Our Story & Team

From Texas Vision
to National Impact

Texas leaders understood something fundamental: economic prosperity flows from strategic investments in education and research. They built a $2 trillion economy — home to more than 50 Fortune 500 companies and the 8th largest in the world — by investing in universities and research institutions that produce the brainpower driving innovation in technology, energy, healthcare, aerospace, and advanced manufacturing.

The Alternatives Foundation was born from this insight. Founded in Texas and now serving institutions nationwide, we turn illiquid assets into philanthropic capital that strengthens the universities and research organizations powering America's innovation economy.

We specialize in converting stakes in limited partnerships, general partnerships, and privately held businesses into support for transformative education and research. We are building a billion-dollar fund of closely-held shares in America's most prized ventures and partnerships. By contributing illiquid assets through TAF, donors join a network of the nation's most successful investors, founders, owners, and operators.

Leadership

Founded and led by operators and investors

Jarett Rodriguez
Founding CEO & Executive Director

Jarett Rodriguez

Serial entrepreneur and institution-builder with 25+ years founding and scaling companies across multiple states and in multiple industries — including two that earned multiple appearances on the LSU100. After an exit, he built LSU's Stephenson Entrepreneurship Institute into a self-sustaining entity, served as a mentor for the Entrepreneurship Bootcamp for Veterans with Disabilities, launched the Entrepreneurship Fellows Program, and worked closely with the Chancellor to identify new revenue opportunities. He's helped scale fast-growth companies nationally and globally, including impact-driven work in Australia. His advocacy for entrepreneurship on Capitol Hill earned personal recognition as "a catalyst for change" from President Obama.

Philip Sanger, M.D.
Co-Founder & Managing Partner

Philip Sanger, M.D.

Physician-entrepreneur with 30+ years at the intersection of medicine, managed care, and technology. Former Chief of Pulmonary Medicine at Texas Tech, he founded Intercede Health in 1997—growing it from a three-person startup to a medical management company serving 1M+ patients—and co-founded HealthSpring, which IPO'd in 2006 and was acquired by Cigna for $3.8 billion in 2011. Founder of the Sanger Learning Center at UT Austin; current boards include Televero Health, Precedent Health, and Employer Direct.

Rudy Garza
Co-Founder & Managing General Partner

Rudy Garza

Founder and Managing Director of G51 Capital Management, one of Texas's most active early-stage venture investors since 1996. Syndicated $300M+ alongside Bain Capital, Polaris, and Foundry Group, with portfolio companies acquired by Cisco, ADP, SAP, and Prudential. Founder of the G51 Amplify Venture Scholars Program across 13 graduate schools with 200+ alumni; former Chairman of the UT Alumni Association (100,000 members) and lifetime honorary trustee of Dell Children's Medical Center.

Scott Holstead
Managing Director

Scott Holstead

Managing Director and Wealth Partner at J.P. Morgan Wealth Management with 25+ years advising ultra-high-net-worth individuals, multi-generational Texas families, and C-suite executives on single-stock monetization and generational wealth transfer. Co-founder of SGH Group; founding member of J.P. Morgan's Houston office. Began his career at the U.S. Treasury Office of Tax Policy and the George H.W. Bush White House. Named FT 400 Top Financial Adviser; ranked among Barron's America's Top 1,000 Advisors.

Kerry Hall
Banking Executive • Susser Bank

Kerry Hall

Retired banking executive with 35+ years of Texas financial leadership, including 17 years as Austin Market President of Texas Capital Bank—the institution's second Austin employee. Named 2025 Austinite of the Year; served as Interim CEO of the Greater Austin Chamber of Commerce in 2023. Former chair of Opportunity Austin and the Austin American Heart Association; appointed to Texas One by Governor Rick Perry. Current board member, Susser Bank and Texas Business Hall of Fame.

Brent Iverson, Ph.D.
Distinguished Teaching Professor

Brent Iverson, Ph.D.

Distinguished Teaching Professor of Chemistry and Biology at UT Austin, where he served nine years as Dean of Undergraduate Studies. Researcher in molecular systems, vaccine and therapeutic design, and materials science; co-author of the leading Organic Chemistry textbook (9th edition, Cengage). Board member of the Research Corporation for Science Advancement and Kesem, which supports children of cancer patients across 130 campus chapters nationwide.

Jeff Nash
President & COO

Jeff Nash

Austin native with a 30+ year career spanning commercial banking, venture capital, and executive leadership. Rose from Texas Commerce Bank to EVP and President at First Interstate Bank–North Austin, then served as COO of a venture-backed firm, led a marketing company to a Fortune 1000 acquisition, and executed a turnaround resulting in a Fortune 500 division sale. Former Vice Chair of the Greater Austin Chamber, United Way co-chair, and 18-year board member of the Star of Texas Rodeo (President, 1994). BBA and MBA, UT Austin.

John T. Rippel
Managing Partner

John T. Rippel

Founding Partner and former Chief Investment Officer of Alliance Residential Company, one of the nation's largest multifamily developers, with a career spanning 40+ years and 100,000+ units. Previously served as President and COO of Gables Residential following its 1994 IPO; earlier led south Texas operations for Trammell Crow Residential. Began his career as a CPA at Kenneth Leventhal & Company (now Ernst & Young). BBA, UT Austin.

