New-York-based Future perfect ventures has launched a small Fund to back applications for Big Data, as it is harnessed by every networked and sensor-enabled smart device, computer and machine. Launched by Jalak Jobanputra, who previously worked as senior vice president of the New York City Investment Fund and the former director of mobile investments for the Omidyar Network. It is planning to invest the launched fund in collecting and crunching the data in such a way that are useful for all of us. The thesis is around interpretive intelligence related to cognitive computing, because the firm is taking into account human intelligence as well as machine learning, a person said with knowledge of the firm.
The firm had invested in several companies such as SchoolNet (acquired by Pearson), Quickr, Outside.in (Acquired by AOL), Yodlee, Data Synapse (Acquired by Tibco) and much more. Its current portfolio includes 12 companies like Fuisz Media, FreshPay, The Muse, Partnered, Sift Shopping and others.
Tech Crunch says: “Being thesis driven helps,” our source said of the new fund. Firms can make a name for themselves with a tight concentration on a particular thesis. Entrepreneurs know that the firm will be receptive to their pitches, and the firm becomes more of a “go-to” option with the approach.
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