PDA Q&A: Van Conway, E-Interview

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


Published:

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 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.

Wayne County Executive Warren C. Evans Proposes $5.4B Regional Transit Plan

Wayne County Executive Warren C. Evans has introduced a new draft transit plan for the region, and has asked the Regional Transit Authority of Southeast Michigan for feedback with the goal of placing it on the November ballot for voter approval.

DuMouchelle Auction This Weekend Offers Antiques From the Fisher Family

From family heirlooms to well-curated artworks, DuMouchelle Art Galleries in downtown Detroit will host an auction this weekend, including items from the Fisher family and other collectors.
Edit ModuleShow Tags

Most Popular

  1. Crown Enterprises in Warren Confirms Sale of Detroit’s Michigan Central Depot to Ford Motor Co.
    Matthew Moroun, chairman of Crown Enterprises Inc. in Warren, today announced that the company...
  2. Luxury Housing Developments Planned for Royal Oak, Birmingham
    Two new luxury housing developments are being built in Birmingham and Royal Oak. The Park West...
  3. Line of Flight
    A longer runway at Cherry Capital Airport in Traverse City, new golf courses and wineries,...
  4. Faurecia in Auburn Hills Partners With Chinese Automobile Manufacturer
    Auburn Hills’ Faurecia, an automotive technology company, today signed a strategic partnership...
  5. Holland, Mich.’s JR Automation Acquires Auburn Hills’ Esys Automation
    JR Automation, a Holland, Mich.-based provider of intelligent automated manufacturing and...
  6. Proposed Regional Mass Transit Plan Draws 62% Approval Rating in New Poll
    The Regional Transit Authority of Southeast Michigan today released the results of a survey of...