Editor’s note: Local Tech Wire profiles a venture capital or investment firm each business day. Matthew Burns, Worth Civils and Daniel Pearson compiled the series. Two-year-old FusePath got into the venture capital market just as the technology industry cratered.
But with a $1.5 million seed fund, it’s hard to do much damage. The firm’s two partners already have gone into maintenance mode on their exiting portfolio and don’t plan on any investments this year.
The Atlanta firm sticks close to home, with all four of its portfolio companies in the metro area. They are residential networking provider Listman Home Technologies, online auction software developer AuctionWorks, power e-mail provider Silverpop Systems and Eflection, which creates online 3-D models of rooms for interior decorating.
One of FusePath’s partners, Daris McCullough, was a top manager at iXL Enterprises and helped the web-hosting firm invest in startups. Partner Kyle Antcliff previously worked at several startups and helped Procter & Gamble integrate its supply chain.
Here’s the skinny:
Featured Firm: FusePath
Mailing address: 75 Bennett St., Suite L2, Atlanta, GA 30309
Phone number: (404) 231-3703
Focus of firm: Formed in early 2000, FusePath is an early-stage venture firm. Focused primarily in Atlanta, the firm’s portfolio companies are in the technology industry.
Size of current fund: $1.5 million
Money under management: $1.5 million
Listman Home Technologies
How many new deals do you expect to fund in 2002: We are currently helping to manage our existing portfolio and have no plans to invest in 2002.
In what size range: $100,000 to $500,000
Sweet Spot (types of deals, stage of the company): Early-stage companies where operations backgrounds are of the most value and can be the first investor or part of the first-round investment.
Most important attributes for companies seeking funding: Technology-oriented companies in the Atlanta region.
What differentiates you: We bring a mindset of teamwork and hands-on operations to our portfolio companies. We are very cognizant of keeping our number of investments at a level where we are able to take on day-to-day projects and contribute at the board level.
Friday’s profile: New Enterprise Associates