Matt Nordby is set to become the founder of a new venture firm, Flume Ventures. Based in Incline Village, Nevada, the firm looks to invest profits into developing a region’s technology hub. Khan Imran, who was formerly in senior positions at Snap Inc., Credit Suisse Group, and JPMorgan Chase, has been pegged to be a part of Flume as an operating partner. Joining him will be tech veteran Scott McNealy who is known as the co-founder of Sun Microsystems.
Furthermore, billionaire Dave Duffield who has built businesses like Ridgeline, Workday and PeopleSoft, and professional golfer Annika Sörenstam have already committed to invest in the firm’s first fund, which seeks to reach a target of 100 million dollars.
Nordby has previously been a partner at Lion Capital, a private equity firm that deals mostly with consumer brands and investments. He will now be an adviser at Lion Capital while remaining supportive of their investments in True Food Kitchen, Hatch Collective and Verishop.
Flume Ventures looks to focus on enterprise technology companies and offers entrepreneurs a hands-on approach with the hope of turning great ideas into a real business. It is yet to be seen if the Flume Ventures moniker will bear fruit in the business world. The venture firm provides a great opportunity for those seeking to join a venture that has the backing of some of the world’s biggest names in business and technology.