We hear a lot about “pivots” these days in business – a change of focus or mission. How about a personal one?

Joe Velk, a veteran investor with career stops at Intersouth Partners, Contender Capital and a co-manager of the North Carolina Enterprise Fund, has made a personal career pivot: From investor to CEO, taking over as the top exec at Morrisville startup ShiftWizard. In an exclusive interview, Velk talks with WTW about his career change, how it came about, and how his experience as a VC will help him as a CEO.

Velk’s move to ShiftWizard (a software-as-a-service platform for work force scheduling and more) from Contender Capital, which he managed for 16 years. He also was a co-manager of the North Carolina Enterprise Fund for 13 years. His selection as CEO was disclosed Thursday as part of a $3 million funding round.

Our Q&A:

  • Why did you decide to move into active company role from investment role?

I worked with the co-founders [Christian Pardue and Shane Parker] over a year as an advisor and board member. As I spent more time with the team, the opportunity to build a significant company became very clear.

This is a tremendous opportunity to focus on building one business full-time versus advising several companies.

  • Given your background at Intersouth and elsewhere in NC, what were your impressions about ShiftWizard and its leaders?

The Co-Founders had a very good vision of a better scheduling solution for hospitals. They built an amazing product which offers a strong value proposition to its customers. The co-founders did an outstanding job of bootstrapping the company to this point.

  • How were you recruited for this role – by the investors (and if so how did you know them) or the co-founders?

I was recruited by the co-founders before we began fund raising.

  • Was your hire necessary for the funding to be made and if so why?

No, but it is always easier to raise capital with a CEO in place.

  • How will the company differ under your management – are you planning a pivot and perhaps expansion of the platform’s capabilities?

We are focused on scaling up the business.

  • How will your experience as an investor and VC help you as a CEO?

Since I have served on over 20 boards, I certainly understand many of the issues that companies encounter as they grow quickly.

  • How might your expectations and experiences as a VC perhaps be a hindrance, i.e. not being down in the weeds of a specific company?

Venture capitalists are in the business of building successful companies.

Over the years, I have worked closely with several growth companies and I understand what is required to scale a business.

Now I can focus that experience and understanding on ShiftWizard.