WAYNE, Pa. – TL Ventures in February hired Andrew Morozov as its first principal in charge of strategic planning to provide insight into market trends and help scout information technology deals, said TL Managing Director Gary Anderson.
The firm refers to its new hire as an “intellectual asset” who will stay on top of hot issues and technologies. Morozov, a former vice president at IT consulting firm the Gartner Group Inc., was actively seeking a position in the venture capital industry and was introduced to TL Ventures by a recruiter.
Keeping An Eye Out
Morozov will focus on conducting strategic research for future trends in the technology market, which will help the firm proactively seek out new opportunities. He also will work with TL Venture’s more than 60 portfolio companies and assist young tech business owners who lack experience in building their enterprises, Anderson said.
“We’re not employing Dr. Morozov to do the next deal,” Anderson said. “[But to] think about what the next deal should be.”
The firm created the new position to enhance its value in the eyes of entrepreneurs, Anderson said.
As a vice president at the Gartner Group, Morozov helped clients such as banks and insurance firms, purchase new technologies that were best suited for their business needs. Prior to that, he was a senior program manager at IBM Corp., where he brought new technologies to market. Morozov holds a PhD in Physics from Moscow Institute of Technology and Physics, and an MBA in Finance from the Wharton School at the University of Pennsylvania.
TL Ventures backs early-stage software, Internet, IT services, communications and life sciences companies. The firm is investing its $250 million TL Ventures IV, which closed at the beginning of 1999. At press time, the fund had backed some 25 to 30 companies, with typical investments ranging between $5 million to $10 million over the life of a company. The firm expects to back about four or five more enterprises before the fund is completely committed, Anderson said.
The $285 million TL Ventures III, which closed in 1997, is completely committed to 35 companies.
The firm might hire others to join Morozov in the future, Anderson said.