Momenta, a US-based venture capital firm, has hired Michael Dolbec as managing partner.
For more than 30 years, Dolbec has been an executive in institutional and corporate venture capital in Silicon Valley, most recently serving as executive managing director for GE Ventures, the corporate venturing unit of industrial conglomerate General Electric, since late 2012.
Dolbec began his investment career with Kleiner Perkins Caufield & Byers and continued with Greylock. He went on to venture capital leadership roles at IBM, 3Com, Orange, and LG Electronics.
Momenta has made over 50 investments and recently closed its third digital industry fund, the AIoT Ecosystem Fund, at $50m with limited partners including Advantech, an industrial intelligence corporation.
Dolbec said: “The entire industrial world, from energy and manufacturing to logistics, transportation and agriculture, is being disrupted by technology and digital transformation. These industries comprise more than half of the economy, but they are largely overlooked by the venture community.”
Ken Forster, executive director of Momenta, added: “As a venture industrialist, he [Dolbec] has been at the forefront of the digital transformation of industries, serving as an investor and strategic advisor to some of the most-impactful companies in the space.”
