From Houston Business Journal

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Profitable entrepreneur invests in philanthropy
Michael Holthouse focuses on foundation following $375 million sale of technology firm
Houston Business Journal | September 8, 2006 | By Mary Ann Azevedo

Houston entrepreneur Michael Holthouse has transferred his passion for building profitable businesses to developing programs in the nonprofit sector.

In 1997, Holthouse sold computer network services firm Paranet Inc. to Sprint Corp. for $375 million in cash.

He co-founded the computer network services firm six years earlier at the age of 33, and was just shy of his 40th birthday when the sale of the $120 million, 1,400-employee Paranet took place.

Since then, Holthouse has made a name in both business and philanthropic circles.

The entrepreneur took the proceeds from the Paranet sale and founded Holthouse Interests, a company that helps fund early-stage technology companies.

In 1999, he created the Holthouse Foundation for Kids, a nonprofit organization that aims to help at-risk children learn critical life skills.
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