WAYNE, Pa. – TL Ventures hired Robert Verratti in December as a partner who will establish the firm’s presence on the West Coast by identifying new investment opportunities and managing existing portfolio companies in Southern California.
Mr. Verratti, most recently chief executive officer of National Media Corp., the world’s largest infomercial company and a TL Ventures portfolio company, will be based in Los Angeles, said Robert Keith, managing director at TL Ventures.
“[Mr. Verratti] is a manager as well as an entrepreneur, ” Mr. Keith said. “He is a true generalist.” Mr. Verratti’s management experience with high-growth companies would be invaluable to the firm’s portfolio companies, Mr. Keith said, explaining the decision to bring him on board.
TL Ventures has more than $540 million under management and focuses mainly on early-stage investments in information technology and biotechnology companies.
Mr. Verratti will be TL Ventures’ third venture partner. Stanley Tims joined the firm in 1998 as a venture partner in the firm’s Austin, Texas, office. He supports portfolio companies by providing strategic counsel and marketing advice based on almost two decades of experience in executive and senior marketing management roles in high-technology companies.
Michael Barker, a venture partner in the firm’s Phoenix, Ariz., office, has expertise in the field of wireless communication and previously was a principal and head of operations at Odyssey Partners in New York, Mr. Keith said.
Mr. Verratti, who has known Mr. Keith for more than 25 years, said TL Ventures, which has offices on the East Coast and Southwest, was in need of representation on the West Coast.