Joe Milam
Founder

Joe Milam

CEO of AngelSpan and a 30+ year veteran of investment management and early-stage finance. Founded Legacy Capital Management in 1993, growing AUM from $35M to $200M while serving high-net-worth clients alongside firms like Sequoia Capital and Silicon Valley Bank at 3000 Sand Hill Road. Subsequently founded Angel Legacy LLC, one of the earliest angel-entrepreneur matching platforms. Recognized as a leading authority on angel investor psychology, portfolio management, and alternative market structure.

Raleigh Dewan
Partner

Raleigh Dewan

Entrepreneur and investor who has founded and exited three companies across CPG, SaaS, and MedTech. Manages the venture portfolio at Greenwood & Cavalier and advises family offices on private-market strategy. Creator of SteadiSpoon, a patented assistive device featured on Fox News, NBC, and The Dallas Morning News. National Academy of Engineering Grand Challenges Scholar, Coca-Cola Scholar, and Texas Business Hall of Fame Future Business Legend.

50+ Members

Our Advisory Board

Our advisory board brings together investors, operators, attorneys, bankers, and academics from across the country — united by a shared commitment to the advancement of education and research.

Dick Benkendorf
Managing Partner • Technology Impact Partners • University of Notre Dame
Locke Braly
President • Integral Properties Inc. • University of Texas
Christy Cardenas
Founder • Iris Invest • University of Texas
Gus Cardenas
President / CEO / Co-Founder • Austin Healthcare Council • University of Texas
Melford Carter
Principal, Private Equity • GCM Grosvenor • University of Texas
Quan Cosby
VP Risk Management • Marsh & McLennan • University of Texas
Art DelVesco
Art DelVesco
DelVesco Family Investments GP, LLC
Sonia Desai
Partner • Weaver • University of Toronto
Jason Downie
Co-Founder & Managing Partner • Tailwater Capital
Stephen Dyer, JD
Partner, Section Chair – Private Clients • Baker Botts • University of Texas / UT School of Law
Alan D. Feld
Partner • Akin Gump Strauss Hauer & Feld • SMU / Columbia Law School
Lynne Fowler
Founder • Astera Group • University of Texas
Jeffrey Hamilton, JD
Partner • The Blum Firm • University of Texas / SMU Dedman School of Law
Mike Harder
Consultant • Consulting Harder • Baylor University
Boyd Heath
Co-Founder and CFO • Rockcliff Energy • University of Texas
Craig Hester
Principal, VP, Portfolio Manager • Luther King Capital Management • University of Texas
Wayne Hollingsworth
Member • Ambrust & Brown • Baylor University / Baylor Law School
Gregg Honigblum
Chief Investment Officer • SINTX Technologies • University of Texas
Mitch Jacobson
TOWER Fellow • University of Texas at Austin • University of Florida
Steven Knebel
Partner • Maxwell Locke & Ritter LLP • University of Texas
Richard Leshin
Partner • Welder Leshin LLP • University of Texas / UT School of Law
Emily Macey
Counsel • Hunton Andrews Kurth • University of Texas / University of Houston Law
Hall Martin
Founder & CEO • TEN Capital Network • Baylor University
Greg Matthews
Founder and Principal • HealthQuant • Lake Forest College
Will Matthews
Vice President Commercial Banking • Truist • University of Texas
Jim McBride
Founder and Managing Member • Blue Sage Capital • University of Texas
Cale McDowell, JD
Partner • Jackson Walker LLP • University of Texas at Austin / University of Texas School of Law
Bill McLellan
Community Activist & Entrepreneur • University of St. Thomas
Mark McMeans
CEO & Co-Founder • Brasada Capital Management • University of Texas at Austin / Rice University
Mark Metcalfe
EVP, Commercial Banking • Susser Bank • University of Texas / UT Arlington
Eric Moreland
Owner • Eric Moreland Group – Moreland Properties • University of Texas / Texas Tech
Seth Morton, PhD
President • Healthcare Velocity Center • Michigan State / University of Freiburg / Rice University
Damon Rawie
Managing Director • Advantage Capital • Wesleyan University / University of Chicago
Gabriel Reyna
Managing Partner • Bandera Capital • Texas State University
Daron K. Roberts, JD
Chief Dive Instructor • Deep End Ventures • University of Texas / Harvard Kennedy School / Harvard Law
Maile Roberts-Loring
Maile Roberts-Loring
Founder • Salt Lick Cellars • University of Texas
Michael Rogala
Private Client Advisor, Senior Vice President • Bank of America Private Bank • Texas A&M University
Meredith Sanger
Senior Vice President & COO • Sanger Investments • University of Texas / NYU
David Sawyer
CEO & Co-Founder • Unlimited.ai • University of Texas / University of Houston Law
Sam L. Susser
Chairman & CEO • Susser Bank • University of Texas
Jimmy Treybig
Founder and CEO • Tandem Computers • Rice University / Stanford University
Paul Walker
Founder and CEO • CrisisCommand • University of Texas
Lucas Walters
Principal • Bridgepoint Consulting • Concordia University / University of Texas
Pete Winstead, JD
Pete Winstead, JD (in memoriam)
Founder • Winstead PC • Stanford University / University of Texas Law School
Darrell Windham
Managing Partner • Dickinson Wright PLLC • University of Texas
Ellen Wood
CEO • vcfo Inc. • University of Texas
Greg Yokum
Executive Director – Senior Investment Advisor • Texas Capital Bank • Harding University / Université de Genève / Carnegie Mellon
Candice Young
Sr. Director of Strategic Partnerships • Harris County • University of Texas / Vanderbilt University