Boston, MA - Volition Capital today announced its establishment as an independent growth equity firm that principally invests in high-potential, founder-owned technology companies. The founding team of Volition Capital previously led the U.S. operations of Fidelity Ventures, a venture capital firm affiliated with Fidelity Investments.
Managing Partners in the new firm are Larry Cheng, Andy Flaster, Roger Hurwitz and Rob Ketterson. Other senior members of the founding team include Geraldine Alias, Sean Cantwell, Don Haile, Anne Mitchell and Jill Roosevelt.
Under a sub-advisory agreement, Volition Capital will continue to manage the portfolio of venture capital assets developed by the principals of Volition Capital while at Fidelity Ventures. Specifically, Volition Capital will continue to manage the existing portfolio of 20 U.S. companies and jointly manage six European portfolio companies with Fidelity Growth Partners Europe, the European venture investment arm of Fidelity International. Fidelity will not have an ownership position in Volition Capital and this spin out will not affect the venture investing of Fidelity Biosciences.
Volition Capital's focus will be on high growth, founder-owned technology companies. These companies will generally have between $5 million and $50 million in revenue with little or no institutional investment. Volition Capital will invest in different technology sectors including Internet, software, information services and tech-enabled services.