Blog Archives

Announcing Stephanie Palmeri’s Promotion to Principal

Just one year ago, we were happily announcing that Steph was joining us (OK, after I tried to dissuade her in a first place). She promptly took the lead on next generation commerce opportunities, as well as helping our companies with their marketing strategy. Overall, she has contributed a lot to our firm and our companies in such a short time.

That’s why today Charles and I are thrilled to share an exciting piece of news: Steph’s promotion to Principal. Join us in wishing her well! And follow Steph on Twitter at @stephpalmeri.


Crunchies 2012: Congratulations to category winners Fab and Fotopedia

 As it has been the tradition now for a few years, our industry gathered last night to celebrate the achievement of startups and founders at the Crunchies. In a choked full venue (and a completely saturated AT&T network because of the number of smartphones in the audience), we enjoyed a fast paced program going through 20 different categories.

We were extremely pleased to see porfolio companies Fab win Best Shopping Application, and Fotopedia win Best Tablet Application. Congratulations to our teams, who both saw an exploding growth this year.

I particularly appreciated the tribute to my friend Heather Harde, the former CEO of TechCrunch, who totally deserved her standing ovation. And the emotional moment of Fotopedia’s Jean-Marie Hulot who recalled that the last time he was in this venue, he was on stage with Steve Jobs to launch the NeXT  – but Steve was no more (JMH was the CTO of NeXT back in 1988, … Read more »


Announcing SoftTech VC III’s final close at $55M

All of us at SoftTech are super excited to share that we reached a critical milestone for our firm: we have wrapped up our third fund, SoftTech VC III. Back in January 2011 we announced Fund III, with an initial $35M target, then increased it to $50M and at investors’ demand, agreed to bump it up to $55M before closing it, oversubscribed. We can also – finally – talk about it since we’re no longer fund raising and aren’t subject to non-sollicitation restrictions any more – yeah!

So why raise $55M, when our second fund was $15M? I learned a lot investing Fund II from 2007 to 2010, and figured that even for seed funds, outsized returns are generated by having the right level of ownership, and a meaningful level of follow-on participation, in your portfolio companies. We therefore upgraded our strategy from Access (“get in the good deals”) to Ownership (“buy/keep … Read more »