Breakfast with Terry Cross

Breakfast with Terry Cross

Biographical Comments: Terry Cross After graduating from Wayne State University with an MBA in Finance in 1966, Mr. Cross entered the machine tool business in Detroit, Michigan, with The Cross Company, (publicly traded) the world’s leader in Automated Machine Tools. From 1964 through 1968, Mr. Cross worked in many departments of The Cross Company, learning the business from the ground up.

In 1968, Mr. Cross started his own company, CP Systems Company specializing in high-speed, small parts, automated assembly machinery, and built it up to an annual revenue base of $ 10.0 million. In 1972, Mr. Cross sold CP Systems Company to Chicago Pneumatic Tool Company, a NYSE listed company.

Mr. Cross entered the securities business in 1972 through a training program with Eastman Dillon Union Securities. In 1974, Mr. Cross joined Kidder, Peabody & Company in their Detroit, Michigan office and remained there until 1985 when he was transferred to Kidder’s flagship Park Avenue office in New York City. In 1985, Mr. Cross was elected a Senior Vice President and shareholder of Kidder, Peabody & Company. In 1988, Mr. Cross was a transferred to Kidder’s San Francisco office and remained there until 1998. During his years in San Francisco from 1989 until 1998, he focused almost entirely on the companies and venture capital firms in Silicon Valley. In 1995, Kidder was acquired by PaineWebber. Mr. Cross retired from PaineWebber in July of 1998 to pursue private investments. In February 2000, Mr. Cross co-founded Sonoma Photonics, Inc in Santa Rosa, CA where he served as CEO and Chairman until he resigned to return to Michigan in August 2002. During his tenure, Mr. Cross spearheaded the development of the business plan and raised $ 10.7 million in venture funding from domestic and European investors. Sonoma Photonics continues to operate in Santa Rosa, CA despite the drastic downturn in the worldwide telecom market. In August 2002, Mr. Cross returned to Michigan and is currently the founder of Windward Associates, a venture consulting business.

Mr. Cross’ past board memberships include: G2 Networks, Inc. of Los Gatos, CA, Safari Technology Inc. of Lawton, Michigan, GCB Technologies of San Jose, CA, InGenius Technologies of Kalamazoo, MI., Wordenglass Inc. of Kalamazoo, MI., Machine Vision International of Ann Arbor, MI, and Inivest of Detroit, MI, and Triumph Resources of New York City.

Mr. Cross was a founding investor of three companies resulting from MIT’s Technology Transfer Department: Intellitec, Axiomatics, and LNL Technologies. He served as a board member for Axiomatics and Intellitec. He was also a member of MIT’s Laboratory for Manufacturing and Productivity. He has served as a financial advisor to Triscend Semiconductor of Mountain View, CA, Macropore Corporation of San Diego, CA. and All-American Semiconductor of San Jose, CA.

He currently serves as a Director of Municipal Financial Consultants, Inc. of Grosse Pointe, MI., as Nonexecutive Chairman of The Board for IMX Solutions of Royal Oak, MI, and as a Director of Green Daisy of Grand Rapids, MI.

Since 1962, Mr. Cross has invested in forty private companies. Among the more well known are Novell, DSC Communications, Inktomi, Warehouse Club, PayPal, Napster, and he was a first round investor in Google.

Mr. Cross was named The Distinguished Alumni in 2005 by The School of Business Administration at Wayne State University where he is also their first Executive in Residence. He also serves of the Business School’s Board of Visitors and on The Critiquing Committee for their Entrepreneur Program. He also administers the prestigious Adams Family Fellowship for Entrepreneurship at Wayne’s Business School.

He is currently a Board member of Great Lakes Angels, a founding member of Michigan Venture Capital Association, a Board member of Automation Alley’s Entrepreneurial Initiative of Southeast Michigan, a former Trustee of Mariners’ Church of Detroit, and an inactive trustee of The Professional Children’s School of New York City.

Breakfast with Terry Cross
Friends for Animals of Metro Detroit

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