Ben Cukier and Eric Byunn have left FTV Capital to launch Centana Growth Partners.
Cukier spent 16 years at FTV Capital, a growth equity fund, and was a partner, the Centana website said. He led FTV’s investments in financial services and was on the management committee. Before FTV, Cukier worked at Madison Dearborn Partners where he was an associate, according to his LinkedIn profile. Cukier left FTV in December, his LinkedIn profile said.
Byunn worked at FTV for 13 years and was also a partner, the Centana website said. He served on the FTV management committee and led investments in enterprise technology. Along with Cukier, Byunn is listed as “founding” Centana, the website said.
Bonnie Kearns, who worked on FTV’s business development team, has also joined Centana to coordinate fundraising efforts and provide administrative support.
Cukier and Byunn “are transitioning out of FTV Capital to raise a new fund,” said Karen Derr Gilbert, an FTV partner, in an emailed response to questions.
The firm is near finishing the transition of board and observer seats, she said. “FTV Capital completed its conversations with limited partners about the transition last year,” Gilbert said.
Centana Growth Partners, of New York, will invest in growth companies in financial services, financial technology and enterprise solutions, the firm’s website said. Calls and messages to Cukier weren’t returned.
The departures come just months after FTV finished marketing for its fourth fund. FTV IV LP closed at $700 million in March. FTV’s third fund collected $512 million in 2008. Performance data for both funds was unavailable.
FTV, with offices in New York and San Francisco, invests in growth companies in enterprise solutions, financial services and payments/transaction processing. The firm was founded in 1998 and was originally known as FTVentures. It changed its name in 2008 to FTV Capital.
Cukier and Kyle Griswold, an FTV principal, led the firm’s investment in IndexIQ in June 2008. In December, New York Life Investment Management said it would buy the ETF provider for an undisclosed amount. Klingenstein, Fields & Co. was also a seller.
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