Princeton University was trying to get its Alumni entrepreneurship fund started. They realized they needed to involve one of their own who understood the value of what they were trying to achieve and at the same someone who had the vision and the means to drive this dream. It is this realization that saw them call on Peter Briger a former student of the University. Peter Briger has studied for his Bachelor of Arts at Princeton graduating in 1984. Peter Briger would then move to work with Goldman Sachs where he rose to become a partner before leaving for Fortress where he is now the Co-CEO.
The Princeton Alumni Entrepreneurship fund is a fund dedicated to the support of upcoming entrepreneurs from the university. Peter Briger and two others raised the initial round of funding that helped actualize the dream. His contribution at the time would end up being more than just financial resources. Peter Briger has always been conscious of the role of entrepreneurs in the growth of the economy as well as the creation of jobs. Having interacted with a number of entrepreneurs and start-ups at Goldman and Fortress, he understands their unique needs at every level. The fund receives proposals from interested groups and individuals with a rule being that for groups there has to be at least one person who was at one time a student at Princeton. The proposals are then submitted to independent panels to review them. Based on the recommendations of the same every individual or group is awarded at least 100,000 dollars to fund their idea as well as being attached to an experienced entrepreneur from their field of expertise to guide them through.
This model has been very successful and has been responsible for a number of applications and products currently doing very well in the market. Peter Briger continues to support this initiative despite his ever-growing responsibilities at Fortress. Today, as the person in charge of Credit at fortress he is responsible for overseeing over 500 employees who work in 14 different locations to ensure that the group continues producing stellar results. As the Co-CEO it means that he also has a bigger responsibility to the entire group. He is the link between the company and the board as well as their new owners the Tokyo-based SoftBank. Briger is however positive about the group’s return to private hands as he sees it as an opportunity to achieve better funding for easier expansion and more