Volition Capital LLC, whose founding team previously led the U.S. operations of Fidelity Ventures, a venture capital firm affiliated with Fidelity Investments, announced its establishment as an independent growth equity firm.
Boston, MA-based Volition Capital will mainly focus on investing in high-potential, founder-owned technology companies.
These companies will generally have between $5m and $50m 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.
In addition, Volition Capital will continue to manage the portfolio of venture capital assets developed by the principals of Volition Capital while at Fidelity Ventures.
In particular, the new venture 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.
Managing Partners in the new firm are Larry Cheng, Andy Flaster, Roger Hurwitz and Rob Ketterson. Senior members of the founding team include Geraldine Alias, Sean Cantwell, Don Haile, Anne Mitchell and Jill Roosevelt.