With a background in accounting at Arthur Andersen, investment banking at Kidder Peabody, and management consulting at Booz Allen and Hamilton, Ned decided to use his knowledge and experience to invest in small startup firms. From 1962 to 1968, Ned built the venture capital arm of Allstate Insurance Company. In 1969, he launched the Heizer Corporation, a vehicle to invest in young, high growth firms and a precursor to the venture capital firms we know today.
Over the sixteen-year history of his firm, Ned accumulated an impressive investment record. As important to him as his financial success, is the role he and his firm were able to play in growing businesses and creating employment in important segments of the economy. A list of Ned’s investments include Amdahl, Federal Express, Intel, and Material Science Corporation, in addition to numerous other companies that had a big impact in quieter ways.
In appreciation for his contribution to the industry, Ned received the Stanley C. Golder Medal from the Illinois Venture Capital Association for his pioneering efforts in venture capital in 2004 where he was described as “an innovator, an absolutely brilliant guy, and the father of venture capital, not only in Chicago but nationwide.”