The Venture Midas Canon.
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Bill Draper
Portrait: Harvard Business School Association of Northern California ↗
007

Bill Draper

Second-generation VC; co-founded Sutter Hill and later ran the UN Development Programme.

Draper Gaither & Anderson / Sutter Hill1959 · PioneerUSResearch in progress

Verified chronology

  • 1928-01-01 — identity. William Henry Draper III was born in White Plains, New York. The target is the venture capitalist later associated with Draper & Johnson and Sutter Hill—not his father, William H. Draper Jr., or his son, Tim Draper. Reagan nomination, Bill Draper paragraph · Bancroft oral history, printed pp. 1–13
  • 1940s–1954 — education and military service. Draper attended Yale, served as an infantry officer in Korea, and graduated from HBS in 1954 after studying with Georges Doriot. The inspected record supports sequence and experience, but not a causal claim that any one episode produced his later investment method. Bancroft, printed pp. 1–22 · Something Ventured transcript, PDF pp. 2–3
  • 1954–1959 — operating apprenticeship. Draper worked in sales at Inland Steel in East Chicago; the contemporary nomination fixes the employment interval, while later interviews describe executive-training and budgeting experience. Reagan nomination, Bill Draper paragraph · Bancroft, printed pp. 13–22
  • 1958/1959–1962 — Draper, Gaither & Anderson. HBS/Bancroft accounts use 1958 for the firm's beginnings, while academic histories use an August 1959 launch and the Reagan record places Bill's associate tenure in 1959–1962. The public record may be separating organization, launch, and Bill's arrival; it does not justify one harmonized date. The GPs were his father, Rowan Gaither, and Fred Anderson; firm activity must not be converted into Bill-personal investing without deal-specific evidence. Bancroft, printed pp. 13–23 · Reagan nomination, Bill Draper paragraph
  • 1962 — Draper & Johnson. Draper and Franklin “Pitch” Johnson formed Draper & Johnson Investment Company after meeting at Inland Steel. Draper recalls an SBIC capitalized with $150,000 plus a $300,000 government loan; that is a vehicle-level recollection, not Bill's personal check or a return ledger. Bancroft, printed pp. 23–27
  • 1964/1965 — Sutter Hill transition. Draper & Johnson merged with a real-estate-sponsored SBIC called Sutter Hill Capital; Draper then worked with Paul Wythes and later formed an LP called Sutter Hill Ventures. Public sources use 1964, 1965, or “three years later,” and the surviving evidence does not justify forcing one date across merger, SBIC, and LP formation events. Bancroft, printed pp. 23–38 · HBS exhibit, career chronology
  • 1967 — political setback. Draper ran for Congress in a special election and lost. The episode belongs in the biography as an unsuccessful public-service attempt, not as evidence of investment skill. Bancroft, printed pp. 47–48 · Reagan nomination, political-activity paragraph
  • 1960s–1970s — Sutter Hill company-building era. Direct and participant accounts connect Draper or Sutter Hill to Measurex, Electroglas, Qume, Activision, Apollo Computer, Hybritech, LSI Logic, Ingres, Priam, and other companies. These names are candidate families, not a complete portfolio or person-level return denominator. Bancroft, printed pp. 23–59 and 83–97 · Poduska oral history, printed p. 37
  • 1970 — field influence. Brook Byers recalls a Stanford brown-bag panel with Draper, Pitch Johnson, and Reid Dennis as a turning point in his own career. This is a later witness account of audience impact, not a transcript of Draper's remarks. Byers oral history, printed pp. 5–6/PDF pp. 15–16
  • 1981-07-14–1986-02-28 — Export-Import Bank. Draper left his active Sutter Hill role for confirmed service as president and chair of the U.S. Export-Import Bank. Public records also preserve controversies over subsidy, small-business exposure, sovereign risk, and political pressure; they require policy-level analysis rather than an assumption that public finance was venture capital at state scale. EXIM official history, leadership timeline · Reagan successor nomination, Draper service paragraph
  • 1985 — Activision litigation control. A federal opinion recorded Draper's prior Activision board role, 3.9% stock ownership, and control-person allegations, allowed claims against him to proceed at the pleading stage, and struck the allegation that he remained a Sutter Hill general partner as “patently false.” This procedural ruling is not a merits finding of liability. In re Activision Securities Litigation, 621 F. Supp. 415, “Liability of William Draper III”
