, who has been a part of
He declined to disclose more details about Maywood.
Last month, London-based 3i Group announced it was closing its Menlo Park, Calif.-based office by year-end in a move that takes 3i out of venture investing entirely.
Scott, who was a consulting partner at PricewaterhouseCoopers before joining 3i, has experience investing in enterprise applications, infrastructure and business services.
Scott currently serves as a director on the boards of four investments he led for 3i, including 13-year-old CollegeNET, a Portland, Ore.-based developer of software to manage scheduling, admissions, donations, student and faculty evaluations. Scott also sits on the boar of 14-year-old Mindjet, a San Francisco-based company that sells knowledge management software; 9-year-old Italio, a Palo Alto, Calif.-based company that develops business process management software; and Fios, a 9-year-old Portland, Ore.-based company that sells electronic discovery software and services to litigators and corporate legal departments.
While Scott hangs up his own shingle, at least two other 3i investors have settled in at established firms. David Aslin, once a partner with 3i, joined
No official target was reported, although the firm is expected to approach the $495 million it raised for its fifth fund, which closed in 2004.
Bain launches fourth VC fund
The Boston-based firm—founded in 2001 as the VC arm of Bain Capital—raised about $500 million for its third fund, which closed in 2007.
Navitas nears close