Pequot ventures to become FirstMark capital

Printer Print Email Email
New York: Pequot Capital Management and Pequot Ventures, the New York city based venture capital arm of Pequot Capital, have announced that they have decided to separate their businesses, effective from June 30 this year. As part of the separation, the investment principals of Pequot Ventures will form a new firm, FirstMark Capital. FirstMark will assume the investment management operations of Pequot Ventures and, with investor approval, will take on full responsibility for the assets currently under the management of Pequot Ventures. "Our venture business has been functioning as an autonomous entity for some time and this separation is the next logical step for both Pequot Capital and Pequot Ventures' businesses," said Larry Lenihan, Managing Director and Co-Head of Pequot Ventures. "As a separate entity, we will be positioned to pursue our investment agenda and develop new opportunities unique to our business. Over the course of its 11 year history, Pequot Ventures has become a leading New York City venture capital firm with a national reach," he added. Pequot Ventures focuses on companies with a novel business or operational model that are creating new markets or changing existing industries. A critical element of its investment strategy is that Pequot Ventures is the first institutional investor in the vast majority of its investments, enabling closer involvement with portfolio companies and more significant potential upside for limited partners. "In the last 18 months we closed our seventh fund, completed eight successful exits and made twelve investments, including five in New York City-based companies," said Jerry Poch, Managing Director and co-head of Pequot Ventures.

SPOTLIGHT
Entertainment
Actor Dhanush, whose last Hindi release was R. Balkis "Shamitabh", may be working in another H..
Technology
To ensure uninterrupted functioning of the app in areas of low networks, Facebook-owned..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will ..
Startup City
With cities growing rapidly and infrastructure not keeping pace, the daunting work com..
Gadgets
Yamaha Music India has launched its first Indian keyboard PSR I500 under the 'Make in India' initi..
Career
Les Roches Global Hospitality Education, a multi-national hospitality management institute, a..
Finance
India's tea exports increased by 11.5 per cent to 17.93 million kgs in April this year aga..
Business
Automobile major MG Motors India on Wednesday said that it plans to manufacture electric vehicle E..
Travel
Imagine life being a romantic Bollywood song of the 90's. All those exotic frames punched into one..