Paul Holland, a general partner at venture capital firm Foundation Capital, has been brought on board by corporate-oriented innovation incubator Mach49 as a US-based managing director and VC-in-residence.
Holland had worked for Foundation Capital since 2001, concentrating on consumer, clean technology and IT deals. He will continue his engagement with his existing investments after joining Mach49.
Founded in 2013, Mach49 helps established corporations set up corporate venture capital (CVC) teams through its Disrupting OutsideIn scheme, and to develop intrapreneurial growth initiatives such as internal incubators through its Disrupting InsideOut strategy.
Mach49’s clients include Convivialité Ventures, JetBlue Technology Ventures, TDK Ventures and SE Ventures, corporate venturing vehicles for liqueur group Pernod Ricard, airline operator JetBlue Airways, electronics producer TDK and energy-management equipment provider Schneider Electric respectively.
The company had hired Steve McGrath, previously a North America and Asia Pacific (APAC)-focused executive at oil producer Shell’s corporate VC unit, Shell Ventures, in May 2019 to oversee its APAC operations as a Singapore-based senior vice-president and managing director.
Holland said: “One of the aspects of Mach49 that most attracts me is that it gives me an opportunity to work side-by-side with clients.
“I partner with them on their new venture teams, CVC funds, corporate accelerators and executive investment management teams to ensure their startup investments and partnerships thrive.”
Photo of Paul Holland courtesy of Mach49.
