PDA Q&A: Van Conway, E-Interview

Interview with Founder and CEO of Van Conway and Partners in Birmingham.


DB: Where are you?

VC: Atlanta, then Dallas, Phoenix, and northern Florida. I’m on the road raising funds for a health care opportunity. I can’t say what it is exactly due to a confidentiality agreement, but things are going well.

DB: What’s your strategy?

VC: On a capital raise, you can bill (a client) by the hour or do it as a success fee. For larger firms, an hourly rate often makes more sense because it’s steady income. For a success fee strategy, you take less in the beginning but the upside at the end is much greater. We are a smaller firm, so we will have our strikeouts, but we’ll also have our share of homeruns. In the long run, we felt we will add more value to our clients and bring in more for the firm by going with a success fee strategy.

DB: Is that your set game plan?

VC: Each deal is different. Traditional bank funding (for a capital raise) is more challenging with Dodd Frank. So you look at equity funds, hedge funds, investors, and family foundations. Given I’ve been doing turnaround management and capital raises for more than 40 years, we have a large list of potential investors.

DB: How’s the lawsuit going against your former firm, Conway MacKenzie?

VC: We privately settled in December. I didn’t violate any of the noncompetitive clauses in terms of hiring their employees or going after their business, but people come to me and I can’t stop that from happening. As part of the settlement, I agreed to the non solicitation of their employees, and that’s the same for them. That burns off in February.   

DB: You launched a radio show?

VC: Yes, a monthly show on News/Talk 760 WJR focused on small businesses, which make up 99.7 percent of all businesses in the U.S. (up to 1,500 employees). Our plan is to syndicate it nationally. We want to add value and help companies grow in a smart way.

Edit Module
Edit Module Edit Module
Edit ModuleShow Tags

Related Articles

PDA Q&A: Jim Napolitano

The E-Interview, Senior Vice President of Organic, Troy

PDA: Q&A Elissa Noujaim Pinto

The E-Interview, Shareholder, Butzel Long, Bloomfield Hills

PDA: Q&A Patrick M. O'Keefe

The E-Interview, Patrick M. O'Keefe, Founder and CEO, O'Keefe, Bloomfield Hills

PDA: Q&A Peter J. Ginopolis

The E-Interview Peter J. Ginopolis, Vice President, LSG Insurance Partners, Bloomfield Township

The Century Club 2018

From banking and construction to education and restaurants, along with the Grand Hotel, DBusiness pays tribute to companies and organizations that are 100 or more years old.
Edit ModuleShow Tags

Most Popular

  1. Revered Cadieux Café on Detroit’s East Side Sold to Restauranteur Paul Howard and Musician John Rutherford
    The owners of the Cadieux Café on Detroit’s east side today announced that they have sold the...
  2. Jackson’s Henry Ford Allegiance Health First in U.S. to use Neuromonitoring System for Spine Surgery
    Henry Ford Allegiance Health in Jackson is the first hospital in the country to use Generation 2...
  3. Farmington Hills’ Plum Market to Open Street Concept Store in Downtown Detroit
    Plum Market, a food and beverage company based in Farmington Hills, will open a street concept...
  4. Bloomfield Hills-Based Sterilogy and Grand Valley Students Develop System to Help Reduce Hospital Infections
    Keeping hands clean and sanitized in hospitals and other medical facilities can be a challenging...
  5. Ottawa Towers Wins $7.4M Settlement from Pontiac Over Property and Parking Rights
    After more than six years of litigation, the City of Pontiac and the owners of the Ottawa Towers...
  6. Dykema’s Bloomfield Hills Office Adds Employee Benefits and Executive Compensation Attorney
    Dykema, a Detroit-based national law firm, has announced the addition of Kenneth J. Sachs to its...