Salt Lake City-based private equity firm Sorenson Capital has launched Sorenson Ventures, which will focus on early-stage software and security companies. Sorenson has hired Ken Elefant as managing director to lead investment efforts for Sorenson Ventures along with Rob Rueckert, managing director at Sorenson Capital. Previously, Elefant worked at Intel Capital where he was managing director of of the software and security group and vice president of Intel Corp.
SALT LAKE CITY, June 21, 2017 /PRNewswire/ — Sorenson Capital today announced the formation of Sorenson Ventures, a new investment group focused on early-stage enterprise software and security investments. With the establishment of Sorenson Ventures, Ken Elefant also joins the company as managing director, where he will be spearheading investment efforts for Sorenson Ventures along with Rob Rueckert, Sorenson Capital managing director.
Recognized by MarketWatch as one of the top three most connected people in the technology industry, Elefant joins Sorenson Ventures from Intel Capital, where he previously served as managing director of the software and security group and vice president of Intel Corp. Elefant has led investments in numerous game-changing technologies, including Carbon Black, Forescout and Prolexic, which was acquired by Akamai. Prior to joining Intel Capital, he was a founding general partner at Opus Capital.
“Sorenson Ventures is the right fit for me,” said Ken Elefant. “I wanted to take my entrepreneurial passion somewhere that was aligned with my values and strategy. The culture and vision of Sorenson Capital is an indication of the way it treats entrepreneurs – putting them first. It’s rewarding to work as a trusted partner, adding real value beyond monetary investment by providing assistance from our collective backgrounds and connections. Rob and I have always shared the same vision for technology and entrepreneurs, so the choice to join was easy. We believe we will be closing our first investment soon, which we have already identified in the security space.”
Rueckert and Elefant have both institutional and corporate investment experience, which is a unique value that they will bring to early stage entrepreneurs, especially those who are looking for corporate partnerships. The two have an extensive history, first meeting as Kauffman Fellows, then working together at Intel Capital. With Elefant opening the firm’s San Francisco Bay Area office, Sorenson Capital is deepening the firm’s presence in Silicon Valley.
“Throughout our history, Sorenson Capital has had early access to many of the best companies in the West, given the strong networks of our team. However, we haven’t been able to service them until a later stage, because of the size and structure of our private equity fund,” said Rueckert. “Sorenson Ventures was created specifically to bridge that gap and focus on these early-stage opportunities. Ken is an investor I trust and respect and I am excited to have him as our partner. With our decades of Bay Area venture investing experience, along with the deep expertise and networks of Sorenson Capital, we offer a unique and authentic investment partnership to entrepreneurs.”
About Sorenson Capital
Sorenson Capital (www.sorensoncapital.com) is a private equity firm that makes middle-market buyout and growth equity investments. Sorenson Capital has more than $1 billion in capital under management and typically makes investments of $10 to $40 million in companies with unique strategic positions. Sorenson Capital is based in Salt Lake City, Utah.