Brad Bernstein Joins FTVentures as Partner
- Former Oak Hill Partner joins firm focusing on business services and software for global financial services industry
- Sees unique network as strong competitive advantage in private equity
Thursday, May 1, 2003
SAN FRANCISCO, CA - Brad Bernstein, 36, has joined FTVentures, the San Francisco-based venture capital firm that primarily invests in companies that provide services and technologies vital to the financial services industry. He most recently managed the Business and Financial Services Group as a Partner at Oak Hill Capital Management, where he specialized in outsourcing, marketing, technology-enabled and insurance services.
Bernstein will lead the Business Services Investment Team at FTVentures and manage the New York office. This newly-created office will establish a closer proximity to many limited partners and broaden FTVentures' efforts to proactively source unique investment opportunities. Bernstein has already worked closely with FTVentures. In November, he successfully led a team consisting of Oak Hill, FTVentures and company management to acquire Exlservice, a leading India-based business process outsourcing company. Bernstein currently serves on the Exlservice Board of Directors.
"FTVentures has a potent competitive advantage in its global financial industry network and knowledge-base," explained Bernstein. "Their limited partners, consisting of 38 of the world's leading financial institutions, provide an essential reality check on service and technology needs. This ongoing dialog with the limited partners enhances diligence and decision-making on new investments. In a highly competitive private equity market, FTVentures is extremely well-positioned due to its exceptional network and expertise, and I am very excited to be part of this firm's future."
"Brad brings to this firm a proven track record with a tremendous list of accomplishments. His expertise in the expanding business services market as well as his extensive contact base is a perfect fit with FTVentures' strategic focus," said James Hale, FTVentures Managing Partner.
Prior to the formation of Oak Hill Capital Management, Brad was a Managing Director at Oak Hill Partners, which he joined in 1992. He began his private equity career with Patricof & Company Ventures. Bernstein graduated magna cum laude from Tufts University with a BA in International Relations.
Bernstein joins FTVentures partners James Hale, Bob Huret, Richard Garman, Bob Barrett and David Haynes.
Founded in 1998, FTVentures (www.ftventures.com) was the first venture capital firm in the U.S. to focus on technologies that benefit the global financial services industry. FTVentures now has over $623 million in total capital under management and is a leading investor in information technologies. FTVentures invests primarily in private companies developing products and services in software and payment & business services, with a particular emphasis on companies that enable financial institutions worldwide to expand and to operate more efficiently.
FTVentures' investors are 38 of the world's leading financial institutions and include AIG, Bank of America, BNP Paribas, Charles Schwab, Citigroup, Credit Suisse Group, Deutsche Bank, DBS Bank, GE Capital, HSBC Holdings, Key Principal Partners, National City, Skandinaviska Enskilda Banken (SEB), Standard Chartered Bank, US Bancorp and Wells Fargo.
FTVentures-backed companies include 7-24 Solutions, Financial Engines, Corillian, Managed Objects, Banter, Vernier Networks, Verus Financial Management, Caplin Systems, Xign, CapitalStream, e-Security, E-LOAN, Synchrologic, ValuBond, ValiCert, and ClearCommerce.
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