Sheth is the Final Strategic Hire Tapped to Build Upon MVF’s New Vision
September 26, 2016–COLUMBIA, MD–The Maryland Venture Fund today announced the final senior hire of its new management team, Parag Sheth. Parag brings to the table decades of sales, marketing, and business development experience at multi-nationals and venture-backed startups, including most recently at Radius Worldwide. After the Maryland Department of Commerce spun the Maryland Venture Fund (MVF) out to TEDCO in 2015, the Fund has been assembling a team that will provide more than just capital to the entrepreneurs with whom it partners. Sheth’s hire completes the initial phase of this plan.
“MVF is committed to the success and growth of the companies it supports, and that means building a team that is capable of understanding and responding to the unique challenges that entrepreneurs face,” stated Sheth. “I am excited to join a team with not only extensive operational and venture capital experience, but also the passion to go the extra mile for our entrepreneurs.”
Sheth joins Managing Director Andy Jones, Moss Amer, Phil Jung and Arti Santhanam who together are setting the refined strategy for investing opportunities. They will continue to focus on early stage Maryland-based companies, but will also support and engage the ecosystem of the entire Metropolitan DC region.
The change in management reflects a desire to actively support and engage high-growth companies that require more financing than angels can provide, but are capital-efficient enough to fundraise less than what traditional institutional funds seek to invest. The Fund is industry-agnostic, and is looking to back exceptional founders with a history of success.
“Parag and I have known each other for over 15 years,” stated Jones. “We have worked together twice, and made money for our investors in both of those ventures. We expect to deliver similar results working together for the third time. Parag has a phenomenal track record of delivering results and can assist our portfolio companies with pragmatic guidance.”
About the Maryland Venture Fund
The Maryland Venture Fund is an early-stage, evergreen venture capital fund dedicated to funding and growing the next generation of outstanding businesses in Maryland. They are an experienced team with significant venture and operating experience whose focus is on making entrepreneurs successful. With slightly more than $100M in assets under management, they partner with exceptional entrepreneurs and help them build valuable companies that last.