Velissaris had worked for the Bonderman family before he co-founded Infinity Q Capital Management. [7][10], In June 2017, Bonderman resigned from the board of Uber amidst controversy surrounding a sexist response to fellow board member Arianna Huffington during a company all-hands meeting. The daughter of franchise founder and majority owner David Bonderman, Holloway will lead the group that guides the strategic direction of the Kraken, which includes vice chair David Wright, Andy Jassy, Jerry Bruckheimer, Chris Ackerley, Jay Deutsch, Maria Eitel, Mitch Garber, Adrian Hanauer, and Len Potter. https://www.thefamouspeople.com/profiles/david-bonderman-51091.php. There are five bedrooms in nearly 5,000 square feet of living space, an ultra-chic kitchen done up in sophisticated shades of honey and graphite, and a private balcony in the upstairs master suite that overlooks the lush yard. The Wildcat Foundation is a private not-for-profit philanthropic foundation whose purpose is to help save and provide for the long-term conservation of endangered wildlife and wild places in Africa. . An entity connected to Bonderman's Wildcat Capital Management is in contract to purchase a downtown Austin development site for $95 million. [1], Bonderman was born to a Jewish family,[2] in Los Angeles on November 27, 1942,[3] and was educated there at University High School. At. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The Bonderman ties were a selling point for Infinity Q; a presentation from the fund boasted that its investors would gain access to the same "alternative investment strategies originally created" for the prosperous family. Velissaris was identified as having been majority owner and in control of the fund with Bonderman family investment interests as passive investors in it. She also serves as co-founder and managing partner of boutique private investment company 2nd & Fillmore and owns a minority stake in the Kraken. David Bonderman (born November 27, 1942) is an American billionaire businessman. She opened the foundation so that she could give funds to non-profit organizations. Its just becoming more of an ownership presence from my family, more frequently, Holloway told Geoff Baker of the Seattle Times about her new role. Holloway says she cried when the Fab Five the 1991 basketball recruiting class at the University of Michigan often considered as one of the best of all time lost consecutive NCAA championship games in 1992 and 1993. David Bonderman In June, billionaire David Bonderman resigned from the ride-sharing app Uber's board after making an inappropriate joke in a meeting. By the age of 30, Velissaris founded his investment firm with financial support from David Bonderman (known as Bondo), a TPG Capital founder and protg of Robert Bass. In this episode, hear how Yee introduced Jay Electronica to Jay Z, why she decided to book Eminem for one of his first shows, and how she's expanded her empire to include real estate and a new coffee venture. Apparently, when Huffington had commented "There's a lot of data that shows when there's one woman on the board, it's much more likely that there will be a second woman on the board," Bonderman had responded, "Actually, what it shows is that it's much more likely to be more talking.". He was ranked at 289th spot in the same list of richest people in America. Dirt is a part of Penske Media Corporation. Get this delivered to your inbox, and more info about our products and services. [16], Wildcat Capital Management was originally Bonderman's family office. Radio personality and budding entrepreneur Angela Yee describes her youth in the New York City hip hop scene, her first radio job at Shade 45 and how she played a central role in bringing together some of the biggest names in music. It also reported an apparent loss of $500 million in the fund, bringing valuation to $1.2 billion, and some discussion of the loss. TPG generally makes significant investments in operating companies through acquisitions and restructurings across a broad range of industries throughout the United States, Europe, and Asia. On this Wikipedia the language links are at the top of the page across from the article title. He previously served on the boards of Washington Mutual, American Savings Bank, Denbury Resources and Burger King. Prosecutors' allegations of mispriced assets in the Infinity Q portfolios echo previous problems at the mutual fund. All Rights Reserved. The business of sports is all part of the game. He wanted to specialize in Islamic legal jurisprudence and law and thus left for Cairo, the capital of Egypt. Tod Leiweke, Andy Jassy, and Jerry Bruckheimer are the other . Bonderman. Bonderman, 80, is co-founder and chairman