Internet veteran Scott Savitz has launched a $50m venture capital fund called Data Point Capital, with a team of investors which includes Diane Hessan, the founder and CEO of online research community builder Communispace - sold to Omnicom last year.
<! pod><! pod>Savitz previously launched retail site Shoebuy.com, prior to which he set up a full service marketing agency, and worked at investment bank BancBoston Robertson Stephens. His new fund will provide investment to firms across a range of sectors including mobile, gaming, social networking, online payment solutions, comparison shopping and e-commerce.
Hessan (pictured), who sold Communispace to Omnicom last year for a reported $100m, comments: 'Clearly, Scott was looking to create a team that collectively brings tremendous experience with all aspects of the Internet. I am looking forward to working with people who are jazzed to leverage their skills, inspire entrepreneurs, and have a positive impact, while still having some fun.'
Other investors include the Lars Albright co-founder of mobile ad platform SessionM; Fred Bertino, founder of marcoms group MMB; Desh Deshpande, who founded bandwidth management solutions firm Sycamore Networks; Steve Papa, founder of business intelligence specialist Endeca; Alan Phillips who founded location-based mobile media firm Where.com; and Jim Salzano who is President of shoe retailer Clarks Americas.
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.
Register (free) for Daily Research News
Simple printable version of this article
REGISTER FOR NEWS EMAILS
To receive (free) news headlines by email, please register online