Telecom Investor Joins EnerTech –

WAYNE, Pa. – EnerTech Capital Partners has hired William Kingsley, a telecommunications-focused investor, as the firm’s third managing director. The firm expects Kingsley to begin in May, said Scott Ungerer, a managing director at the firm.

Founded in 1996, EnerTech originally focused on electric and gas-related companies, but has gradually expanded its reach to include energy and communications-related businesses. With more telecom opportunities passing through the office, the partners felt it appropriate to expand their collective expertise in the space, Ungerer said.

Kingsley will be responsible for developing telecommunications deal flow, negotiating transactions, taking board seats, helping portfolio companies grow and managing exits, Ungerer said.

The new managing director comes to EnerTech from Lucent Technologies’ AT&T Customer Business Unit, where he was vice president of broadband and Internet services. Prior to his tenure at Lucent, Kingsley worked for Comcast Corp., where he was vice president of telecommunications businesses.

EnerTech is currently raising its second fund, EnerTech Capital Partners II LP (VCJ, February, page 20). The firm in April held a third close on $170 million, and expects to hold a final close before the end of June, Ungerer said. The firm plans to invest the vehicle in about 30 to 35 companies, with investments ranging between $3 million and $8 million in each company, over several rounds.

The firm’s first fund, the $50 million EnerTech Capital Partners LP, which closed in August 1996, invested in a total of 14 companies, three of which were telecom entities. The firm expects to increase that percentage, investing up to one-third of the new fund in telecom deals, Ungerer said.

Kingsley will invest alongside David Lincoln and Ungerer, the firm’s two managing directors, as well as Vice President James Biddle and Venture Partner David Kelly. The firm plans to hire as many as four additional investment professionals at the associate and vice president levels within the next several months, Ungerer said.