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Teakwood strengthens firm with three hires

Stu Bell was hired as a managing director from Comerica, and David Sikora and Dave Ellett join the Texas-based firm as executive partners.

Teakwood Capital has hired three executives to help the growth of its portfolio, the firm said.

Stu Bell joins Teakwood as managing director of business development from Comerica Bank, where he served as senior vice president in the technology and life science office. He has worked with companies in these sectors providing senior debt and treasury management solutions, the firm said.

Bell had previously worked at Zilliant and Bank One, according to his LinkedIn.

David Sikora joins Teakwood as an executive partner. He has been chief executive of public and venture-backed private companies, including Pervasive Software and Digby, has raised over $100 million in VC and public equity, and has participated in exits and initial public offerings, the firm said.

Dave Ellett was also hired at Teakwood as an executive partner. Ellett is chief executive at RemitDATA and has been president of Belo Interactive Media. He has also served Oracle as vice president of worldwide education.

Teakwood, based in Texas, invests in technology-focused companies with maximum revenues of $25 million. It manages $152 million in assets, according to PEI’s Research & Analytics division.

In March 2014, the firm held a final close of its Teakwood Capital III Fund on $90 million, surpassing its $75 million target. The University of Texas Investment Management Corporation. (UTIMCO) committed $50 million to the fund, according to PEI Research.