Amidst all the economic gloom and doom four accomplished Atlanta entrepreneurs are showing optimism for technology startups in the South by starting a new venture fund.  David Gould, Said Mohammadioun, and Glenn McGonnigle and Tom Noonan will formally announce the formation of TechOperators at Venture Atlanta later this week.

The general partners in TechOperators have extensive experience in managing technology companies with over 46 years of experience as CEOs of priviate and public technology companies.  And while this is their first formal foray into the world of venture capital, the individuals involved have invested in more than 45 startups over the years.

TechOperators will be focusing on SaaS companies that have reached $1 million in revenue.  These types of startups, with a steady recurring revenue stream, are those best positioned to withstand a economic downturn.  TechOperators will typically be the first institutional investor in a company and become active
board members that will roll up their sleeves to help entrepreneurs achieve their objectives.

TechOperators intends to raise $30 million and invest in up to ten deals.  TechOperators is placing their interest squarely in what startups typically see as a funding gap of a $2 – 3 million raise.  A good hole to fill.

TechOperators has had its first close and has plenty of money to put to work.  And that is welcome good news for startups that fit thier profile.

October 13, 2008  |  Comments  |  Tweet  |  Posted in Venture Capital