Henry L. Hillman, Businessman and Philanthropist, Dies at 98

(Bloomberg) -- Henry L. Hillman, whose diversified investment company was a founding investor in the first funds of Kohlberg, Kravis and Roberts and Kleiner Perkins, has died. He was 98.

Hillman, son of Pittsburgh industrialist John Hartwell Hillman Jr., passed away Friday evening, his daughter Audrey Hillman Fisher said, according to a statement on Business Wire.

He became one of the largest venture capitalist investors in the U.S. in the early 1980s after taking stakes in companies including Genentech, Hybritech, and Tandem Computer. Hillman was also a director for businesses ranging from General Electric to Merck and Texas Gas Transmission.

Hillman stepped down from active management of The Hillman Co. in 2004, taking a role in the family’s philanthropic activities. He graduated from The Taft School and Princeton University, serving in World War II as a U.S. Navy aviator before returning to Pittsburgh and transforming the family business.