The Power of Ideas: Jeff Fagnan
Venture capital titan Jeff Fagnan has been a dynamic power player in Boston’s tech and startup communities—and now he’s looking to bring his transformative vision to our philanthropic scene. In 2006, he launched Technology Underwriting Greater Good (TUGG) as a fundraiser for local nonprofits. (This year’s annual wine party raised $400,000 for organizations helping local kids.) But over the past year, TUGG has grown into a platform to connect Boston’s booming tech companies with nonprofit startups. Not only is TUGG raising money on its own, it’s also helping nonprofits find angels of their own in the tech world who can fund them directly.
Earlier this year, Fagnan split amicably from Atlas Venture, forming a technology-focused investment firm with three former Atlas partners. The new company, called Accomplice, invests only in local startups. At the root of both Accomplice and TUGG is Fagnan’s commitment to fostering community—it’s what he thinks is part of Boston’s competitive advantage over the Silicon Valleys of the world.