US-based private equity firm Sorenson Capital has officially launched a venture capital arm, Sorenson Ventures, which is headed by Ken Elefant, a former managing director at corporate venturing unit Intel Capital.
Elefant had been at Intel Capital, the corporate venture capital arm of semiconductor technology provider Intel, since 2011 and headed the software and security group at the unit. He came to Intel from VC firm Opus Capital, where he was a founding general partner.
Sorenson Ventures was formed to concentrate on early-stage enterprise software and cybersecurity technology developers.
Elefant will head the unit as managing director, working alongside Sorenson Capital managing director Rob Rueckert, himself a former managing director at Intel Capital before he moved to Sorenson in 2015.
Elefant said: “I wanted to take my entrepreneurial passion somewhere that was aligned with my values and strategy. The culture and vision of Sorenson Capital is an indication of the way it treats entrepreneurs – putting them first.
“It is rewarding to work as a trusted partner, adding real value beyond monetary investment by providing assistance from our collective backgrounds and connections. Rob and I have always shared the same vision for technology and entrepreneurs, so the choice to join was easy.”
– This article was amended on June 30, following the release of an official announcement.