  • 1986-05-01–1993-07-15 — UNDP. Draper served as Administrator of the United Nations Development Programme. Official appointment, extension, and appreciation/end records control the exact span; HBS says 1995 and Bridgespan says 1994, neither of which overrides the contemporaneous UN record. General Assembly record A/40/PV.123 · ECOSOC E/1993/L.24, effective-departure sentence
  • 1986–1993 — public-development record and criticism. Draper described fundraising, opening offices in newly independent Central Asian republics, and separating aid from politics. Contemporary and later critics instead questioned UNDP bureaucracy, strategic clarity, and response speed; those critiques concern a large institution and do not by themselves prove personal misconduct. Bancroft, printed pp. 60–68 · Heritage UNDP critique
  • 1994/1995 onward — Draper International formation and India fund. After public service, Draper and Robin Richards raised an India-focused fund with OPIC participation. Formation accounts vary, contemporary reporting shows operations in 1998, and a 2003 filing still shows Draper-India ownership in Rediff. Draper later described distance, bureaucracy, sourcing, and winding the vehicle down; exact fund economics and complete company outcomes remain unlocated. Bancroft, printed pp. 69–82 · Rediff 20-F, principal-holder and director sections
  • 1996 onward — Draper Richards and later vehicles. The Bancroft front matter dates Draper Richards to 1996, while later institutional pages use different formation narratives for Draper Richards, Draper Investment Company, and the 2002 foundation. Those entities, partners, and capital pools must remain separate until governing documents resolve legal continuity and investment allocation. Bancroft, front matter and printed pp. 69–82 · DRK history, “Our history”
  • 2002 — philanthropic vehicle. Bill and Robin Richards formed the Draper Richards Foundation with family-supported capital; Kaplan was added later. Grants and nonprofit board support belong to a philanthropic denominator, not venture-return analysis. DRK history, founding paragraphs · DRK financials
  • 2002 — industry memory on film. Draper joined Pitch Johnson, Burton McMurtry, Tom Perkins, Arthur Rock, and Don Valentine for CHM's Pioneers of Venture Capital. The catalog's machine text is unlabeled and its last segment begins after the stated archival extent, so exact quotation and speaker attribution require video checking. CHM event · CHM catalog 102706131
  • 2005–2011 — oral-history and book record. NVCA, Bancroft, Something Ventured, HBS, and CHM collected overlapping retrospective accounts, and Draper published The Startup Game. Institutional duplication does not make repeated stories independent confirmation; the book body remains a licensed/borrowing retrieval question. NVCA transcript · Bancroft catalog · Open Library book record
  • 2005 — Skype outcome control. eBay agreed to acquire Skype for $2.6 billion in initial consideration plus potential performance-based consideration. The filing does not identify Bill Draper's vehicle allocation, cost basis, ownership, or realized proceeds, so it cannot support a personal return. eBay 8-K, Item 1.01 · Bancroft, printed pp. 69–82
  • 2006–2009 — filing controls for later investments. Filings show small Draper Richards positions in OpenTable, athenahealth, and DivX alongside much larger Tim-linked DFJ/Zone/Draper Atlantic holdings in athenahealth and DivX. This is mixed vehicle attribution, not evidence that Bill or Tim alone “backed” the companies. OpenTable S-1/A, selling-stockholder table · athenahealth 2008 S-1/A, principal-holder table · DivX S-1/A, principal/selling-holder table and notes 2/18
  • 2017 — three-generation retrospective. Bill, Tim, and the elder Draper legacy were presented together at CHM. The event is useful for disambiguation and family influence but must not transfer Tim's investments, misses, or politics to Bill. CHM, “Venture Capital in the Blood”
  • 2019 — later public appearance. CHM convened Draper with Pitch Johnson and Dick Kramlich. The recap is a retrieval route for late reflection, not evidence of earlier conduct unless the underlying media body is inspected. CHM event recap

