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Mayfield Fund has
appointed three new entrepreneurs in residence to explore opportunities in
the cleantech and enterprise software sectors.
The new team members include Martin Eberhard, Marc Tarpenning and James
Phillips.
Eberhard and Tarpenning, who will handle cleantech invetments, were
co-founders of electric sports car company Tesla Motors Inc. and
Mayfield-backed electronic book company NuvoMedia Inc. Phillips, who will
look at enterprise software as an EIR, founded Mayfield-backed Akimbi
Systems Inc., which makes code-testing software.
"Their primary focus is creating the next great company," said Navin
Chaddha, managing director at Mayfield Fund. "It's a privilege to be working
with entrepreneurs of this caliber, particularly since all these guys are
repeat entrepreneurs for Mayfield."
Chaddha said that Eberhard and Tarpenning will look at opportunities in
efficient energy, specifically in storage and distribution. Phillips will
focus on software-as-a-service and cloud computing, among other themes.
"We have been investing for 39 years and were probably the first to come up
with the idea of an EIR," Chaddha said. "This is not something new to us.
This goes to our heritage."
As VentureWire first reported last week, Mayfield is targeting $325 million
for its newest U.S. venture capital fund, Mayfield XIII LP, although that
amount may go up to around $395 million, according to prospective investors.
The Menlo Park, Calif.-based firm invests in early-stage information
technology companies across Internet media, communications and wireless,
enterprise systems and chips and components. The firm has more than $2.4
billion under management and a team of 10 investing professionals. Since its
founding in 1969, Mayfield has raised 12 funds, invested in more than 470
companies, taken more than 100 public and exited nearly 100 others through
mergers and acquisitions.
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