Private Equity
Roger Chabra has left Canadian venture capital firm GrowthWorks after a three year run, in order to become a partner with Rho Canada. In an email sent yesterday to friends and colleagues, Chabra wrote: "I am excited to be joining such an experienced and successful group of venture investors at Rho. Rho Canada is a leading venture capital firm and is dedicated to backing high-potential, early-stage companies. Formed in 2006, Rho Canada is closely affiliated with Rho Ventures in the US and leverages off Rho Ventures' 25+ years of experience in investing in venture-stage companies. Rho Canada and Rho Ventures are actively investing out of their respective funds today and we continue to seek new deals that fit our investment mandate." Chabra added that he expects to shuttle between Rho Canada's Montreal headquarters and its Toronto outpost. The firm also has a New York office, and raised just over US$100 million for a fund in 2006. I hear that the fund still has plenty of dry powder, but that Rho Canada is pre-marketing a new vehicle with hopes of holding a final close late this year. No official word yet on a target, but it will likely be close to the $100 million mark.
2 min read · 06 January 2010
Originate Ventures has promoted Matt Bieber to principal. He joined the firm in May 2007 as a senior associate, after having worked at Bear Stearns.
2 min read · 06 January 2010
Pappas Ventures has promoted Sean McCarthy from principal to transactional partner, and Scott Weiner from senior associate to senior principal.
3 min read · 06 January 2010
Faye Pairman has joined U.S. Venture Partners as an executive-in-residence. She is the former president and CEO of onetime USVP portfolio company 3ware Inc., which was acquired by Applied Micro Circuits.
2 min read · 18 December 2009
We don't typically cover startups that have yet to secure venture capital, but an exception seems appropriate when the founding CEO was a venture capitalist himself. That ex-VC is Dan Gellert, who spent the past three years as an associate with Time Warner Investments. He quit back in September to launch GateGuru, an iPhone app that helps users find and rate restaurants, lounges and other amenities in 85 U.S. airports. The $2 app currently ranks #9 among paid travel apps in the iPhone store, although has climbed as high as #3. "While I was still at Time Warner, I was visiting a company down in Florida," says Gellert, explaining GateGuru's genesis. "It was a day trip, and on the way back saw an interesting looking pub just before security, which probably had decent sandwiches and beer. But I went through security, figuring there would be something similar on the other side, closer to my gate. But it turned out there was just a pizza place and a Burger King. I was amazed that with so many dollars spent in airports, there is very little information about things like that."
2 min read · 16 December 2009
1 min read · 16 December 2009
Joel Serface has joined CyberCity 3D, developer of 3D/geospatial application service platforms, as a director and chief strategy officer. He previously was with Kleiner Perkins Caufield & Byers, where he served as the first entrepreneur-in-residence at the National Renewable Energy Laboratory. He also is a former partner with Eastman Ventures and a former managing director with Sierra Ventures.
3 min read · 15 December 2009
Back in April, venture capitalist Joanna Rees told VentureBeat that she was considering a run to succeed Gavin Newsom as mayor of San Francisco. We were more than a bit surprised, given that a Rees candidacy would result in all sorts of dirty laundry being re-aired.Connie even wondered if it was "largely a publicity stunt intended to clear her name in Silicon Valley."Well, it seems that Rees is serious. She recently launched a website that includes a blog (latest post is about post-divorce family), a biography (no mention of her VC firm's implosion), photos (including ones w/ Bill Clinton and Quincy Jones), nonprofit affiliations (e.g., New Schools, World Economic Forum) and select past investments.
2 min read · 07 December 2009
Braemar Energy Ventures has promoted Scott DePasquale to partner. He joined the firm this past March as a principal and executive-in-residence, after having served as senior VP of GE Energy Financial Services.
3 min read · 07 December 2009
Vijay Aggarwal has joined The Channel Group and its BioMed Transition Partners affiliate as a partner. He previously was president and CEO of Aureon Laboratories Inc.
2 min read · 07 December 2009