of private equity giant TPG Inc. , which debuted as a public company in January. In 1966 he went to Harvard Law School to pursue his graduation in Magna Cum Laude. Home Media David Bondermans Daughter Buys Hollywood Hills Home. David Bonderman Personal Life, Relationships and Dating [11] "Theres a lot of data that shows when theres one woman on the board, its much more likely that there will be a second woman on the board," said Huffington. [4] He graduated summa cum laude from Dartmouth College, where he was also a member of Alpha Chi Alpha. The family office of private equity legendDavid Bondermanis looking to raise money from other members of the worlds ultra-wealthy as it seeks to expand. Bonderman replied, "actually, what it shows is that it's much more likely to be more talking." Data is a real-time snapshot *Data is delayed at least 15 minutes. Bonderman was born on November 27, 1942, into a Jewish family in Los Angeles, California, U.S.A. Frost Bonderman is more than just another L.A. heiress, however, shes also a budding music mogul who owns Made in the Shade (MITS) Records, a fast-growing indie label based in Los Angeles. According to Baker, Holloway said she has no idea about any NBA expansion timeline but added that her family remains interested in bringing a franchise to the city when the league is ready.. In 1966 he went to Harvard Law School to pursue his graduation in Magna Cum Laude. Sign up for free newsletters and get more CNBC delivered to your inbox. . Truth + Media the creative media business of NBA Hall of Fame Coach George Karl and Seattle magazine have entered into a strategic partnership. Truth + Medias Iconic Sonics production is the leading content source for stories and discussion about the NBAs Seattle SuperSonics, who began play in 1967 and remained in Seattle, One of Seattles greatest sports icons eyes return of NBA, On a recent edition of three-time Emmy-award winning sports TV talk show Pardon The Interruption, cohost Michael Wilbon heaped lavish praise on NBA legend and Seattle icon Lenny Wilkens in celebration of his 85th birthday. TPG Capital went public in January, and Bonderman and co-founder Jim Coulter handed over the reins to Jon Winkelried, former co-president of Goldman Sachs, in March. Brand-new and nestled in a tropical forest of palms and bamboo, the teak-sided house flaunts decor with a very niche focus on high-end zen minimalism. You Wouldn't Know at Party for Private Equity Titan", "Golden Plate Awardees of the American Academy of Achievement", "Wilson Awards for Public Service and Corporate Citizenship in New York and Austin", "Woodrow Wilson Award for Corporate Citizenship: David Bonderman", History of private equity and venture capital, https://en.wikipedia.org/w/index.php?title=David_Bonderman&oldid=1102576527, American chief executives of financial services companies, Private equity and venture capital investors, University High School (Los Angeles) alumni, Pages containing links to subscription-only content, Short description is different from Wikidata, Articles containing potentially dated statements from October 2021, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0, 2016, Woodrow Wilson Award for Corporate Citizenship, This page was last edited on 5 August 2022, at 19:44. UPDATE: David Bonderman is resigning from Uber's board effective Wednesday as a result of the 'inappropriate' comment he made to director Arianna Huffington. There are clean-lined surfaces, organic hardwoods, bespoke finishes, and retractable glass doors that blend the indoors with the out in a quintessentially SoCal manner, making the place more reminiscent of a boutique hotel in an Indonesian jungle than a house just minutes from bustling Hollywood. In his resignation statement that followed on Tuesday. Looking toward the future, general manager Ron Francis has begun selling assets ahead of the March 21 NHL trade deadline. The Bonderman Family was a major investor in Infinity Q Capital Management, the investment company overseen by Velissaris, regulatory documents show. He also learned modern standard Arabic during his stay in Egypt. Catie Griggs became the only active woman president in a Major League Baseball front office when she was hired as president of the Seattle Mariners two summers ago. Holloway, one of Bondermans five children, is also the co-founder and managing partner of Hat Labs, a Denver-based startup studio that develops software products. Posted on 02/23/2021. Jeremy Bonderman Stats, Fantasy & News. He also has homes in Manhattan, Palm Beach and Jamaica The fans here are tremendous, says Holloway, who joined the Kraken in March 2022. On September 29, 2016, Bonderman was honored with the 'Woodrow Wilson