Tuesday, October 14, 2008

TechOperators eyes Nashville

TechOperators, a new Atlanta-based venture fund, will be keeping an eye on Nashville. On Monday, TOp Co-Founder Glenn McGonnigle told VNC his firm has good relationships with some prospective co-investors here. He cited Council Ventures as an example of a Music City player they know well. "We are not at all limited to Atlanta," said McGonnigle, explaining the company takes a broader view, partly because the principals "have played on the national and global stage," as well as working the PeachState network. Criteria: TechOperators says it's looking for software-as-service players with about $1 million in revenue and needing $2-$3 million to leverage their existing recurring-revenue-driven business. The company says its four co-founders have individually invested in 45 startup ventures over the years. They'll formally announce their $30 million fund goal during this week's Venture Atlanta conference.

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