Eliadis was previously director of finance at Menlo Park-based Sofinnova Ventures, which focuses on life sciences and technology.
Prior to that she was a managing director for an unnamed private equity firm and held senior financial positions at several large organisations, Lux said in a statement.
She began her career at professional services firm Deloitte in 1985.
Lux co-founder and managing partner Peter Hebert said, “We’re proud to add Karen to the Lux team.
“She’s established herself as a leader in the venture capital finance community and her acumen and insights will be integral to Lux’s continued expansion.”
Eliadis said, “Having been intimately involved in the venture industry for more than a decade, I have great admiration for the unique franchise Lux Capital has built.
“I’m very excited to join at an obvious inflection point in the firm’s growth.”
Investors in the oversubscribed Lux Ventures III included the Crown family of Chicago as well as foundations, financial institutions and other family offices.
Fifty per cent of the LPs that participated were new investors to Lux Capital funds, the firm said.
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