Tech veteran opens VC office in Austin, ready to invest in startups

Feb 21, 2014
Austin Business Journal

Technology veteran Manoj Saxena has departed IBM Corp. to open an Austin office for a California-based venture capital fund

Saxena said Thursday he’s now the managing director of The Entrepreneur’s Fund, which has already invested in three local startups operating in stealth mode. But he expects that number to grow to 15 by the end of 2015

The Entrepreneur’s Fund, founded in 1989, plans to invest in startups that develop cognitive computing platforms using IBM’s Watson cloud technology. Cognitive computing involves software designed to understand unstructured data while learning about the user with each interaction

He plans to continue be an adviser to Michael Rhodin, IBM’s (NYSE: IBM) senior vice president who leads the IBM Watson Group

Before joining IBM in 2006, Saxena was the CEO of Webify Solutions Inc., an Austin-based company that developed Web services software for insurers and financial services companies

IBM acquired the 120-employee Webify Solutions for an undisclosed amount in mid 2006

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