Former Apple execs Fred Anderson, Avie Tevanian raise NeXT-themed venture capital fund
A pair of Steve Jobs lieutenants -- former Apple CFO Fred Anderson and software chief Avie Tevanian -- have reportedly banded together in a new venture capital fund dubbed NextEquity.
Anderson, upper left, and Tevanian, upper right
The fund includes personal contributions from both Anderson and Tevanian along with cash from outside investors, according to Bloomberg. The name was chosen as a nod to NeXT, the firm at which Tevanian first led software engineering under Jobs before following the mercurial Apple founder back to Cupertino in 1997.
Both Anderson and Tevanian were formerly involved with Elevation Partners, a multi-billion dollar private equity fund fronted by U2's Bono that has begun to wind down operations.
There is no word on exactly how much NextEquity has raised thus far, but Tevanan told the publication that the group has already begun to make investments. It's also not clear whether NextEquity has chosen a particular focus area -- many funds tend to concentrate on a specific vertical in which the partners have expertise -- or will act as a general-purpose investor.
Tevanian and Anderson are not the first ex-Apple employees to become investors, but they are among the most high profile.
In one of the more peculiar investments to date, former iOS chief Scott Forstall -- ignominiously fired over the Apple Maps rollout disaster -- became a Broadway producer. His show, "Fun Home," became the first musical with an all-female writing staff to win a Tony and led Forstall to invest in a second play, dubbed "Eclipse."
Anderson, upper left, and Tevanian, upper right
The fund includes personal contributions from both Anderson and Tevanian along with cash from outside investors, according to Bloomberg. The name was chosen as a nod to NeXT, the firm at which Tevanian first led software engineering under Jobs before following the mercurial Apple founder back to Cupertino in 1997.
Both Anderson and Tevanian were formerly involved with Elevation Partners, a multi-billion dollar private equity fund fronted by U2's Bono that has begun to wind down operations.
There is no word on exactly how much NextEquity has raised thus far, but Tevanan told the publication that the group has already begun to make investments. It's also not clear whether NextEquity has chosen a particular focus area -- many funds tend to concentrate on a specific vertical in which the partners have expertise -- or will act as a general-purpose investor.
Tevanian and Anderson are not the first ex-Apple employees to become investors, but they are among the most high profile.
In one of the more peculiar investments to date, former iOS chief Scott Forstall -- ignominiously fired over the Apple Maps rollout disaster -- became a Broadway producer. His show, "Fun Home," became the first musical with an all-female writing staff to win a Tony and led Forstall to invest in a second play, dubbed "Eclipse."
Comments
But yes, white balance is bad on that one.
Guys, that is just the new nightshift feature on their camera. Didn't you get the memo that is now cool to have warmer colors?
Not Apple photographers. Nothing Apple about it.
Skin tones look within the realm of normal...
Android is failing as a revenue driver and the crown jewel of the Google organization, their web based search engine is beginning its slide into irrelevance. YouTube is about the only product that Google has that has any potential and yet Google is squandering that opportunity also.
Google won't compete with Amazon's Echo product.
http://www.theverge.com/2016/4/5/11364786/amazon-echo-dot-review-alexa
Have people friendly to Apple semi-acquire companies develop up ideas till there value to Apple is proven.
Then sell them to Apple for profit but still arms length to Apple and happy to make profit for other people if they see value first.