ARCH Venture Partners promotes Carol Suh, Foresight Group promotes Claire Alvarez and Crystal Huang leaves NEA to join GV

From our Women's PE Briefs - week commencing July 26, 2021

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Carol Suh is promoted to partner at ARCH Venture Partners

ARCH Venture Partners gives Carol Suh a significant promotion. Carol, who joined the biotech-focused venture firm in 2018, is now a partner. She helped build Sana Biotechnology, Autobahn Therapeutics and Boundless Bio and is an observer on the boards of Locanabio and CERo Therapeutics. Prior to ARCH, Carol helped launch Magenta Therapeutics.

ARCH, whose core investment team includes managing director Kristina Burow, closed its tenth fund earlier this year at $1.85 billion.

Jennifer Brown leaves Barings to join Adams Street Partners

Adams Street Partners brings Jennifer Brown aboard to handle a key role. Jennifer is now a partner and global head of consultant relations with the private markets-focused investment firm.

Jennifer joins from Barings, LLC where she was managing director of the global business development group. At Barings, Jennifer led marketing strategy for U.S. consultant relations and was responsible for establishing consultant relationships to attract new business opportunities. Her background also includes serving as vice president of global consultant relations at BlackRock and as an assistant vice president of institutional equities sales trading at Barclays Capital.

In a statement, Jennifer said, “Adams Street has deep private markets investment experience and the firm is focused on becoming an even more thoughtful partner to investment consultants. I’m looking forward to developing our relationships globally with the consultant community in ways that meaningfully serve clients.”

Bowmark Capital adds Jemma Litkie and Jessica Collins to its team

Bowmark Capital adds Jemma Litkie and Jessica Collins to its team. Jessica joins as an investment executive and Jemma joins as an origination executive at the firm.

Jessica was previously a senior consultant at Oliver Wyman where she focused on commercial due diligence and corporate strategy projects. Prior to that, she was an equities analyst at Fidelity International covering small cap companies.

Jemma was previously with Houlihan Lokey as a research and development associate.

Bowmark Capital is a private equity firm specializing in smaller U.K. companies.

Sarah de Ste Croix is promoted to partner at Stephenson Harwood

Sarah de Ste Croix, a private equity attorney with Stephenson Harwood, has a new title. Sarah, who joined the firm two years ago, is now a partner in its London office. Sarah specializes in the establishment and operation of closed-ended investment funds, as well as fund formation, GP-led secondaries, LP portfolio sales and complex fund-related transactions, including GP removals. Her background includes being consultant general counsel with Buttle U.K., private funds legal lead for EY and fundraising counsel with Actis.

Elena Kovalikhina joins BGF’s Midlands team

BGF adds Elena Kovalikhina to its Midlands team. Elena joined the U.K. firm as an investor and will be responsible for identifying businesses and growing and emerging sectors that would benefit from funding from the firm. She previously was part of the M&A team at Rothschild & Co. Her background also includes working on the transaction services team at KPMG.

Claire Alvarez is promoted to partner at Foresight Group

Foresight Group promotes Claire Alvarez – a move that comes some two months after the U.K. investment firm closed a fund that she will play a key role in deploying. Claire, who is in the firm’s Manchester, U.K. office, is now a partner. She will help manage the firm’s Foresight Regional Investment III LP fund, which held a first close at 65 million pounds. Claire joined Foresight from Deloitte as a senior investment manager in 2016.

Earlier this year, Claire was involved with the sale of portfolio company Hedges Direct Group Limited to the company’s chairman, Steven Caunce. Claire’s investments also include DA Languages, Mowgli Street Food Limited and Utilities Design & Planning Limited.

Foresight was founded in 1984 and moved from focusing on unquoted investments in the United Kingdom to investing in private equity, infrastructure and environmental deals in the U.K., U.S. and Southern Europe.

Crystal Huang leaves NEA to join GV as an investing partner 

Crystal Huang leaves her role as a principal with New Enterprise Associates to join another venture firm. Crystal is now an investing partner with GV, which is supported by Google parent Alphabet, Inc. At GV, Crystal will focus on enterprise software, infrastructure and fintech.

Crystal spent nearly three years at NEA. She had previously been at GGV Capital.

