Safeguard Scientifics was founded as the Lancaster Corporation by Warren V. “Pete” Musser and Frank A. Diamond as a holding company with the express purpose of engaging directly or indirectly in the development of the high-potential electronics, atomic energy, chemical metal and petroleum industries. The company’s first annual report cited just over $25,000 in profit, worth approximately $218,000 today.

“When we started in the 1950s, there was very little venture capital at work anywhere. Silicon Valley didn’t exist, as we know it today. And the notion of investing in small companies was fairly new.”
— Warren V. “Pete” Musser

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