Arthur Rock made a habit of financing great businesses. He was venture capital before venture capital was a thing.
It all started in 1961. Rock left a cushy job at Hayden Stone to team up with Tommy Davis to invest in new companies.
Their first investment was Teledyne. Henry Singleton’s conglomerate would go on to make a fortune for shareholders. That was quickly followed by investments in Scientific Data Systems, Intel, Intersil, and more.
His partnership with Davis lasted until 1968. Over that seven-year period, Rock invested $3 million and earned $100 million in returns.
What was the secret to his success? First, his timing was impeccable. He was practically the only person investing in Californian startups at the time.
Second, he looked for opportunities that appeared to have no limits. The business should have the ability to capture a large share of a giant market. Continue Reading…