The Employee Stock Option Fund (ESO Fund) has brought venture capital industry veteran Michael Banks on board as a venture partner.
Over the past 16 years, Banks has been with various venture firms, investing in such companies as Pure Digital Technologies, Peregrine Semiconductor, Tapjoy, Silverpop and Kanjoya.
Most recently he was a partner with Palisades Ventures and led media and enterprise software investments for DE Shaw Ventures. In 2012 he founded seed capital fund Windy Hill Capital.
Stephen Roberts, co-founder and managing partner of the ESO Fund, said, “Michael’s reputation as a supportive company-builder and his long-term success as an investor have allowed him to establish relationships and trust with both the entrepreneurial and venture capital communities.”
The San Francisco-headquartered ESO Fund provides loans for exercising stock options, bearing the risk of loss instead of the option holder if the stock should become worthless.
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