Mike Humphrey (Chair of the IBR) co-founded Tanglewood Investments in 1997, a private equity firm focused on hands-on investing in the global manufacturing industry. Over seventeen years Tanglewood acquired 22 businesses which were assembled into five operating groups. These groups were re-envisioned, restored to profitability, and sold to long-term owners.
In 2013, Humphrey also provided the startup capital to form Socratic Ventures LLC, a seed-stage venture capital firm based in Austin, Texas. Socratic’s mission is focused on creating and building new businesses that reduce the cost and improve access to higher education and vocational credentials (www.socraticventures.com). In the past five years, Socratic has started four unique education businesses that have attracted $40 million of growth capital from strategic and institutional investors.
From 2009 – 2018, Humphrey served as Chair of the Prison Entrepreneurship Program, a nationally recognized program developed to bring faith-infused character and entrepreneurship training to men incarcerated in Texas. In its 14-year history, PEP has graduated over 2,500 men and their recidivism rate has been reduced to 7%. PEP graduates have formed 380 small businesses. Responding to invitations from multiple state Departments of Correction, PEP is now expanding nationally.