Salt Lake City-based Sorenson Capital has announced the formation of Sorenson Ventures, a new investment group focused on early-stage enterprise software and security investments. With the establishment of Sorenson Ventures, Ken Elefant joins the company as managing director. He will be spearheading investment efforts for Sorenson Ventures along with Rob Rueckert, Sorenson Capital managing director.
Elefant joins Sorenson Ventures from Intel Capital, where he previously served as managing director of the software and security group and vice president of Intel Corp. Elefant has led investments in numerous technologies, including Carbon Black, Forescout and Prolexic, which was acquired by Akamai. Prior to joining Intel Capital, he was a founding general partner at Opus Capital.
“Sorenson Ventures is the right fit for me,” said Elefant. “I wanted to take my entrepreneurial passion somewhere that was aligned with my values and strategy. The culture and vision of Sorenson Capital is an indication of the way it treats entrepreneurs — putting them first. It’s rewarding to work as a trusted partner, adding real value beyond monetary investment by providing assistance from our collective backgrounds and connections. Rob and I have always shared the same vision for technology and entrepreneurs, so the choice to join was easy. We believe we will be closing our first investment soon, which we have already identified in the security space.”
“Throughout our history, Sorenson Capital has had early access to many of the best companies in the West, given the strong networks of our team. However, we haven’t been able to service them until a later stage, because of the size and structure of our private equity fund,” said Rueckert. “Sorenson Ventures was created specifically to bridge that gap and focus on these early-stage opportunities. Ken is an investor I trust and respect and I am excited to have him as our partner. With our decades of Bay Area venture investing experience, along with the deep expertise and networks of Sorenson Capital, we offer a unique and authentic investment partnership to entrepreneurs.”
Sorenson Capital is a private equity firm that makes middle-market buyout and growth equity investments. It has more than $1 billion in capital under management and typically makes investments of $10 million to $40 million in companies with unique strategic positions.