About Ned Grace
Edward P. “Ned” Grace, III is the Managing Director for Grace Venture Partners, LP and Grace Restaurant Partners, LP.
Mr. Grace is President of Phelps Grace International, Inc. an Orlando, Florida-based investment management company. He is also Managing Director of Grace Associates, GP. Mr. Grace is the Founder and past Chairman, President and CEO of The Capital Grille & Bugaboo Creek Steak House chains, which he took public in 1994 (NASDAQ: RARE). Mr. Grace sold his chains to Longhorn Steaks, Inc. in 1996 and was a Director and former Vice Chairman of the combined companies, known as RARE Hospitality International, Inc.. Bugaboo Creek Steak House is a casual dining restaurant with a Canadian mountain lodge theme, with locations throughout the East coast. The Capital Grille is a fine dining restaurant, specializing in dry-aged steaks, with locations in major cities throughout the United States. Mr. Grace formerly owned and founded Hemenway’s Sea Food Grill and Oyster Bar in Providence, Rhode Island (named by Esquire Magazine as “One of America’s best restaurants”); and The Old Grist Mill Tavern in Seekonk, Massachusetts. In 1992, Mr. Grace was elected Chairman of the Board of Homestyle Buffet, Inc., a NASDAQ-listed 34-unit buffet-style restaurant chain, based in Palm Harbor, Florida. Mr. Grace has also owned 5% or greater positions in a number of public companies: Rusty Pelican Restaurants, Perception Technology, NHD Stores, Software Spectrum and Leisure Concepts. Mr Grace founded and owned Rapid Finish Photo, Inc., a photo-finishing retailer that was sold in 1989 to Moto Photo (NASDAQ: MOTO).
Mr. Grace is a Trustee of Johnson & Wales University, where he serves as Chairman of both the Executive and the Investment Committees; and he recently completed nine years as a Trustee of Bryant University, where he also served as Chairman of the Investment Committee. He is a Director of Professional Facilities Management, Inc., Not Your Average Joe’s, Inc., Logan’s Roadhouse Inc., The Gemesis Corporation, and Shawmut Design and Construction. Mr. Grace has served as a Director of the National Restaurant Association in Washington and The National Restaurant Association’s Educational Foundation in Chicago, the National Cattlemen’s Beef Association, Marketing Specialists, Boston Restaurant Associates(NASDAQ:BRAI) and Longhorn Steaks, Inc(NASDAQ:LOHO). Mr. Grace was also a member of the Council of National Trustees of National Jewish Medical and Resarch Center in Denver, Colorado. He is the former Chairman of WSBE-TV36, Rhode Island’s public television station and former Chairman of the Rhode Island Public Telecommunications Authority. He is a past Trustee of the University of Vermont, where he funded an Entrepreneurship Program in the School of Business. He served as the Chairman of Government Relations for the National Restaurant Association in 1996. He was named “Restaurateur of the Year” in 1996 by the International Council of Restaurant Real Estate Brokers. He was also honored by Nation’s Restaurant News as the recipient of their 1996 “Hot Concepts” Award for his Capital Grille concept. He was the speaker in 1997 at The University of Vermont School of Business Commencement and at the Johnson & Wales University commencement in Miami, where he also received a Doctor of Business Administration, Honoris Causa. In June 1999, Mr. Grace was the recipient of The University of Vermont’s Alumni Association’s Alumni Achievement Award. In March 2000, Mr. Grace served as Executive in Residence at the Business School at the University of Central Florida. He served as an Advisor to the Central Florida Technology Incubator, and was appointed by Scotland’s Minister of Enterprise to be a Founding Member of GlobalScot, an international business network for Scotland.
Mr. Grace is an avid skier and graduated cum laude with a Bachelor of Arts from The University of Vermont. Ned and his wife Holly reside in Isleworth in Windermere, FL with their three sons.