At the heart of every Darden success story is the indelible mark of its faculty. Adair B. Newhall’s (MBA ’09) journey from Darden’s classrooms to his pivotal role as a partner at StepStone Group attests to this influence. As he assumes the chair of Faculty Forward, Milestone II of the Powered by Purpose campaign, we delve into his Darden experiences and the mentors who steered his path.

Who are the faculty members who influenced you during your time at Darden?

I have three. First, Ed Freeman was instrumental in expanding my thought process. He taught me not just ethics but also how to communicate effec­tively and precisely. Second, the late Susan Chaplinsky was immensely sup­portive outside of class. Her mix of humor, deep analysis and Midwestern sensibilities made her stand out. Lastly, Brandt Allen had a significant im­pact on me. Even though I didn’t aim to become an accounting professional, his encouragement and our personal relationship meant a lot.

What motivated you to take on the chair role for Faculty Forward?

The quality of the people at Darden influenced my decision. I’ve had posi­tive interactions with key figures like Jim Cooper (MBA ’84), chair of Mile­stone I, and Dean Beardsley. My passion for teamwork, which I nurtured during my time playing baseball in college, makes me value collaboration and collective achievements.

What does it signify for Darden to reach the $400 million Milestone I goal ahead of schedule?

The campaign’s success underscores the strength of our leadership. Despite initial doubts about achieving our goal within the set timeline, we trusted the process, realizing that many care deeply about our community. They simply needed the right engagement approach. In the startup world, leaders set seemingly impossible tasks, providing regular feedback and KPIs. They guide you step by step through these challenges. Similarly, this campaign’s success is a result of such leadership. Though we might not foresee every detail, I’m confident we can achieve even greater goals in the future.

Why focus on faculty for Milestone II?

The caliber and dedication of our faculty are what truly distinguish Darden from other business schools. At UVA, not only did I receive a top-notch edu­cation, but I also felt empowered. I organized a venture summit while man­aging my coursework, and throughout, I experienced unwavering support and invaluable training from my professors. Recognizing that I’ve benefited from those who came before me, I now feel it’s my turn to give back and play my part in advancing our community’s mission.

How did your experience at Darden influence your career journey?

My career ambitions were bifurcated: I aspired to either be a Major League Baseball player or become a venture capitalist. The latter prevailed. Every career move I made was deliberate, from investment bank­ing in San Francisco, joining startups in life sciences, attending Darden for my MBA, engaging in company creation in San Diego in the healthcare sector to my tenure at Greenspring Associates and now the Step­Stone Group.

Venture capital, for me, is not just about financing but fostering lasting relationships that can span gen­erations but are fragile enough to be broken in one exchange. My family’s venture capital legacy dates back to the 1950s, and I’m passionate about further­ing that legacy by generating goodwill and paying things forward.

Being a part of Darden has its unique benefits. It immerses me in research and exposes me to the next wave of talent. The energy and innovation I witness among the students are invigorating. I relish the opportunity to mentor and guide those who might be newcomers to the venture capital space, steering them toward successful ventures and startups.

Since you brought up baseball, is there an accom­plishment you’re proud of?

During my junior year, I set the state record with 41 RBIs and hit seven home runs. This achievement was notable especially when Mark Teixeira was rising as a baseball star, and we played against his team multiple times a year. However, my record was surpassed within a few years, and it feels like my accomplishment has faded. I’m immensely proud of that time, as I was driven, had wonderful teammates, and a dedicated coach. Success often boils down to team dynamics and culture, which can elevate one’s abilities beyond expectations. In my professional journey, I aim to emulate this experience, being a good teammate, collaborating effectively and deliver­ing consistent results.

Dive Deeper

Originally featured in the Fall 2023 edition of Pillars magazine, this story is just the beginning. Read more about Faculty Forward, Milestone II of Darden’s Powered by Purpose campaign.