Award for Corporate Citizenship' in Austin, Texas, for his contribution toward conservational programs across the globe. It's little wonder the Kraken has more than 10 owners, led up top by Bonderman, the highly . [18] Infinity Q had been founded in 2014. Rainwater, 71, succumbed after a long, debilitating . The University of Michigan is one of two schools, along with the University of Washington, to offer the Fellowship. High life: David Bonderman has a 27million Gulfstream jet (as depicted above in a stock image) Mansions: Schwarzman's St Tropez villa. [18] Leonard Potter, Infinity Q's non-executive chairman and owner of Wildcat, was designated to take over Infinity Q's management. Wildcat "managed more than $3 billion at the end of 2019, including capital from Bonderman. a $1.7 billion mutual fund that collapsed last year, Car buyers trade in haggling for sticker shock, Baby formula supply issues send parents scrambling, Arrested after a fatal stabbing, a Utah man told police he brought a gun to Capitol riot, to ensure that the appropriate source documentation for its valuation determinations are maintained. A walled and gated compound hidden on a private cul-de-sac deep in the Hollywood Hills and effusively described as an organic modern private tropical retreat in listing materials has sold for $5.7 million, a large number for the area. About. He grew quite fast in the organization. Last year, the trustees set aside $750 million, saying the largest component was for possible liability in connection with litigation filed against the Infinity Q fund. Outside, there is a pool, hot tub, turf, and entertainment area with a fireplace. In 2013, Bonderman's daughter Samantha created a similar fellowship, named the 'Bonderman Fellowship,' at the 'University of Michigan.' On the occasion of his 60th birthday, he threw a lavish party at 'The Joint,' a 4000-seat showroom in 'Hard Rock Hotel and Casino' in Las Vegas, Nevada. Wildcat Capital Management is starting to build a fund of roughly$500 million with contributionsfrom a small group of wealthy individuals and family offices, according to a person with knowledge of the plan. Bonderman gave away $1000 to the charitable organizations chosen by each of his guests. There is a difference between being less than completely honest and telling a lie of the bald-faced variety, though. This firm focused on Asian and Latin American markets. David Bonderman (born November 27, 1942) is an American billionaire businessman. The firm's investment platforms span a wide range of asset classes, including private equity, growth, venture, impact investing, real estate, and public equity. Allegations that Velissaris manipulated returns and asset values for four years after that incident indicate the fund's trustees were providing inadequate oversight, said Marshall Glickman, an aggrieved investor in the Infinity Q fund. Together with Laurie Michaels are having a total of 5 children. Other players on expiring contracts who could also be moved before Mondays deadline include captain Mark Giordano and forwards Colin Blackwell, Marcus Johansson and Riley Sheahan. David (Bondo) Bonderman was a legend, having made a 10x return on his daring move to buy Continental Airlines out of bankruptcy. I had all the emotions.. A. It was a rare example of a big mutual fund failure amid a roaring bull market. [7] In 1983, he joined the Robert M. Bass Group, Inc. (RMBG),[8] which now does business as Keystone Inc., and became the chief operating officer. Holloway purchased the triple corner lot property in Wash Park for $1.3 million in 2017, according to property records. When his daughter Elizabeth turned 13, defence contractor David Brooks spent $10m on a party in New York City, and persuaded Stevie Nicks, Aerosmith, the Eagles, Tom Petty and 50 Cent to appear. In 1994, as part of TPG, he partnered along with 'Blum Capital Partners' and 'ACON Investments' and created another private equity investment company, 'Newbridge Capital.' Uber board of directors member David Bonderman has resigned after making a sexist crack about his female colleagues at a Tuesday meeting on the company's plans to address complaints of sexism and other workplace culture problems. John Mellencamp played for an hour, The Rolling Stones played for an hour and a half, and comedian Robin Williams entertained guests between acts. That. Prosecutors said Velissarisinflatedthe value of the funds' holdings by $1 billion and manipulated the results for at least four years to mask poor performance. "Bloomberg Opinion" columnists offer their opinions on issues in the news. The residence features an expansive covered front porch, an open-concept kitchen and dining area, a primary suite