Since stepping down last year from the CEO role at Shoebuy.com, the company he founded in 1999, Scott Savitz has remained an active participant in Boston’s startup ecosystem. Today, he announced via press release that he’s launching a new venture capital firm, headquartered in Boston, and in conjunction with a stacked cast of characters.
Called Data Point Capital, the firm’s $50 million fund will be “stage agnostic,” according to the release, investing in everything from seed stage to late stage deals in the internet space. Specifically, the release states that the firm has an interest in, “mobile, gaming, social networking, online payment solutions, comparison shopping, and e-commerce.”
Now, onto the stacked cast… Here’s the list of folks who have committed as investors and advisors:
- Lars Albright: Co-Founder and CEO of SessionM
- Fred Bertino: Founder and President of MMB, previously Pesident and Chief Creative Officer at Hill, Holliday
- Desh Deshpande: President of Sparta Group LLC, and Founder and Chairman of Sycamore Networks (SCMR)
- Diane Hessan: Founder, President and CEO of Communispace
- Steve Papa: Founder and CEO of Endeca
- Alan Phillips: Founder of Where.com
- Jim Salzano: President of Clarks Americas
The release states that those individuals “have committed as investors and to bringing wonderful expertise to the fund,” suggesting that at least some, and perhaps all of the committed capital is from that group rather than traditional LP’s.
Shoebuy was acquired by IAC in 2006, and Savitz stayed on as CEO until June of 2011. In January 2012, he acquired Smart Lunches, a business that provides schools with affordable, customizable lunch options.