SAN FRANCISCO – Chase Capital Partners in March beefed up its San Francisco presence by hiring David Britts as a second principal in the four-man office, said Shahan Soghikian, a general partner at Chase.
“His bailiwick has been networking equipment, which is a natural extension from our concentration on telecom services,” said Mr. Soghikian, who heads the San Francisco office.
The new principal, who will focus on growth-oriented deals within his specialty, will operate an office in Silicon Valley, Mr. Soghikian said. The firm plans to hire a staff to support Mr. Britts’ efforts there, while Mr. Soghikian will work from the main office in San Francisco. Deals could include a variety of structures, Mr. Soghikian said, noting that private equity activity in telecommunications has grown beyond traditional venture capital deals.
“If there is a niche we think is attractive, it is a C or D round that leverages what the early-stage investors have done,” Mr. Soghikian said.
Mr. Britts joins Chase from Credit Suisse First Boston, where he was director of the corporate finance group and participated in transactions on behalf of Lucent Technologies, Ascend Communications, Earthlink and Bay Networks, among others. Prior joining CSFB, Mr. Britts was a director of corporate finance at DMG Technology Group in Menlo Park, Calif.
Mr. Soghikian opened the San Francisco office in July, after returning from the firm’s London office. Paul Roberts, a principal, and Mike Boyd, an associate, round out the current staff.