Benno C. Schmidt, Sr.

Who was Benno C. Schmidt, Sr.?

Benno Charles Schmidt, Sr. was an American lawyer and venture capitalist who was active in New York City civic affairs and played an important role in the initiation of the War on Cancer.

Born in Abilene, Texas, Schmidt grew up in that city in a household that was not financially well-off, but placed an emphasis on education. His father died when he was 12, so his mother's job as a secretary supported the family.

Schmidt was educated at the University of Texas, where he received both his A.B. and law degrees in 1936. At Texas he was a member of Delta Kappa Epsilon fraternity and the Texas Cowboys. After receiving his law degree, he spent time as a member of the Texas law school faculty and at Harvard Law School as a Thayer Teaching Fellow. In 1942, following the United States' entrance into World War II, he enlisted in the U.S. Army. During his military service he rose to the rank of Colonel and was awarded several medals, including the Legion of Merit and Bronze Star Medal.

In late 1945, Jock Whitney invited him to join a new business he wanted to start to finance new companies seeking to capitalize on newly identified markets and social needs.