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Flybridge Capital expanding New York office

Posted by Scott Kirsner July 23, 2012 02:46 PM
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By Scott Kirsner, Globe Columnist

Flybridge Capital Partners, the Back Bay venture capital firm, is adding staff at a Manhattan office it opened back in January. David Aronoff, a Flybridge VC who invests mainly in IT businesses, is now working out of the New York office, and principal Matt Witheiler plans to move down at the end of the summer. (Both had previously been based in Boston.) Aronoff also says that he has hired an associate who will start in September, and notes that the firm brought on Picturelife founder Nate Westheimer as an advisor in 2009. (Westheimer is also executive director of the New York Tech MeetUp group, which runs one of the city's biggest tech get-togethers.)

"Over the past five years, we've been spending time increasingly in New York, and we have several portfolio companies there now," says Aronoff, mentioning startups like 10Gen, a database company, and 33Across, in advertising technology. "Our deal flow in New York has really risen, and for the past couple years we've been holding one of our partner meetings every month in New York." (Aronoff adds that several of Flybridge's Boston-based portfolio companies, like Dataxu, also have sales and marketing offices in Manhattan.)

While the New York tech scene in the late 1990s may have "turned out to be a mirage," Aronoff contends that this time, it's different: "It's a really interesting ecosystem of entrepreneurs, and we're seeing things that are keeping us interested."

The Flybridge office is in SoHo, not far from where the TechStars New York accelerator program is located.

(As an aside: well worth a read is this recent blog post from Jeffrey Bussgang, a colleague of Aronoff's at Flybridge, which compares the recent IPO and M&A track records of New York and Boston.)

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About Scott Kirsner Scott Kirsner was part of the team that launched Boston.com in 1995, and has been writing a column for the Globe since 2000. His work has also appeared in Wired, Fast Company, The New York Times, BusinessWeek, Newsweek, and Variety. Scott is also the author of the books "Fans, Friends & Followers" and "Inventing the Movies," was the editor of "The Convergence Guide: Life Sciences in New England," and was a contributor to "The Good City: Writers Explore 21st Century Boston." Scott also helps organize several local events on entrepreneurship, including the Nantucket Conference and Future Forward. Here's some background on how Scott decides what to cover, and how to pitch him a story idea.

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