Executive moves, week of Feb. 8, 2010

Element promotes Gabbita

Element Partners, a Philadelphia-based VC firm focused on the cleantech and energy markets, has promoted Sam Gabbita to the position of partner. He joined the firm in 2006 as a senior associate, and leads the firm’s investment efforts in the alternative fuels space.

Clark leaves New Jersey LP

resigned last week as director of the $68.7 billion New Jersey Division of Investment. Orin Kramer, chairman of the investment council, confirmed the departure of and acknowledge that he has accepted another job offer, although the name of the company is, as yet, undisclosed. Deputy Director Ray Joseph is expected to step in until a new director is named.

Wriedt heads to Providence

has joined Providence Equity Partners as a managing director in the firm’s capital markets group. He previously was a partner and co-head of marketing and structured products with GoldenTree Asset Management.

Bessemer boosts staff

Bessemer Venture Partners has made three promotions. Vishal Gupta (in Mumbai) has been named managing director; Alex Ferrara (Larchmont, N.Y.) has been named partner; and Umesh Padval (Menlo Park, Calif.) has been named partner.

Kohler scales Summerhill

Will Kohler has agreed to join Summerhill Venture Partners as a partner in the firm’s Boston office, after having spent the past six years with Prism VentureWorks.

Starr rises at Winona

Winona Capital Management has promoted Jason Starr to vice president. He joined the firm in 2007, and serves as a director of Winona portfolio company Boloco restaurants.

Nussle to advise Avista

Jim Nussle has joined the advisory board of Avista Capital Partners. Nussle is a former Iowa congressman who served as Director of the White House Office of Management and Budget from 2007 to 2009, and currently runs his own consulting firm.

Morgenthaler adds Cech

Tom Cech has joined Morgenthaler Ventures as a special advisor. He is the 1989 recipient of the Nobel Prize in Chemistry, and he currently runs the University of Colorado’s Initiative of Molecular Biotechnology.

Fair heads to Velocity

Peter Fair has joined Velocity Financial Group as a principal in the firm’s Santa Clara, Calif.-based office. He previously was a director with TriplePoint Capital.

GMT promotes two

GMT Communications Partners has promoted Natalie Tydeman to partner and Vikram Krishna to principal. Tydeman joined the European private equity firm in 2007 as a senior associate, after having run business development for Fremantle Media. Krishna joined in 2005 as a portfolio reporting analyst.

Arsenal names Gorbach VP

Arsenal Capital Partners has promoted Eugene Gorbach to vice president and Roy Seroussi to senior associate. Gorbach focused on the financial services sector, and joined Arsenal in 2008 from American Capital. Seroussi focuses on the chemicals sector, and joined Arsenal in 2008 from Credit Suisse.

Chapman heads to Foley & Lardner

has joined Foley & Lardner, as a Silicon Valley-based partner in law firm’s private equity and venture capital practice group. He previously was a partner with Nixon Peabody.