The U.S. Team of Fidelity Ventures Forms Volition Capital
January 11, 2010
Contact: Media Relations, (617) 563-5800
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.
About Volition Capital
Volition Capital is a growth equity firm established in 2010 that focuses on investing in high-growth, founder-owned technology businesses across the U.S. and Canada that generally have between $5 million and $50 million in revenue with demonstrated capital efficiency. The firm's portfolio comprises 26 companies in the United States and Europe. Volition Capital specializes in software, Internet, information services and tech-enabled services companies that have operating discipline and aspirations for greatness. (www.volitioncapital.com)