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Flybridge Capital bolsters team for New York venture push

10 Sep 2012

Boston-based early stage investor Flybridge Capital Partners has expanded its newly established New York City office with the addition of several investment team members.

Matt Witheiler, pictured, a principal with the firm previously based in Boston, has moved to New York to join general partner David Aronoff who established the firm’s New York City office earlier this year.

Caitlin Strandberg, who previously worked in business development at New York City based start-ups LearnVest and Behance, has also joined the firm’s New York office as an associate.

“Over the past few years, our involvement with the New York start-up community has increased significantly, with nearly half our new investment deal flow now coming from this region and team members from Boston spending a significant amount of time in the city,” said Aronoff.

“In response to this, we set up an office in New York earlier this spring and are thrilled to now have Matt and Caitlin to support our New York investment initiatives.”

Flybridge Capital Partners’ New York investments to date include 10gen, 33Across, tracx, and Jingle Networks, which was bought by Marchex in April last year.

The firm has also been active in many NYC-based entrepreneur accelerator and mentoring programmes including Tech Stars, General Assembly and First Growth Venture Network, which it was a founding executive committee member of.

Nate Westheimer, executive director of the New York Tech Meetup, also serves as an advisor to the firm.

“I’ve had the pleasure of working with the Flybridge team for a long time and am excited that the firm is establishing a NYC office to support the growing entrepreneur community here,” added Kevin Ryan, founder and CEO of Gilt Groupe and 10gen board member.

“The NYC start-up scene is exploding and it will be fantastic to have David, Matt and Caitlin here to support, mentor and invest in the next generation of rising stars.”

“As the city’s technology start-up market grows, having a steady stream of venture capital funding is a key to ensuring the success of these young companies,” said Mayor Michael Bloomberg.

“We welcome Flybridge Capital Partners to the city and look forward to working alongside them as we build New York City into the country’s new Tech Hub.”

Flybridge Capital Partners has $560m and has invested in over 60 companies to date, including 10gen, Brontes Technologies (acquired by 3M), Cartera Commerce, DataXu, Digital Lumens, Open English and Reveal Imaging (acquired by SAIC).

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