San Francisco-based FTVentures has announced that Derek Lemke-von Ammon, former director of private equity at Thomas Weisel Partners (now managed as Tailwind Capital Partners), has joined FTVentures as a partner.
As of September 1, Lemke-von Ammon will take part in FTVentures’s business development efforts, work closely with the firm’s LPs and oversee FTVResources, the firm’s research-based platform for its investors and portfolio companies.
Lemke-von Ammon comes from San Francisco-based Thomas Weisel partners, where in addition to serving as private equity director, he was also a founder and member of the firm’s five-person Executive Committee. He has been an investor and advisor in private equity for more than 19 years.
Prior to starting up Thomas Weisel Partners in 1998, Lemke-von Ammon had been with Montgomery Securities in San Francisco for 10 years as senior managing director and director of private equity.
FTVentures was also founded in 1998 by James Hale III, Bob Huret and Scott Wu, all veterans of Montgomery Securities. The firm was the first venture capital fund in the U.S. to focus on the financial services technology niche. The firm, which now has over $623 million in capital under management, focuses on firms that provide solutions in three key areas: electronic commerce enablers, software and infrastructure solutions providers, and payments sector technologies. FTVentures’s second fund closed on $423 million back in 2002.
Thomas Weisel Capital Partners underwent a management change in the last year and is now managed as Tailwind Capital Partners. Today, Tailwind Capital manages the $1.3 billion fund with the same middle-market growth strategy in healthcare, technology and business services, and media and communications with a virtually brand new investment team that was uninvolved with the fundraising, closed January 2000. Most recently, in February the merchant bank agreed to acquire publicly traded Trover Solutions for $60 million.