New Fund Starting in Pittsburgh

New Fund Starting in Pittsburgh

I wasn’t going to make a post today because I have quite a bit going on in my personal life but my hand was a little bit forced by the morning’s news.  Sean Ammirati formerly the CEO of mSpoke (which you’ll recall was the local company that sold to LinkedIn) and the COO Read, Write, Web which sold last year is starting a new fund as part of a local VC which had traditionally been more medical and energy based then software based.  The new fund (which Sean announced in this blog post) will be focused on as a “seed & studio fund focused on ‘community driven commerce’ startups. By community driven commerce startups, we specifically mean ‘primarily web & mobile startups that have strong network effects while still delivering value from the first user with a transaction based revenue models.’ ”

Sean has been one of the great proponents of the young Pittsburgh Tech Scene, not only bringing the national headlines for the successful startups he has nurtured but also actively attending many of the functions at AlphaLab, being an adjunct professor at CMU for entrepreneurship, and founding Innovation Happens.  I’m looking forward to seeing what startups his fund ends up inspiring and (hopefully) keeping in the Burgh!