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REFILE-UPDATE 1-Tech executives launch $100 million fund targeting software startups

Published 2016-01-13, 05:42 p/m
© Reuters. REFILE-UPDATE 1-Tech executives launch $100 million fund targeting software startups
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(Corrects DeBacco's former title in last paragraph)
By John Tilak
Jan 13 (Reuters) - A group of technology executives have
launched a $100 million venture fund targeting a range of
business software startups across North America.
Leaders Fund, based in Toronto and Atlanta, is in
discussions with several potential portfolio companies and plans
to announce a few investments in the coming weeks, said David
Stein, co-founder and managing partner of the fund.
The fund is eyeing startups across the growth cycle, with a
particular interest in early and mid-stage companies that
generate revenue and have customers.
Within enterprise software, the fund is especially
interested in areas such as mobile, cloud computing and machine
learning. Leaders Fund is also looking to partner with early and
late stage venture capital firms on such investments, Stein said
in an interview on Wednesday.
"It's really about establishing a core investment
portfolio," he said. "We're essentially focused on software
companies that sell to enterprises."
The fund also wants to take advantage of talent in markets
such as Toronto and Atlanta, which Stein views as underserved
regions for technology investing.
"Clearly, Canada will be an important part of the mix," he
said.
Stein is a founder of Rypple, a social performance
management software company that was sold to Salesforce.com (N:CRM)
CRM.N .
Joining Stein on the team are Steve DeBacco, most recently
the chief revenue officer of Applied Predictive Technologies,
which was acquired by Mastercard Inc (N:MA) MA.N ; and Gideon Hayden,
who joins from OMERS Ventures, one of Canada's biggest
venture-capital firms.

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