepreneur
. He is currently Chairman and CEO of ObjectVideo, and co-owner of the NHL Washington Capitals
, the NBA Washington Wizards
, and the WNBA Washington Mystics
.
son of a Cuba
n father and an Ecuadorian mother
. While in high school
, he attended a Capitol Hill fundraiser for Hispanic Republicans with his father. One of his father's friends introduced him to Congressman Jack Kemp
's chief of staff leading Fernandez to a part-time intern
position translating Spanish
documents. During this time he was given his first laptop computer and was his high school yearbook caption read, "Most remembered for being the first to have a computer."
While attending the University of Maryland
, he continued to work for Kemp. On Capitol Hill he worked on tax
legislation
and issues involving Central America
using spreadsheet
s and programs he developed to simulate the impact of various tax plans on different income groups.
with $40,000. Under his leadership, the company became a top global provider of e-business services for Fortune 500 companies. Proxicom's ultimate success was sealed with the signing of two big clients in the mid90s MCI
and AOL
. Fernandez met AOL's Ted Leonsis
on an airplane on his way back from launching one of the first e-commerce Web sites for MCI. The subsequent deals from AOL lead to growth, venture investments and the Proxicom's eventual $58.5 million IPO in 1999. In 2000, Proxicom generated more than $200 million in revenue.
In late 2000, Proxicom gathered interest from two buyers: Compaq
and Dimension Data
. A bidding war ensued and Proxicom was bought by Dimension Data.
businesspeople to create Venture Philanthropy Partners
, a $31 million non-profit fund to make investments in Washington-area organizations.
Gov.
Mark Warner
's Commission on Efficiency and Effectiveness.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
entrepreneur
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...
. He is currently Chairman and CEO of ObjectVideo, and co-owner of the NHL Washington Capitals
Washington Capitals
The Washington Capitals are a professional ice hockey team based in Washington, D.C. They are members of the Southeast Division of the Eastern Conference of the National Hockey League . Since their founding in 1974, "The Caps" have won one conference championship to reach the 1998 Stanley Cup...
, the NBA Washington Wizards
Washington Wizards
The Washington Wizards are a professional basketball team based in Washington, D.C., previously known as Washington Bullets. They play in the National Basketball Association .-Early years:...
, and the WNBA Washington Mystics
Washington Mystics
The Washington Mystics is a professional basketball team based in Washington, D.C., playing in the Eastern Conference in the Women's National Basketball Association . The team was founded prior to the 1998 season. The team is owned by Monumental Sports & Entertainment , who also owns the Mystics'...
.
Historic roots
He grew up in Silver Spring, MarylandMaryland
Maryland is a U.S. state located in the Mid Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east...
son of a Cuba
Cuba
The Republic of Cuba is an island nation in the Caribbean. The nation of Cuba consists of the main island of Cuba, the Isla de la Juventud, and several archipelagos. Havana is the largest city in Cuba and the country's capital. Santiago de Cuba is the second largest city...
n father and an Ecuadorian mother
Ecuador
Ecuador , officially the Republic of Ecuador is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. It is one of only two countries in South America, along with Chile, that do not have a border...
. While in high school
High school
High school is a term used in parts of the English speaking world to describe institutions which provide all or part of secondary education. The term is often incorporated into the name of such institutions....
, he attended a Capitol Hill fundraiser for Hispanic Republicans with his father. One of his father's friends introduced him to Congressman Jack Kemp
Jack Kemp
Jack French Kemp was an American politician and a collegiate and professional football player. A Republican, he served as Housing Secretary in the administration of President George H. W. Bush from 1989 to 1993, having previously served nine terms as a congressman for Western New York's 31st...
's chief of staff leading Fernandez to a part-time intern
Intern
Internship is a system of onthejob training for white-collar jobs, similar to an apprenticeship. Interns are usually college or university students, but they can also be high school students or post graduate adults seeking skills for a new career. They may also be as young as middle school or in...
position translating Spanish
Spanish language
Spanish , also known as Castilian , is a Romance language in the Ibero-Romance group that evolved from several languages and dialects in central-northern Iberia around the 9th century and gradually spread with the expansion of the Kingdom of Castile into central and southern Iberia during the...
documents. During this time he was given his first laptop computer and was his high school yearbook caption read, "Most remembered for being the first to have a computer."
While attending the University of Maryland
University of Maryland, College Park
The University of Maryland, College Park is a top-ranked public research university located in the city of College Park in Prince George's County, Maryland, just outside Washington, D.C...
