After an extended illness, Fred Beste passed away on Saturday, December 8, 2018, at the age of 72.
A memorial service will be held on Tuesday, December 18 at 2 p.m. at First Presbyterian Church of Bethlehem, 2344 Center St., Bethlehem, PA 18017.
Fred’s family requests that memorial donations be made to CACLV (Community Action Committee of the Lehigh Valley), Bethlehem, PA, Hawk Mountain Sanctuary, Kempton, PA, or the Adult Congenital Heart Assn., 3300 Henry Ave, #112, Philadelphia, PA 19129, and extends much gratitude to Dr. William Davidson, Director, Program for Adult Congenital Heart Disease of the Penn State Hershey Medical Center’s Heart and Vascular Institute, Hershey, PA, for giving us so many more years with Fred than his heart was designed to support.
The Originate Growth Fund team benefited from Fred’s leadership and insight and he will be missed.
Fred Beste has spent his entire career in the venture capital industry, beginning in 1968 with Greater Washington Investors, Inc., a publicly held venture capital firm, where he was Vice-President and Treasurer. In 1975 he joined Kentucky Highlands Investment Corporation, a private venture capital development firm, where he was Vice-President and, ultimately, President and Chief Executive Officer. He joined MAVF in 1984 as the founding President and Chief Executive Officer of its first general partner. MAVF is comprised of four venture capital limited partnerships totaling approximately $200 million in capital. The funds focus on seed and start-up stage investments, primarily in technology-based companies located in the mid-Atlantic.
During the course of his career, Fred has served on the boards of directors of countless operating companies and has advised and worked with thousands of entrepreneurs. He has been widely published on the subjects of venture capital and entrepreneurship, and has done extensive public speaking on both subjects as well. He was the Chairman of the 1994 Mid-Atlantic Venture Fair, at the time the largest such event in the industry, and the recipient of the Greater Philadelphia Venture Group’s 1995 Blair Thompson Memorial Award for career achievement in venture capital, and Early Stage East’s inaugural (2001) Sal Buccieri Memorial Venture Impact Award for early stage venture capital investment achievement.
Fred received his B.A. in Economics from Stetson University, and was an adjunct professor in the MBA program at Cornell University, where he taught Case Studies in Entrepreneurial Finance from 2000-2009.
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