with a floor-to-ceiling fireplace, walk-in closet and spa-like bath, plus a finished basement with a workout room and wine cellar, according to the listing. It's up to 'Winks . The SEC also accused Velissaris of pocketing $27 million in management fees generated by his improper valuation of the funds' holdings. Musk Made a Mess at Twitter. Out back, a slim concrete patio sports a firepit and built-in banquette. This story was reported by our partner BusinessDen. Today, TPG is led by CEO Jon Winkelried, who became sole CEO in 2021 after serving as Co-CEO since 2015. David Bonderman invested US$ 2 million in Infinity Q when the . We are just beginning this journey with many opportunities in front of us. Samantha Holloway will chair the executive. Copyright 2023 Seattle Magazine. In 1992, along with his long-time friend James Coulter and William S. Price III, he co-founded the private equity investment company 'Texas Pacific Group,' which is now called 'TPG Capital.' Many of their holdings involved bets on exotic investments known as derivatives, because they are derived from other securities. Ive seen great support from the community and from all the leaders here.. The event cost Bonderman $7 million and became one of the most expensive private concerts in history. He graduated from the 'University High School,' in West Los Angeles, a district in Los Angeles. A walled and gated compound hidden on a private cul-de-sac deep in the Hollywood Hills and effusively described as an organic modern private tropical retreat in listing materials has sold for $5.7 million, a large number for the area. Shares most. Birthday: November 27, 1942 (Sagittarius), Born In: Los Angeles, California, United States, education: University High School Charter, See the events in life of David Bonderman in Chronological Order, https://www.youtube.com/watch?v=5TPNdDDZdnQ, https://commons.wikimedia.org/wiki/File:David_Bonderman.jpg, https://www.youtube.com/watch?v=zc33xMz26d0, https://www.youtube.com/watch?v=T7dyO2oxsNk, https://www.youtube.com/watch?v=74s2HJSy6CQ. The resignation of David Bonderman explains Silicon Valley's sexism problem better than any investigation ever could. The U.S. Attorneys Office for the Southern District of New York announced criminal charges against Velissaris, and the Commodity Futures Trading Commission (CFTC) announced parallel civil charges against him. [4] Bonderman studied at the University of Washington, where he graduated Phi Beta Kappa in 1963, and at Harvard Law School, where he graduated magna cum laude in 1966. Wildcat Capital is looking to raisea fund of about $500 million withcontributionsfrom a small group of wealthy individuals and other family offices. David was born in Los Angeles, California, U.S. on 27th November 1942. He is the founding partner of TPG Capital (formerly Texas Pacific Group), and its Asian affiliate, Newbridge Capital. The new homeowner is Zoe Frost Bonderman, the 27-year-old daughter of multibillionaire David Bonderman, minority owner of the Boston Celtics, a former Uber board member, and a high-profile Texas-based private equity tycoon. [19] In early 2021, the $1.7 billion Infinity Q fund[19] suspended redemptions, the SEC was investigating asset valuations and the chief investment officer, James Velissaris, had been placed on administrative leave. Launching the Seattle Kraken has been one of the most enjoyable projects of my career, said Bonderman in a statement from the team. Jim Coulter and David Bonderman, former colleagues at the Bass Family Office, created TPG in 1992 and opened the firm's first offices in San Francisco. [7], In 2008, Bonderman was named as one of the investors of what became the T-Mobile Arena in Las Vegas. He was a director in both these companies. In 1993, Bonderman and his partners made their first significant investment in the then-bankrupt 'Continental Airlines' and turned it into a profit-making company. Sexism. We look forward to vindicating James, who has been scapegoated by others who will have to answer in court for their own compliance failures and the losses incurred by their irresponsible liquidation of the portfolio.". David Bonderman, founding partner of TPG Capital and its Asian affiliate, Newbridge Capital, is a Texas based angel investor. Fund investors harmed in the alleged fraud are also paying out approximately $900,000 a month in expenses, records show. By the time he founded Texas-based TPG in 1992, Bonderman was nearly 50 years old and had already boasted an eclectic and accomplished professional life, which included a stint as a security. The NFLs Seahawks are owned by Jody Allen, sister of the late Paul Allen. He's worth $6.8 billion, according to the Bloomberg Billionaires