Jeffrey Stevenson Recalls the Growth and Evolution of VSS
Managing partner of New York private investment firm VSS, Jeffrey Stevenson, brings to the table over 30 years of experience to the firm. His career had humble beginnings as an associate at Veronis Suhler Stevenson’s predecessor boutique M&A firm in 1982. 5 short years later at the age of 27, Stevenson would be named partner of the relatively small firm. From this moment forward his ideas and influence would cause the company to raise 6 additional funds and to slowly migrate away from specializing in media. In a recent interview, Stevenson shed light on his journey in the financial field. Furthermore, Jeffrey Stevenson shares his perspective on the growth and evolution of VSS.
The Beginning
Jeffrey Stevenson met the founders, John Veronis and John Suhler, shortly after his studies at Rutgers. The firm was unique in the fact that it specialized in media. It was initially successful as an advisor in magazine publishing, radio, and cable TV. Stevenson recognizes how unusual it was for such a young professional to join a firm and manage its first fund. However, it was due to Stevenson’s initiative that the fund was launched, thus it seemed natural for him to oversee. From that moment forward, the small New York M&A boutique grew exponentially despite an economic downfall in 1987.
Strategies and Evolution
The firm experienced substantial growth throughout the 1980s. According to Stevenson much of this growth could be attributed to a two-prong strategy: Organic growth and assembling fragmented industries of television and radio. The strategies proved successful as a second fund was raised, then a third in the late ’90s. Stevenson recounts being named partner in 2001 and by 2005 the firm had closed its fourth fund. But this was a complex time for the firm. Digital technology was encroaching on print media, but according to Jeffrey Stevenson, no-one was quite sure how permanent or deep the change would be. In response, to a changing market, Stevenson found that by 2006 it would be wiser to focus on private equity.
Today, with 24 employees, VSS focuses primarily on structured capital and the core areas of education, information, healthcare, and tech-enabled business services.