, he continued to work for Kemp. On Capitol Hill he worked on tax
Tax
To tax is to impose a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities...
legislation
Legislation
Legislation is law which has been promulgated by a legislature or other governing body, or the process of making it...
and issues involving Central America
Central America
Central America is the central geographic region of the Americas. It is the southernmost, isthmian portion of the North American continent, which connects with South America on the southeast. When considered part of the unified continental model, it is considered a subcontinent...
using spreadsheet
Spreadsheet
A spreadsheet is a computer application that simulates a paper accounting worksheet. It displays multiple cells usually in a two-dimensional matrix or grid consisting of rows and columns. Each cell contains alphanumeric text, numeric values or formulas...
s and programs he developed to simulate the impact of various tax plans on different income groups.
Proxicom
In 1991, Fernandez left his job at Digicon and founded ProxicomProxicom
Proxicom, Inc. was an interactive agency that develops custom-tailored interactive and web-enabled solutions for Global 1000 organizations. Founded in 1991 by American entrepreneur and philanthropist Raul Fernandez , Proxicom was one of the original interactive professional services organizations...
with $40,000. Under his leadership, the company became a top global provider of e-business services for Fortune 500 companies. Proxicom's ultimate success was sealed with the signing of two big clients in the mid90s MCI
MCI Communications
MCI Communications Corp. was an American telecommunications company that was instrumental in legal and regulatory changes that led to the breakup of the AT&T monopoly of American telephony and ushered in the competitive long-distance telephone industry. It was headquartered in Washington,...
and AOL
AOL
AOL Inc. is an American global Internet services and media company. AOL is headquartered at 770 Broadway in New York. Founded in 1983 as Control Video Corporation, it has franchised its services to companies in several nations around the world or set up international versions of its services...
. Fernandez met AOL's Ted Leonsis
Ted Leonsis
Theodore John Leonsis is an Internet pioneer, sports team owner, venture capital investor, filmmaker, author and philanthropist. His early new media company, Redgate Communications was acquired by America Online in 1994, and Leonsis became a senior AOL executive for the next 13 years...
on an airplane on his way back from launching one of the first e-commerce Web sites for MCI. The subsequent deals from AOL lead to growth, venture investments and the Proxicom's eventual $58.5 million IPO in 1999. In 2000, Proxicom generated more than $200 million in revenue.
In late 2000, Proxicom gathered interest from two buyers: Compaq
Compaq
Compaq Computer Corporation is a personal computer company founded in 1982. Once the largest supplier of personal computing systems in the world, Compaq existed as an independent corporation until 2002, when it was acquired for US$25 billion by Hewlett-Packard....
and Dimension Data
Dimension Data
Dimension Data Holdings is a South African company specializing in information technology services, with operations in Europe, Asia, Australia, the Americas and the Middle East & Africa.In 2010, the company was fully acquired by Nippon Telegraph and Telephone....
. A bidding war ensued and Proxicom was bought by Dimension Data.
Ties to the philanthropic sector
Fernandez and his wife, Jean-Marie, founded the Fernandez Foundation. The organization supports programs to help improve the lives of needy Washington D.C., area kids by providing education, health care and other related needs. In another philanthropic endeavor, Raul joined 28 Washington, D.C.Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
businesspeople to create Venture Philanthropy Partners
Venture Philanthropy Partners
Venture Philanthropy Partners is a high-engagement philanthropic organization based in the DC metro area. It was founded in 2000 by Mario Morino, Raul Fernandez, and Mark Warner to invest in high-performing nonprofits in the National Capital Region...
, a $31 million non-profit fund to make investments in Washington-area organizations.
Ties to government
In 2001, Fernandez was appointed to the President's Council of Advisors on Science and Technology. He also lead the Information Technology Analysis Team for VirginiaVirginia
The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
Gov.
Governor of Virginia
The governor of Virginia serves as the chief executive of the Commonwealth of Virginia for a four-year term. The position is currently held by Republican Bob McDonnell, who was inaugurated on January 16, 2010, as the 71st governor of Virginia....
Mark Warner
Mark Warner
Mark Robert Warner is an American politician and businessman, currently serving in the United States Senate as the junior senator from the Commonwealth of Virginia. He is a member of the Democratic Party. Warner was the 69th governor of Virginia from 2002 to 2006 and is the honorary chairman of...
's Commission on Efficiency and Effectiveness.