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Gov. Snyder makes reappointment to Early Stage Venture Investment Board

Friday, June 13, 2014

LANSING, Mich. – Gov. Rick Snyder today announced the reappointment of Peter Cracchiolo, of Grosse Pointe Shores, to the Early Stage Venture Investment Corporation Board.

Established in 2003, the seven-member board encourages a healthy economic climate by fostering job creation, retention and expansion through the promotion of investment in venture capital businesses, specializing in early stage and seed investments. Two of the board positions are filled through recommendations to the Governor from the Senate Majority Leader and Speaker of the House.

“Peter has been a tremendous asset to the board and I look forward to his continued contributions,” Snyder said.

Cracchiolo is president of Masco Capital Corp. and director of investments for Masco Corp., where he oversees investment programs for the company’s pension and corporate accounts. He is a member of the Fund Advisory Board of Renaissance Venture Capital Fund and EDF Ventures, a board member for St. John Providence Health System – East Region, and the St. John Health System Foundation. Cracchiolo earned a bachelor’s degree in accounting from Michigan State University.

Cracchiolo will serve a three-year term expiring June 13, 2017. His appointment is subject to the advice and consent of the Senate.