Case | HBS Case Collection | April 1999 (Revised November 1999)

Columbia Capital Corporation: Summer 1998

by G. Felda Hardymon and Justin D. Wasik


In August 1998, the partners of Columbia Capital in Arlington, Va. made a decision about whether or not to raise an outside fund for venture capital investing. Columbia had begun in 1988 as a boutique investment bank focused on the telecommunications industry, but had over its history become progressively more involved in making direct private equity investments; from 1994-98, the firm made over $100 million in such investments. Unlike traditional venture capital firms, however, Columbia made these investments entirely with its partners' own personal money.

Keywords: Decisions; Venture Capital; Private Equity; Partners and Partnerships; Investment Funds; Banks and Banking; Financial Services Industry; Telecommunications Industry; United States;


Hardymon, G. Felda, and Justin D. Wasik. "Columbia Capital Corporation: Summer 1998." Harvard Business School Case 899-255, April 1999. (Revised November 1999.)