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A short, but busy history Wit SoundView Ventures manages the venture capital funds of Wit Capital Group, the parent company of online investment banking firm Wit SoundView. Wit SoundView Ventures invests in technology and Internet businesses, with a focus on e-commerce, Internet-enabling technologies, Internet infrastructure, and Internet products and services that strengthen digital businesses. Wit SoundView Ventures has its beginnings in Dawntreader LP - an early stage, technology focused venture capital firm founded in 1998. Dawntreader LP was founded by Robert Lessin, who left his post as vice chairman of Salomon Smith Barney to start Dawntreader. Dawntreader Fund I LP has approximately $20 million in committed capital. With Wit In August 1999, the Dawntreader team agreed to become the venture capital unit of Wit Capital. Jointly controlled by Wit and Dawntreader, Wit/Dawntreader LLC would continue to serve as the investment advisor to Wit Capital's $39.5 million Internet-related private equity fund, Arista Capital Partners, LP. Ronald Readmond, co-CEO of Wit Capital explained to the Venture Capital Journal, "It seemed to make much more sense for us to make the Dawntreader people Wit Capital employees because potential conflicts can arise when two companies are running one fund. It was a benefit to our investors to have it integrated." Then, in November 1999, Wit Capital acquired SoundView Technology Group, a private investment banking firm with an exclusive focus on technology. The Dawntreader team - renamed Wit SoundView Ventures - is closing on a new $250 million fund for investments in early, mid and late-stage Internet companies. The new fund will make minimum investments of approximately $15 million. Daniel DeWolf, managing director of Dawntreader, will lead the new fund and will be joined by Edward Sim, Andrew Weissman, Edwin Carlson, Ben Tanen, and Sang Ahn. Portfolio Dawntreader invests in early stage Internet companies, with a strong emphasis on e-commerce companies. Dawntreader's portfolio includes Expert City, FlashBase, iPrint, Opus360, Watchworld, Whatshotnow and xDrive. Management: Tech industry leaders Robert Lessin, president and chairman of Wit SoundView, is often cited as one of the leading figures of Internet funding on the East Coast. Lessin was formerly vice chairman of Salomon Smith Barney and left that post to form Dawntreader. He named his newly formed company after The Voyage of the Dawntreader, the fifth install- ment in C.S. Lewis' Chronicles of Narnia series. Daniel DeWolf was formerly counsel at Camhy Karlinsky & Stein LLP where he led the New Media and E-Law Group.
Areas of Investment; Internet Portfolio Includes; Bookham; Caldera Systems; Concrete Media; Expert City; FlashBase; Gurunet; Hand Technology; Hardware; iPrint; iWon; Live Person; Opus360; Predict It; Sameday; Schoolpop; Sports; The Zone Network; Watchworld; WebHouse; Whatshotnow; Worth; Wrenchead; XDrive More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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