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Cloud Expo: Article

TechOperators Launches First Venture Fund

They’re reportedly looking for firms already doing $1 million in revenue that need $2 million-$3 million
By Maureen O'Gara
Article Rating:
November 19, 2008 09:45 AM EST
Reads:
 3,147

Atlanta-based TechOperators, a new early stage VC targeting cloud computing and SaaS as well as Internet services, security, infrastructure and mobile, is launching its first venture fund and claims it didn’t have too many problems raising the $20 million-$30 million.

The four managing partners, all ex-CEOs who sold their companies mostly to big boys, include Tom Noonan who sold Internet Security Systems to IBM, David Gould who sold Witness Systems to Verint Systems, Said Mohammadioun, who sold Samna to Lotus and Glenn McGonnigle, who sold VistaScape Security Systems to Siemens.

They’re reportedly looking for firms already doing $1 million in revenue that need $2 million-$3 million to leverage their recurring-revenue business.

Published November 19, 2008 – Reads 3,147
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More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025.

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