September 19, 2014

The entrepreneur is part of the bedrock of our economy and society. In a way, America itself was an entrepreneurial venture right from the start.

Driven by passion and inspiration, entrepreneurs lay everything on the line — self-esteem, reputation, finances — to build a business that will improve the world. They may take out a second mortgage, borrow against their kids' college fund, and work twenty-five hours a day if need be.

But sometimes even that isn't enough.

That's why I founded Tugboat Ventures, a "mentor" capitalist firm, in 2005. Our objective is to help the highest-potential entrepreneurs bring their dreams to life.

Supporting entrepreneurs has been my passion, and I've dedicated my career to this cause. I want to make a better world for those gritty entrepreneurs who are themselves making a better world.

Today, Chris Alden and I are announcing the Tugboat Institute & Tugboat Evergreen to support an emerging breed of "evergreen" entrepreneurs that we believe are underserved by the current investment models, and often underappreciated. Evergreen entrepreneurs are purpose-driven leaders with the grit and resourcefulness to build and scale private, profitable, enduring, businesses that make a dent in the universe. The Tugboat Institute is a membership organization, think tank, and champion for CEOs of evergreen companies, while Tugboat Evergreen is pioneering a new model for long-term investments in "evergreen" companies.

Both have been collaborations among a number of co-creators, and we intend on continuing this spirit going forward — with our members, chairs, senior advisors, fellows, and preferred provider partners. These two organizations, along with Tugboat Ventures, now become the three branches of The Tugboat Group.

Tugboat Ventures continues on as a classically structured venture capital firm, with a diverse and vibrant portfolio that we actively support, while the Tugboat Institute and Tugboat Evergreen expands our scope in the type of entrepreneurs we are able to support — and how we support them.

This is the next, exciting step — and we think a groundbreaking one — in delivering on my life's passion and Tugboat's founding purpose: supporting great entrepreneurs as they change the world.


Dave Whorton
The Tugboat Group