Identity and scope boundary

The target is William Henry Draper III, also indexed as Bill Draper, William H. Draper III, William Henry Draper III, and Ambassador William H. Draper III. His father William H. Draper Jr. helped form Draper, Gaither & Anderson after military and government service. His son Timothy C. Draper is associated with Draper Fisher Jurvetson, Draper Associates, Draper University, and later political initiatives. A family name, shared “Draper” brand, board overlap, or later retelling is not sufficient to assign a deal, view, or result to Bill. Reagan nomination · CHM family event · Tim Draper official bio

Vehicle and role boundaries

entity or institution period in the public record Bill Draper's supported role unresolved boundary
Draper, Gaither & Anderson 1958/59–1962 associate; son of one founder individual decisions, capital, ownership, and carry are not public Reagan nomination
Draper & Johnson Investment Company 1962–mid-1960s cofounder with Pitch Johnson; SBIC participant portfolio, allocations, exact merger date, and economics remain incomplete Bancroft, printed pp. 23–38
Sutter Hill Capital / Sutter Hill Ventures mid-1960s–1981 for Bill's active era builder and senior partner with Paul Wythes; later partners and LPs supplied work and capital SBIC, corporate, evergreen, and LP phases are not one undifferentiated fund Something Ventured, PDF pp. 27–28
Export-Import Bank 1981–1986 president and chair sovereign lending and policy outcomes belong to the agency, board, Congress, exporters, and counterparties EXIM history
UNDP 1986–1993 Administrator development-program results belong to the institution, member states, staff, donors, and executing agencies UNDP administrators
Draper International formation dated 1994/1995; active by 1998; Rediff holding documented 2003 cofounder/manager with Robin Richards OPIC leverage, legal structure, company schedule, and cash flows require records Bancroft, printed pp. 69–82 · Rediff 20-F
Draper Richards / Draper Investment Company from the mid-1990s later venture manager; partner roles vary by period must not be merged with DFJ, Draper Associates, or personal/family capital OpenTable S-1/A
Draper Richards Kaplan Foundation from 2002 cofounder and philanthropic backer grants and nonprofit support are separate from venture investments DRK history

Candidate company and opportunity denominator

SCOUT searched and routed 37 named or deliberately anonymous opportunity/control families once into three exclusive buckets:

  • 33 provisional Bill/Bill-vehicle-associated candidates: Corbin-Farnsworth, Electroglas, Measurex, Plantronics, Apollo Computer, LSI Logic, Hybritech, Century Data, Priam, Quantum, Activision, Qume, Ingres, Atari, Magnuson Systems, ROLM, PowerTel Boca, Geometric Software, CMM, Query Soft, SaveSmart, Rediff, Selectica, Ramp Networks, Indus League, one unnamed movie investment, one unnamed clothing investment, Skype, athenahealth, OpenTable, DivX, Zappos, and Prolacta. Bancroft, printed pp. 23–59 and 69–97 · Business Standard, named India holdings
  • 3 remembered passes/opportunities, excluded from funded companies: Apple, Yahoo, and Microsoft. Something Ventured, PDF p. 45 · CHM oral history, printed pp. 24–25
  • 1 family-name identity control, excluded absent Bill-specific evidence: Hotmail, which the inspected public trail associates with Tim/DFJ rather than Bill. Tim Draper official history

All 37/37 were searched and assigned to a bucket; 0/33 provisional Bill/Bill-vehicle candidates has a complete public chain of exact vehicle, Bill-era decision right, security, check, ownership, follow-ons, exit/write-off, and cash flows. The other four are deliberately passes or an identity control. This is therefore not a funded-company count, return denominator, or complete portfolio. One legal company is counted once; follow-ons, acquisitions, aliases, and later manifestations do not create additional families. Later phases must separate sourcing, selection, capital, board work, follow-on, exit, and narration.

