Silicon Prairie News

A two and half year weekly commute from Nebraska to Chicago likely means you either love the former or can’t pass up an opportunity in the latter. For John Gustafson, managing director and founder of Ideation Ventures, it was both. Nebraska remained his residence and Chicago his graduate school destination.

After receiving an accounting degree from UNL, Gustafson earned a position with the small venture capital fund he had interned with as an undergraduate, Heartland Capital Management. He stayed on for seven years, gaining in-depth experience in the industry.

During that time, he also completed the three-year Chartered Financial Analyst process and began commuting to earn his MBA (Management and Strategy) from the Kellogg School at Northwestern University. Besides his classes, homework, and work with early stage companies in the fund, he had a wife and one-year-old daughter, and soon, a new gig.

In 2001, Gustafson became a principal at Odin Capital Group, a venture capital firm in Omaha. Four years later, he transitioned to a Venture Partner role, allowing him to work part-time with his portfolio companies as well as pursue his own ambitions.

In February of 2005, Gustafson founded Ideation Ventures, bringing together his experience from both sides of the table:

Ideation Ventures provides corporate advisory and investment management services, drawing on management's experience and networks in venture capital and private equity. The firm consists of two entities. Ideation Partners, LLC assists early and growth stage companies with corporate advisory services. Ideation Capital Management, LLC works with investors (individuals and institutions) in building and managing portfolios of private investments.

Check out my interview with John, in which he talks about why he choose to enter venture capital, how he approaches it at Ideation Ventures, and how he thinks it will fare in today's economy, as well as a bit of advice for entrepreneurs.