News – TLV Strategizes With Morozov

TL Ventures has hired Andrew Morozov as its first principal in charge of strategic planning. The new hire, who was previously a vice president at IT consulting firm Gartner Group Inc., had been actively seeking a position in the venture capital industry and discovered the opportunity at TL Ventures thanks to a professional recruiter.

Morozov said that he is now responsible for conducting strategic research on future trends in the technology market, which will help TL Ventures to proactively seek out entrepreneurs. Gary Anderson, a managing director at the firm, added that Morozov will also help guide some of the young and inexperienced tech business owners whose companies are already within the TL Ventures portfolio.

The firm refers to its new hire as an “intellectual asset” who will stay on top of hot issues and technologies.

“We’re not employing Dr. Morozov to do the next deal,” Anderson said, “[but rather to] think about what the next deal should be.”

The firm decided to add this new position because, in today’s market, capital is abundant and entrepreneurs want to know what a private equity firm’s value proposition is once the deal is done, Anderson said. He added that TL Ventures is open to the possibility of hiring others to join Morozov in the future.

At his former job with the Gartner Group, Morozov helped clients such as banks and insurance firms to buy new technology. In addition, his consulting practice there would help clients to analyze and match their needs with vendor capabilities.

Prior to that, Morozov was a senior program manager at IBM Corp., where he brought new technologies to market. He holds a Ph.D. in Physics from the Moscow Institute of Technology and Physics plus an MBA in finance from the Wharton School

TL Ventures backs early-stage software, Internet, information technology services, communications and life sciences companies. The firm is currently busy investing its $250 million TL Ventures IV, which closed at the beginning of 1999. At press time, the fund had backed some 25 to 30 companies, with typical investments ranging between $5 million to $10 million over the life of a company. The firm expects to back about four or five more companies before the fund is completely committed.

The firm’s previous fund, the $285 million TL Ventures III, which closed in 1997, is completely committed to 35 companies.