Venture Capital Partner Flexes Charitable Muscles
EF Connections
Spring, 2002

Wood has a history of flexing his charitable muscles – in both his professional and personal lives. He became involved with the Entrepreneurs Foundation (EF) due to his strong belief that venture capital (VC) firms and startup companies should give back to their communities – and that they reap rewards by doing so.

“VCs are in a unique position of influence. Enabled by EF, it’s easy for us to offer introductions for the companies we back to the world of community involvement,” he explained. “After that, the concept really sells itself. Management loves it and employees feel great about doing it. It’s an easy way to make a big difference.”

According to Wood, community involvement is an easy sell because most people want to contribute, they just don’t know how to get started. “It’s like getting a flu shot,” he explained. “If a company offers free shots to their employees, 80 percent will get them. But if people have to figure out how and where to get the shots on their own, only 20 percent will get them.”

Startup companies gain from getting involved in their communities because participation strengthens their corporate cultures.

Wood believes that these values can help a company to survive against difficult odds. "When you offer employees positive dimensions outside of their day-to-day work, it builds bonds of loyalty between employees and their companies. EF can be a powerful way of doing this.”

Some startup companies may use the down economy as an excuse not to get involved in their communities. Wood said this argument doesn’t hold water as long as the company’s basic financial needs are met and management isn’t worried about near-term survival or in the process of planning major layoffs.

“The reality is that in difficult times, it’s important to build a strong culture and a sense of belonging to a company that cares about both its own people as well as its community,” Wood said. “Even when employees inevitably leave a company, the benefits continue to grow down the road, as employees move to other jobs and take their philanthropic mindsets with them.”

Wood became involved with EF in October 1999, and has since become an indispensable proponent of the organization. In 1999, he helped encourage Sylantro, a Campbell-based software telephony company, to join EF. In 2001, he successfully recruited Vocera Communications, a Cupertino-based wireless technology company, as an EF corporate member. Wood recently spoke about EF and community involvement at a recent Fundraising Forum organized by Gordon Smythe, managing partner of VC firm Propel Partners.

Wood has also promoted EF and garnered more participation within his own firm. As a result, Vanguard partner Bob Ulrich joined the EF North Texas Board of Directors. Several of Don’s other partners are now introducing the organization to their portfolio companies. Don has also introduced EF to several other general partners at other VC firms.

Prior, Wood was president of Metricom and a member of its Board of Directors. He was responsible for advancing the company from a wireless equipment manufacturer into a wireless Internet service now known as Ricochet.

Wood also worked for Octel Communications, Inc., the leader in voicemail systems that has since been acquired by Lucent. He also co-founded Wood-Howard Products, a consumer product publishing company. Early in his career, he worked at the Environmental Protection Agency, and later as a consultant at McKinsey and Co.

Wood earned a master’s of business administration (MBA) degree from Stanford University’s Graduate School of Business, and a bachelor’s degree in economics from Stanford University.

On the personal front, Wood and his family donate to Interplast, a group of doctors that flies to South America to perform surgeries. They also volunteer and donate to the East Side Prep School, Stanford University and four other schools where they have ties.

- Excerpt from EF Connections - Spring 2002
Entrepreneurs Foundation (www.the-ef.org)