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April 2, 2013 at 7:42 AM
Paul Allen’s Vulcan Capital opens investment office in Silicon Valley
Microsoft co-founder and Vulcan Inc. founder Paul Allen is opening an office in Silicon Valley to make investments in Internet and technology companies.
The office, which will operate under Vulcan Capital — the investment arm of Vulcan Inc — will be located in downtown Palo Alto. It will “focus on making investments in the $10-million to $100-million size range in internet and technology companies, including mid- to late-stage venture capital, growth equity, recaps, buyouts and strategic public market block investments,” according to a Vulcan news release.
In recent years, Vulcan Capital has invested in companies including Seattle deal-finding startup Decide.com, online real estate brokerage Redfin, and contacts-and social streams-management startup Gist.
Heading the Silicon Valley office will be Abhishek Agrawal, whom Vulcan named as managing director. Agrawal, who starts in his new position May 1, is expected to hire a team to work at the Palo Alto office.
From Vulcan’s news release:
Mr. Agrawal joins Vulcan Capital from General Atlantic, a global growth equity firm with $17 billion in capital under management, where he has worked since 2005. He has been closely involved in General Atlantic’s investments in the internet and technology sector, including AKQA, Alibaba Group, Bazaarvoice, Dice Holdings, Facebook, Gilt Groupe, Klarna, Network Solutions, and Red Ventures, among others.
“We are thrilled to welcome Abhishek as part of the Vulcan Capital leadership team,” said Paul Ghaffari, Chief Investment Officer of Vulcan. “Abhishek brings a dynamic investment approach to growth equity that is complementary to our existing efforts in early-stage technology and the later stage buyout markets. His stellar investment record and entrepreneurial approach will help expand our reach in multi-stage technology investments.”
The office is expected to open in the next few weeks, operating under the name of Vulcan Capital, according to Reuters, which reported the story earlier.