US/EUROPE - US Fidelty Ventures team forms Volition Capital

Volition will continue to manage the portfolio of venture assets acquired by the founding team while at Fidelity. Specifically, Volition will look after the existing portfolio of 20 US companies, as well as jointly manage six European portfolio companies with Fidelity Growth Partners Europe, the European venture investment arm of Fidelity International.

Volition will look to invest in founder-owned, high growth companies that have between $5-50m of revenue with little or no institutional investment, based in the US or Canada. Preferred sectors include internet, software, information services and tech-enabled services.

Fidelity will not have a stake in Volition; the venture arm of Fidelity Biosciences will remain.

Managing partners in the new firm are Larry Cheng, Andy Flaster, Roger Hurwitz and Rob Ketterson.

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