LANSING – Gov. Rick Snyder Friday appointed Peter Cracchiolo, vice president of Masco Capital Corporation, to the Michigan Early Stage Venture Investment Corporation Board of Directors. The board?s goal is to promote investment in venture capital businesses that help small Michigan businesses grow.
?The key to reinventing Michigan is to create an environment where entrepreneurs can turn their ideas into small businesses,? Snyder said. ?I am confident Peter?s experience will help the state attract the venture capital needed to help those small businesses grow into successful companies that provide jobs.?
Cracchiolo, of Grosse Pointe Shores, directs Masco?s alternative investment programs both the pension and corporate accounts of Masco. He is a member of the Fund Advisory Boards of EDF Ventures, RFE Investment Partners, and Gazelle TechVentures Fund. Cracchiolo also serves as vice chair of the St. John Health Foundation Board and as a director at The POM Group. He is the former director of Liberty BIDCO Investment Corporation and Great Lakes VIDCO. Cracchiolo earned a bachelor?s degree in accounting from Michigan State University.
Cracchiolo will serve a three-year term expiring June 13, 2014, and replaces Gerry Boylan. His appointment is subject to the advice and consent of the Senate.
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