Bill Janeway Warburg Pincus xVice President and Partner

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Cornell Financial Engineering Manhattan Future Of Finance 2022 Speaker Profile: Bill Janeway Warburg Pincus xVice-Chair & Partner

Full conference agenda

Early life and education

Bill Janeway was born on May 3, 1943 in Manhattan, the second son of Elizabeth Janewayauthor and critic, and Eliot Janeway, political economy columnist. He attended Trinity School in New York, from which he graduated as valedictorian of the class of 1961, and princeton universityfrom which he graduated as valedictorian of the class of 1965. He received a Marshall Scholarship to University of Cambridgewhere he registered Pembroke College and earned a doctorate. in Economics in 1971. His doctoral dissertation, entitled “The Economic Policies of the Labor Government 1929-1931” was supervised by Professor Lord Kahn.

Investment career

In 1970, Janeway joined F. Eberstadt & Co., Inc., the investment bank founded by Ferdinand Eberstadt. In 1979, he was promoted to director of corporate finance. In 1985, F. Eberstadt was taken over by Robert Fleming & Co., the investment bank and investment management company in London. Janeway served as director of corporate finance for the resulting U.S. subsidiary, Eberstadt Fleming & Co., Inc., until 1988.

Capital risk

Janeway joined Pincus de Warburg, the private equity firm, in 1988 leading its high-tech investment team. The company’s high-tech investments during the 1990s focused on information and communications technology, and after 1991 increasingly focused on enterprise software.

In 1992, the company financed the launch of OpenVision Technologies, which would later merge with VERITAS software in 1996. In 1999, Warburg Pincus was also the founder and sole investor of BEA systems.

Warburg Pincus eventually distributed its positions in both companies to its limited partners, realizing total returns of $750 million in VERITAS stock and $6.5 billion in BEA stock on investments of approximately $50 million each.

In 2006 Janeway retired as vice president of Warburg Pincus. He remains a special limited partner.[4]

To research

In collaboration with Michael McKenzie of University of Sydney, Janeway has conducted research on venture capital returns. He was a visiting teacher at princeton universityeconomics department in 2012.

Work on innovation

Janeway reconnected with academic economics through her friendship with Hyman Minsky which began in the mid-1980s. Janeway’s paper, “Doing Capitalism: Notes on the Practice of Venture Capitalism,” presented at the annual meeting of the Association for Evolutionary Economics in December 1985, was commissioned by Minsky.

Current positions

Janeway is a special sponsor of Warburg Pincus. Janeway is a director of Magnet Systems and O’Reilly Media. He is an affiliate member of the Faculty of Economics of Cambridge University.

Janeway is co-founder and member of the Board of Governors of the Institute for New Economic Thought. He is a member of the board of directors of the Social Science Research Council and the Princeton Advisory Board Bendheim Center for Finance. In addition, he is a member of the Governing Board of the Cambridge Institute-INET at the University of Cambridge and a member of the Board of Trustees of the Cambridge Endowment for Research in Finance (CERF). He is a member of the board of directors of the Fields Institute for Research in the Mathematical Sciences. Finally, he is the author of Doing capitalism in the economy of innovation: reconfiguring the game of three between markets, speculators and the statepublished by Cambridge University Press in 2012.

Philanthropic work

Janeway and his wife, Weslie Janeway, established the Cambridge Endowment for Research in Finance in 2001 and funded the annual Princeton-Cambridge Finance Seminars in 2004.

Private life

In 1985 Janeway married Weslie Resnick, Vice President of F. Eberstadt & Company, in a non-denominational ceremony in New York City. It was his second marriage.

Honors

In September 2012, Janeway received an honorary award Commander of the Order of the British Empire (CBE) “for services to education in support of the University of Cambridge and to UK/US relations“. Additionally, he is a recipient of the 2017 Marshall Medal from the Marshall Aid Commemoration Commission.

Janeway’s Book make capitalism was included in Foreign Affairs’ 2012 “Best Books on Economic, Social and Environmental Subjects” list, as well as the Financial Times “Best Books of 2012”.

Works

  • WH Janeway, Doing capitalism in the economy of innovation: markets, speculation and the state (Cambridge University Press, 2012; fully revised and updated version, Cambridge University Press, 2018)
  • MD McKenzie and Janeway, WH, “Venture Capital Funds as an Alternative Category of Investment” in Asset management: tools and strategiesJune, (London: Bloomsbury Publishing Company, 2011)
  • WH Janeway, “Doing Capitalism, Revised and Extended” in W.Drechsler, Kattel, R. and Reinert. ES (ed.), Techno-Economic Paradigms: Essays in Honor of Carlota Perez(London: Anthem Press, 2009)
  • WH Janeway, Introduction, in NR Lamoreaux and Sokoloff, KL (eds), Financing Innovation in the United States, 1870 to the Present. (Cambridge MA: MIT Press, 2007)
  • WH Janeway, “Technology and Value”, Social research. 64(3) 1327-1331 (1997)
  • WH Janeway, “The Sterling Crisis of 1931 and the Independence of the Bank of England”, Journal of Post-Keynesian Economics. 18(2) 251-268 (Winter 1995-19960 (from Wiki)

Full Conference Agenda

Cornell Financial Engineering Manhattan Future Of Finance 2022 Speaker Profile: Bill Janeway Warburg Pincus xVice-Chair & Partner

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