Monday, September 22, 2008

Former Jeffries Broadview banker joins General Catalyst

By Mass High Tech Staff

Stephen O’Leary, former co-head of technology investment banking at Jefferies Broadview, has joined venture capital firm General Catalyst Partners.

General Catalyst has yet to publicly announce O’Leary’s appointment. However, O’Leary, who was also co-head of Jefferies Broadview’s investment banking technology group, recently confirmed the move.
O’Leary serves on the Massachusetts Technology Leadership Council’s board of trustees.

Previous to Jefferies Broadview, where O’Leary had been senior managing director, he was managing director at Broadview International LLC and assistant vice president at BancBoston Ventures Inc. He has completed more than 100 merger and acquisition and capital markets transactions involving enterprise software, media and Internet companies. At BancBoston Ventures, O’Leary focused on emerging-growth technology software, communications and semiconductor businesses. O’Leary also served in the U.S. Navy on nuclear submarines as a qualified nuclear engineer.

Last year, General Catalyst closed a fifth fund and supplement fund totaling $714.2 million. A U.S. Securities and Exchange Commission filing indicated that the main fund attracted 77 investors and totaled $496.6 million. The supplemental fund totaled $219.6 million.

The combined $714.2 million ranked as the second-largest fund raised by a New England venture capital firm in 2007, according to the National Venture Capital Association. Waltham’s Battery Ventures closed a $750 million fund, the second-largest in firm history and the largest local fund of the year.

This year, General Catalyst was the most active local venture capital firm during the second quarter, completing five deals, according to Dow Jones VentureSource.

General Catalyst’s fourth fund, which closed in January 2006, raised $400 million. The firm, which was founded in 2000, lists 59 portfolio companies operating in industries including software, communications and the Internet.