The Boston startup scene got a boost today as Boston Seed Capital added Pete Blacklow, president of WorldWinner, and Dave Balter, CEO of BzzAgent, to its partnership. Blacklow and Balter join Nicole Stata, who launched Boston Seed Capital as a private seed stage fund a year ago. Stata, who was formerly CEO of human resources software developer Deploy Solutions, which Kronos bought in 2007, told peHUB.com that Boston Seed Capital has invested in eight companies in its first year. She expects the firm will do “10 or so deals” in the next year. Portfolio companies of Boston Seed Capital include Shareaholic, FitnessKeeper and brass monkey. The firm focuses on deals in the Boston area. “We want to promote the Boston innovation scene, but we will invest from Boston to anywhere,” Stata says.
Boston Seed Capital winds up first year of fund with investments in Shareaholic and Fitnesskeeper and adds Peter Blacklow and Dave Balter to Partnership
BOSTON, MA, December 5, 2011 – Boston Seed Capital, a new seed investment fund created by Nicole M. Stata, has added Pete Blacklow, President of WorldWinner and Dave Balter, CEO of BzzAgent to the partnership. The three-person team plans to continue to make seed stage investments out of its first fund.
Stata began Boston Seed in November 2010 after a decade with Deploy Solutions, which she founded in 1996 and was President and CEO of through its sale to Kronos in 2007. Adding Blacklow and Balter to the Boston Seed team formalizes the model of CEO as venture advisor, and ensures everyone in the partnership can bring active operating experience to the evaluation of opportunities and support for founders. Stata is full-time with Boston Seed while Blacklow and Balter will retain their current CEO management duties with their respective firms.
“Adding Pete and Dave provides Boston Seed with more hands on knowledge building and running companies,” said Stata. “They offer to our founders depth of experience in the consumer space. Specifically, on-line marketing, game dynamics and crowd sourcing, which are all areas where we will be focusing. Boston Seed Capital aims to build a strong brand with a demonstrable track record for supporting great companies. We now have the partnership and the portfolio of great start-ups in place on which to build.”
“Boston Seed operates from a unique investing perspective,” Blacklow commented. “The three of us have a lot of expertise in running both consumer and B2B businesses that leverage technology as a game changer. The fact that Dave and I are still operating businesses full time helps us mentor Boston Seed’s management teams (on nights and weekends) with a current appreciation of what’s going on in the marketplace real-time and in return we can bring innovation back to our respective companies.”
Balter added, “I’ve been doing a significant amount of angel investing over the past few years, and was seeking an opportunity to partner with an established fund. Alongside Pete and Nicole, we want to collaborate to help founders and start-ups build great companies.”
Recently, Boston Seed completed Seed Investments in Shareaholic and FitnessKeeper. “The formalization of a relationship with Pete and Dave, our work with Boston Techstars, and the adds of these great companies to the portfolio is a great conclusion to our launch year in which we invested in eight new start-ups.”
About Boston Seed
Boston Seed Capital, LLC provides early stage funding and support for internet-enabled businesses around the country. But we like to say: We fund from Boston.
Our approach is to identify and help extraordinary talent to create great new companies.
And, we want to contribute to the culture of invention, leadership and learning for which Boston and Massachusetts are known.
We are operators who have founded companies, grown companies, raised capital, acquired companies, taken companies public, exited companies and built and led cultures of great places to work.
Our experience is in internet-enabled, consumer, B2B SAAS and the supporting services marketplaces. We like to dig in and help out in any way we can to support breakthrough vision and huge successes.