Index. [7] Bonderman has been a principal at TPG Capital in Fort Worth, Texas, since December 1992, where he is also co-founder and chairman. Right after that, I got an email from David Bonderman saying 'we're comfortable with you.' . David Bonderman (born November 27, 1942) is an American billionaire businessman. Meet Samantha Holloway, the latest woman sports executive changing the game in Seattle, Mike Gastineau, Smantha Holloway, Chris Daniels/Photo by Linda Lowry, The Pursuit of Nobility: Interview with Lenny Wilkens, Every Car Has a Story: Shes Got Drive. "Why was Velissaris in a position to misprice the assets for four years?" The 'University of Washington' started the 'Bonderman Travel Fellowship' in 1995. In 1996, TPG invested in 'Ducati Motor Holding S.p.A' and 'Beringer Wine Estates.' SAN FRANCISCO David Bonderman, an Uber board member and partner at private equity firm TPG, resigned from the board of the ride-hailing company after he made a disparaging remark about women. David Bonderman, a private equity billionaire, thinks betting on Russia could be a smart move because the country is starving for capital and asset prices have tumbled. Like her father, shes also established herself as a major left-leaning political donor, having given hundreds of thousands to progressive causes over the last several years. David Bonderman was born on November 27, 1942 in Fort Worth, Texas, United States. Glickman said he believes the SEC should have appointed an independent group to manage the fund's liquidation and disbursements, instead of allowing the trustees who were on hand during the alleged fraud to oversee it. She co-founded Hat Labs, a startup studio based in Denver that builds software products. The Bat Mitzvah of Elizabeth Brooks, daughter of businessman David Brooks - $10 Million David H. Brooks allegedly made his money selling defense weapons, and held the king of all parties for. He is also one of the minority owners of the NBA's Boston Celtics as well as the co-founder and co-majority owner (along with Jerry Bruckheimer) of the Seattle Kraken of the National Hockey League. The new homeowner is Zoe Frost Bonderman, the 27-year-old daughter of multibillionaire David Bonderman, minority owner of the Boston Celtics, a former Uber board member, and a high-profile. Wilbon noted that hes a basketball Hall of Famer three times over [as a player, coach and assistant coach of. The much-anticipated . While the fellowships share the same name (the Bonderman Fellowship), they vary in both eligibility and execution. Croaking native frogs and mosquito fish lend to the peaceful ambience, while stone pathways criss-cross the entire estate, from the main house down to the glass-sided swimming pool. He subsequently earned an MBA from the Stanford Graduate School of Business in 1986, where he was named an Arjay Miller Scholar. He is one of the top billionaires in America and the Co-founder of TPG Capital. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. "If this case takes three years, that's $36 million gone right there.". He, his wife Amber, daughter Mailee Blaize (6/2/06) and son Tripp Allen (12/28/09) reside in Pasco, WA during the offseason.was 2-0 with a 3.07 ERA in two games for Team USA at the 2000 World Junior Championships.as a junior at Pasco High School in 2001, he went 3-1 with a 3.60 ERA and 54 strikeouts in 35.0 innings. articles a month for anyone to read, even non-subscribers! A Unique Perspective. Between June 2021 and February, those expenses totaled $7.24 million. The only female partner at the 74-year old private equity mogul's TPG Capital is leaving the firm. The set-aside is necessary, the trustees said, because insurance held to cover lawsuit costs may be insufficient, and it does not cover certain expenses, including those associated with the liquidation and government investigations. Certain positions held by the mutual fund "were reported at mathematically impossible valuations," according to a civil complaint filed against Velissaris on Thursday by the Securities and Exchange Commission. You go to a Storm game and everyones extremely positive. According to the complaint, Velissaris collected more than $26 million through fraudulent conduct, deceived SEC staff by creating backdated minutes non-existent valuation meetings, and altering valuation policy documents. [15] The NHL Board of Governors voted to approve the team, named the Seattle Kraken, on December 4. The WNBAs Seattle Storm is women-owned. There are clean-lined surfaces, organic hardwoods, bespoke finishes, and retractable glass doors that blend the indoors with the out in a quintessentially SoCal manner, making the place more reminiscent of a boutique hotel in an