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Frank Adams' Grotech enters VC's top ranks
The biggest deal of Frank A. Adams' life nearly passed him by.
Last year, when fledgling USinternetworking Inc. began its search for private equity capital, Adams, CEO of Grotech Capital Group, hesitated until he could find out more about the Annapolis-based company's obscure technology and the market it wanted to enter.
When Grotech, the Timonium-based venture capital company Adams founded in 1984, refused to commit to investing, USinternetworking CEO and founder Christopher R. McCleary hit the road looking for venture capital.
"I probably encouraged Chris to do a national search, and he got offers from the creme de la creme of the private equity world," Adams said.
There were bigger offers, but in the end Adams pulled together a group of investors willing to sink $33 million into McCleary's unproven company. Adams rounded up equity from Grotech, Blue Chip Capital, Massey Burch Group and Venrock Associates. US West Communications …