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Shoebuy founder Scott Savitz launches new venture capital firm, Data Point Capital, with $50 million

Posted by Scott Kirsner July 17, 2012 10:38 AM
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By Scott Kirsner, Globe Columnist

Shoebuy founder Scott Savitz, who left the Boston e-commerce company last year, is launching a new Boston-based venture capital firm, Data Point Capital. The firm doesn't have a web site yet, but it does have $50 million in committed capital, and a pretty stellar group of investors and advisors, including Sycamore Networks founder Desh Deshpande, CommuniSpace CEO Diane Hessan, and Endeca CEO Steve Papa.

According to the press release, Data Point will invest in "mobile, gaming, social networks, payments, comparison shopping, e-commerce and emerging technologies." And the firm will be "stage agnostic, allowing for investments in seed, early stage, mid-stage, late stage or controlling-interest deals."

Savitz says he is close to signing a lease for office space on Atlantic Wharf in Boston. "We haven't made any investments yet," he says, "but we will announce our first one in three to four weeks."

Shoebuy was acquired in 2006 by Barry Diller's InterActive Corp. Last year, Savitz purchased a school lunch delivery company founded in Charlestown, Smart Lunches, where he serves as executive chairman.

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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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