American Research and Development Corporation (ARDC) was a venture capital and private equity firm founded in 1946 by Georges Doriot, the "father of venture capitalism" (former dean of Harvard Business School), with Ralph Flanders and Karl Compton (former president of MIT).
ARDC is credited with the first major venture capital success story when its 1957 investment of $70,000 in equity and approximately $2 million in loans in Digital Equipment Corporation (DEC) became valued at many times the amount invested after the company's success after its initial public offering in 1966.
ARDC continued investing until 1971 with the retirement of Doriot. In 1972, Doriot merged ARDC with Textron after having invested in over 150 companies.
Read more about American Research And Development Corporation: Legacy
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