The White House today nominated Nashville venture capitalist Eric Martin Satz to serve for the next three years on the board of the Tennessee Valley Authority.
Satz is managing director of the Tennessee Community Ventures Fund, which focuses on technology transfer and early-stage investment opportunities across a number of industries. Although Satz has no previous experience in the electric utility industry, has has worked on more than $5 billion of mergers, sales and restructuring deals through his career.
After graduating from Amherst College in 1991, Satz began his career as a financial analyst with DLJ before moving to UBS's restructuring and workout group.
Prior to starting TNCV, Satz conceived and co-founded Currenex, a leading online global currency exchange. He started the exchange in 1999 and sold it to State Street in 2007 with a return more than 10 times the initial capital investment.
In 2003, he co-founded Plumgood Food, an online grocery and home delivery business in Nashville.
If confirmed by the U.S. Senate, Satz would serve as one of nine directors on the part-time, policy-making board that governs TVA.
He is filling the seat vacated by Oak Ridge attorney Neil G. McBride, who left the TVA board at the end of 2013.