The investment firm of America’s multibillion-dollar Pritzker family has renamed its technology arm amid a shift in strategy to cover later-stage deals.
New World Ventures has been retitled Pritzker Group Venture Capital to better align itself with the Pritzker name according to managing partner Chris Girgenti.
Co-founder and managing partner J B Pritzker, pictured, who has a net worth alone of $2.5bn, said, “We are seeing great later-stage opportunities that need additional capital and can benefit from the guidance of our venture partners such as the former CEOs of Walmart.com, Sonic Solutions and NDS.”
The firm’s recent investments include Boston-based fleet-tracking business Fleetmatics, Phoenix software-defined data center developer IO and SMS Assist, a Chicago-based facilities maintenance technology company.
Cast and Habiger will focus on expanding the firm’s investments in e-commerce and new media.
New World also named co-founder of Google’s Chicago office Kevin Willer as a strategic advisor.
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