Chris Sugden has been promoted to managing partner of the Edison Venture Fund. Sugden, who came to the fund in 2002, joins Edison founder John Martinson as the firm’s second managing partner.
This firm announced that this appointment marks the beginning of a transition to the next generation of leadership. Sugden and Martinson will lead the firm’s strategy and mentor investment professionals. In a prepared statement the firm said that “during this challenging economic environment, John will direct Edison’s portfolio company management. Chris will guide Edison’s industry sector and geographic investment teams.”
Sugden has spearheaded the financial technology practice which is Edison’s largest industry sector with 35 investments. He also led Edison’s entry into the New York metropolitan area, uncovering expansion stage information technology companies seeking their first institutional round. He sits on the board of eight portfolio companies, including Gain Capital, Scivantage, Trader Tools, IPP, Billtrust, FolioDynamix, Business Financial Services, and Operative.
Prior to joining Edison, Sugden served as Princeton eCom’s CFO and EVP. He was head of finance and operations for two magazine start-ups. Additionally, he was a supervisor in the entrepreneurial services audit group at PricewaterhouseCoopers and became a CPA.
Sugden, 39, earned a B.A. in accounting from Michigan State University.
Edison provides capital and advice to expansion stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 8 million. Edison typically serves as the sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts, and secondary stock purchases.
Edison Venture Fund, 1009 Lenox Drive, Building 4, Suite 200, Lawrenceville 08648; 609-896-1900; fax, 609-896-0066. John H. Martinson, managing partner. Home page: www.edisonventure.com.