[6] He built this into the largest manufacturer of exothermic chemicals for foundries and steel mills in the U.S. and subsequently merged the company with its British licensor.

[8] Morgenthaler served as a director, president, or chairman of more than 30 companies during his career, ranging from startups to billion-dollar multinational corporations and in industries including metal fabrication, chemicals, information technology, life sciences, and others.

[9] He served as an advisor to the Brentwood Associates Funds, a limited partner of Hambrecht & Quist, and as vice chairman of the Edison Biotechnology Institute.

[10] Morgenthaler served as one of the founding directors of the National Venture Capital Association (NVCA)[6] and served as chairman of its Incentives Committee, working with the United States Congress to improve conditions for venture capital and entrepreneurship.

He was president and, subsequently, chairman when the Steiger Amendment to the Revenue Act of 1978 was enacted, resulting in a roll-back of the capital gains tax from 49% to 28%.

Under his leadership, NVCA was also able to amend the Prudent Man Rule of ERISA to allow pension funds to invest in venture capital and to liberalize conditions for public offerings for small companies.

An opponent of discrimination, he was acting chapter chairman of the Cleveland Chapter when the first Jewish member was admitted, and he was national membership chairman with the power of final decision when the first African-American was admitted into YPO.