Indonesian jungle than a house just minutes from bustling Hollywood. The family lost "a substantial amount" in the collapse, the spokesman said. There is not much information about the children but they all live together in Forth Worth, Texas. In 2013, David Bonderman's daughter, Samantha [Holloway] donated the funding to create a similar fellowship at the University of Michigan. He is on the boards of The Wilderness Society, the Grand Canyon Trust, the World Wide Fund for Nature, The University of Washington Foundation and the American Himalayan Foundation. Perhaps the propertys most notable feature is its natural mountain creek, which gurgles in a wash directly below the main house, overlooked via a wooden bridge. The daughter of David Bonderman, a billionaire businessman and co-founder of the Seattle Kraken hockey team, has put her Wash Park home on the market for $6 million. Private equity veteran David Bonderman has largely avoided the spotlight since the NHL revealed in 2017 that he would be the majority owner of the group seeking to bring Seattle an expansion hockey franchise. Get the latest scoop directly in your inbox. Holloway, co-chair and co-owner of the NHLs Seattle Kraken, also told hosts Mike Gastineau and Chris Daniels on the Iconic Sonics podcast Feb. 27 that she views Seattle as a unique sports market where different teams support one another. When his child Elizabeth reached the age of 13 he threw a party of worth $10 million. Bonderman, who has a net worth of $6.8 billion, is the founding partner of San Francisco-based TPG Capital, a private equity giant that managed $80 billion in assets, according to Forbes. An example of Bonderman's good fortune in business occurred in August, when he reaped a profit of $425 million -- or roughly two-thirds the cost of the NHL expansion franchise -- from the sale of . He was also a member of the Harvard Law Review and a Sheldon Fellow. He was born to a Jewish Family and took graduation from Washington University in Phi Beta Kappa in 1963. That was a record for the firm, so Bonderman, who is known for his rock and roll parties, threw a private bash in March to celebrate, renting San Francisco City Hall and hiring the B-52's rock . His principles of working were the base foundation that created the TPG Corporation. He is one of the top billionaires in America and the Co-founder of TPG Capital. While the fellowships share the same name (the Bonderman Fellowship), they vary in both eligibility and execution. Bonderman donated $1000 to each guest's charity of choice.[23]. David Bonderman (born November 27, 1942) is an American billionaire businessman. At. While the fellowships share the same name (the Bonderman Fellowship), they vary in both eligibility and execution. The team has made groundbreaking hirings including Alexandra Mandrycky and Namita Nandakumar on the research and strategy side of hockey operations, Cammi Granato now assistant general manager of the Vancouver Canucks as a pro scout, and radio voice Everett Fitzhugh as the NHLs first Black play-by-play announcer. This shows the commitment and dedication by the Bonderman family to the Kraken and the Seattle community. I dont feel at all like stepping into the boys club here. he asked. David was born in Los Angeles, California, U.S. on 27th November 1942. Bonderman's wild ways forged TPG. Its now been a year since Holloway became co-owner of the Seattle Kraken. Around March 2020, with the funds in a tailspin, Velissaris sought a $100 million loan from the owners of Infinity Q Capital Management, the SEC said. David is having a total Net Worth of $2.5 Billion. [22], In 2012, for his 70th birthday party, Bonderman held a private concert by former The Beatles member Paul McCartney at Wynn Las Vegas for 1,020 guests. He was also a recipient of the 'Sheldon Fellowship.'. And Jen Cohen serves as athletic director at the University of Washington. Mr. Bonderman currently serves on the following public boards: Allogene . An email to the fund's trustees was not returned. In 1983, he joined the 'Robert M. Bass Group, Inc.' and rose to the position of the companys chief operating officer. Thereby thanks a lot, very clueless dude proving the point. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, Stock Traders Are Ignoring Blaring Bond Alarms, iPhone Maker Plans $700 Million India Plant in Shift From China, Russia Is Getting Around Sanctions to Secure Supply of Key Chips for War. While the . The loan was not made. Number of Exits 4. 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Before starting TPG he was working with Arnold and Porter, a law firm in 1992. New York-based Infinity Q Capital Management, LLC was founded by James Velissaris in 2014.