Peter Berg has left his position at Visa Ventures, payment services firm Visa’s corporate venture capital unit, to join US-based data security technology developer Very Good Security (VGS).
VGS has created a software platform that enables businesses to share safe versions of data with others without risking third-party breaches. It hired Berg as vice-president of business development and strategy, and he will oversee the company’s strategic partnerships and new business ventures.
Berg joined Visa in 2011 from financial services provider October Three, which he co-founded, and after three years as a senior business leader for product strategy and innovation he began leading the firm’s corporate venturing activities in 2014.
As part of his role, Berg led Visa’s venture capital deals, which included investments in payment technology provider Stripe and cryptographic ledger developer Chain, as well as its relationships in the VC space and the formation of Visa Ventures.
Kevin Jacques took over as global head of Visa Ventures in October 2017, and the corporate launched a $100m fund in June this year to invest in Europe-based startups.
The move comes two months after VGS, which has revealed no corporate investors, closed an $8.5m series A round led by VC firm Andreessen Horowitz.