GV’s investment team also includes partners Terri Burns and Frederique Dame and general partner Jessica Verrilli.

Caroline Yeager is promoted to partner at Vitalize VC

Vitalize VC’s Caroline Yeager garners a promotion. Caroline, who joined the firm in 2018, is now a partner. Gale Wilkinson, who is Vitalize’s founder and managing partner, said in a Tweet that Caroline has been “a huge asset to our firm and our portfolio.” In her role at Vitalize, Caroline focuses on sourcing potential investments, assisting portfolio companies and managing the due diligence process. She joined Vitalize from GE Ventures.

Gale, who also founded IrishAngels, formed Vitalize in 2017. The firm has a $16 million fund and invests in B2B software start-ups focused on work and future of learning. Its investments include SUMA Wealth, whose co-founder and CEO is Beatriz Acevedo and which has created a platform to engage, educate and empower U.S. born Millennial Latinos, and Toucan, whose co-founder and CEO is Taylor Nieman and which helps people learn new languages. Vitalize is based in Chicago and has locations in San Francisco and Los Angeles.

Mercury Capital Advisors adds Jill Cohen, Jennifer Tunney and Sara Modalal to its team 

Placement agent Mercury Capital Advisors adds Jill Cohen, Jennifer Tunney and Sara Modalal to its team. Jill and Jennifer joined as partners, and Sara came aboard as a principal.

Jill was previously senior managing director at Avenue Capital Group and managing director at Pinnacle Trust Partners. Jill’s other prior positions include director of institutional investments and investor relations at Salient Partners and head of capital introduction for the Americas at Citigroup.

Before Mercury, Jennifer was managing director in private markets business development at The Rohatyn Group. She has more than 20 years of investment banking experience after starting her career at JP Morgan where she focused on credit, interest rates and commodity markets.

Sara previously worked in the Dubai, UAE office of Principal Global Investors where she managed institutional sales for the Middle East and Africa region. Prior to that, Sara spent five years at Deutsche Bank Asset Management in Frankfurt, where she was part of the Global Client Group and dedicated her time focusing on German corporates and multinational clients.

Mercury Capital Advisors is focused on private placements, asset management and secondary advisory.

Stevi Petrelli leaves Goldman Sachs to join Blackstone

Stevi Petrelli leaves Goldman Sachs to take on a newly created role at Blackstone. Stevi is now a managing director and head of Blackstone Innovations Investments. In that position, she will oversee the firm’s internal investments in early stage proptech, enterprise tech, cybersecurity and fintech companies. Stevi will work across Blackstone’s technology and innovations, growth, real estate, private wealth solutions and finance businesses to drive these investments, helping accelerate innovations across the firm.

Blackstone Innovations Investments, known as BXI Investments, invests in early-stage companies that are well-positioned to benefit from a deeper relationship with Blackstone’s businesses, portfolio companies and global network. Previous investments include iCapital, Canoe, Coupa and Cylance. All told, BXI Investments has made 28 investments.

At Goldman Sachs, Stevi helped oversee the firm’s principal strategic investments portfolio and internal innovation incubation efforts. Her background also includes being a vice president at Point72 Ventures.

Sheila Patel joins B Capital Group's executive leadership team

B Capital Group adds former Goldman Sachs Asset Management Chairman Sheila Patel to its executive leadership team. Sheila was named vice chairman of the global, multi-stage investment firm, whose founders include Facebook co-founder Eduardo Saverin. In her new role, she will strategize on where and how the firm should invest. During her time at Goldman Sachs, Sheila held leadership roles in two divisions and on three continents.

B Capital has more than $3.5 billion of assets under management and six offices globally. It recently launched formally in China and expanded its investment activity in India and Indonesia. In a statement, another of B Capital’s founders, Howard Morgan, said, “Sheila brings an unrivaled network and deep knowledge of the markets that our portfolio companies operate in. We value her expertise and are excited to support her as she partners with our founders.”

Also in a statement, Sheila said, “I have observed B Capital’s growth and progress for some time. They truly appreciate how technology is rapidly digitizing industries such as healthcare and financial services, and these are areas that I am particularly passionate about. Their global presence and deep sector expertise helps them find companies that are the future.”

B Capital’s team includes managing directors Daisy Cai, Karen Page and Rashmi Gopinath.

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