August Capital
Andy Rappaport, partner
Tech Positive: Repair U.S. reputation
Tech Negative: Ignore poverty, healthcare, education
Party: Democratic
Tech Favorite: N/A
Prediction: Obama
Funding: Firm, None. Personally, $2300 to Obama.
Menlo Park, California-based August Capital was founded in 1995. Focusing on early stage technology companies, the firm currently has more than $1.3 billion under management. Mr. Rappaport serves on the boards of Atheros Communications, Broadlogic Systems, Luxtera, Magnum Semiconductor, MicroDisplay, Scintera, Tzero, Unity Semiconductor, and Ubicom. Along with his wife, Deborah Rappaport, he founded Skyline Public Works, which takes a venture capital approach to political philanthropy by investing in progressive entrepreneurs.
August Capital partner Andy Rappaport spoke with Red Herring about his presidential pick for 2008’s Super Tuesday.
What would you like the next U.S. president to do to benefit tech companies?
Technology companies depend upon a stable, educated, healthy work force. So to the extent that we have increasing concerns around healthcare, poverty, education, etcetera, this is affecting our ability to find, recruit, and maintain a suitable work force.
We have a crumbling infrastructure. We’ve been shortchanging investment and infrastructure in the United States to a terrific degree—whether it’s energy infrastructure for greater energy independence or physical infrastructure for moving things around, roads, airways, etcetera.
What’s something a president could do that would harm the U.S. tech industry?
The things that I would want the next president to not do are not necessarily things that narrowly affect the technology companies, so much as, 'Gee I would hate for the next president to not think about a different mode of international engagement for the country; I would hate for the president to not think about addressing the issues of increasing income disparity and poverty and affordability of healthcare.' My belief is that tech companies are now far more powerfully affected by general things that are happening than by the narrow items that have formed our agenda for the last twenty or thirty years.
Do you have a favorite candidate?
My favorite candidate was John Edwards. We were working fairly aggressively for him because of his position on the issues that I mentioned and our belief that he would do the right things and not do the wrong things. With him out of the race, I’m a very enthusiastic Obama supporter.
Which candidate are VCs are most excited about?
It’s been hard to discern a trend. I think that the VC community has become increasingly heterogeneous and so I have encountered supporters of all of the candidates on both sides among my peers.
Prediction?
I predict that McCain will be the Republican nominee. I think it’s very hard to predict at this moment who the Democratic nominee will be.
My feeling is that Obama stands a far better chance of beating John McCain. In fact, I think that if the general election was held today Obama would beat McCain in a landslide. If it’s Clinton and McCain, I think it’s going to be an unpredictable fight.
Has your company made any campaign contributions?
August Capital has not given any financial support to the candidates. This would be prohibited by law, as only individuals and PACs can make contributions to Federal candidates. August capital, as a matter of policy, does not make any political contributions, even when they are allowed, leaving that to us partners as individuals.
I have given the maximum $2,300 to Obama for the primaries, the same as I gave to Edwards for the primaries. I also gave Edwards $2,300 for his general election campaign.