The broader vehicle denominators are also only self-reported or promotional: D&J 10–15 investments; Sutter Hill 150 companies financed by 1981 with an unclear definition; Draper International 25 investments and about six losses; Draper Richards about 40 by 2008. None has a retrieved complete schedule or audited cash-flow ledger. CHM oral history, printed pp. 9–19 · Reagan nomination, Bill paragraph · Bancroft, printed pp. 69–93

People and institutions to trace

  • Family and formative: William H. Draper Jr.; Dorothy Draper; Phyllis Culbertson Draper; Tim Draper; Georges Doriot; Yale; HBS; U.S. Army; Inland Steel.
  • Early firms and capital: Rowan Gaither; Fred Anderson; Don Lucas; Crawford Cooley; Larry Duerig; Pitch Johnson; Paul Wythes; Greg Poole/Sutter Hill real estate interests; Genstar; the SBA/SBIC program; early university and corporate LPs.
  • Company builders and syndicators: Dave Bossen and Pete Bancroft at Measurex; Chuck Gravelle at Electroglas; David Lee at Qume; Activision founders; John Poduska and Apollo co-investors; Hybritech operators; Reid Dennis; Rockefeller-family capital representatives; later Sutter Hill partners.
  • Public service: Ronald Reagan; George H. W. Bush; EXIM directors and career staff; Congress; exporters and sovereign borrowers; Javier Pérez de Cuéllar; Boutros Boutros-Ghali; UNDP staff, donors, and recipient-country institutions.
  • Later vehicles: Robin Richards; Howard Hartenbaum; Tim Draper and DFJ; William McGlashan where supported; OPIC; Skype founders and investors; OpenTable and Athenahealth teams; DRK partners and grantees.
  • Completed comparison routes: Georges Doriot for teacher, public-corporation/permanent-capital, centralized decision authority, ownership, incentives, and failure comparison; Arthur Rock for contemporary sourcing, people judgment, Apple, governance, finite partnership/person-dependent vehicles, and adverse cases; Reid Dennis for same-region syndication, Measurex team attribution, portfolio construction, governance, vehicle evolution, incentives, and ordinary-outcome gaps.

Open biographical questions

  1. Which primary records fix Draper & Johnson's formation, the Sutter Hill Capital merger, and Sutter Hill Ventures LP dates separately?
  2. What did Bill personally commit, own, approve, source, negotiate, recruit, govern, follow on, and exit in each candidate company, and what belonged to Wythes, Johnson, later partners, LPs, or syndicates?
  3. Can Sutter Hill's SBIC, Genstar-backed, university/corporate-LP, and evergreen arrangements be reconstructed from agreements, annual reports, capital accounts, and distribution records?
  4. Which Startup Game passages are direct historical evidence, edited recollection, or later doctrine, and what lawful full-body route is available?
  5. What do the complete 2002, 2017, and 2019 event media add beyond repeated oral-history stories?
  6. Which EXIM board minutes, transaction files, inspector reports, and congressional records separate Draper's decision authority from presidential, board, statutory, and staff roles?
  7. Which UNDP Executive Board records and evaluations distinguish institutional outcomes, policy disputes, and Draper's own decisions during the official 1986–1993 tenure?
  8. What happened in the Activision litigation after the 1985 pleading-stage ruling, and do later orders or settlements change the procedural boundary?
  9. Which companies and cash flows belong to Draper International, Draper Richards, Draper Investment Company, personal/family capital, Tim/DFJ, and the DRK Foundation?
  10. What full portfolio, pass, write-off, and ordinary-outcome records would overturn a fame- and survivor-biased narrative built mostly from Qume, Measurex, Activision, Apollo, Skype, and OpenTable?