SAN FRANCISCO, March 1, 2018 /PRNewswire/ — Sway Ventures has added former PIMCO CEO Doug Hodge to help grow its early-stage portfolio companies focusing on new technologies for financial services and enterprises.
“We are witnessing a major shift in the financial space as digital technology, leveraging advances in artificial intelligence, is impacting the nearly $15 Trillion financial services industry,” said Doug Hodge. “Digital technology is fundamentally transforming the financial services industry. It is redefining the client experience, transforming how the financial markets work, and changing how leading financial institutions manage risk,” reiterated Hodge. “Artificial intelligence and other leading technologies will only increase the pace of change that is already underway in financial services. I joined Sway Ventures because they sit at the forefront of this movement, deploying capital into FinTech companies that are shaping and redefining the category.”
Hodge spent 28 years at PIMCO, one of the world’s largest active fixed-income managers, with $1.75 trillion in assets under management. He served as COO from 2009 to 2014 and as CEO from 2014 to 2016, when he oversaw all client relationship management, product development, and the firm’s 13 global offices in the U.S., Europe, Asia, South America, and Australia. Prior to being appointed COO, he founded PIMCO’s international business.
“Large organizations are increasingly adopting new digital technologies to accelerate growth, boost performance, and enhance the customer experience. At Sway Ventures, one of our top priorities is finding and supporting teams building the next enterprise and consumer categories,” said Bill Malloy, founding general partner at Sway Ventures. “Doug will be a critical player at Sway Ventures, leveraging his vast expertise as the former head of one of the largest asset managers in the world to position our portfolio companies for long-term growth and success, not to mention he can open a lot of doors for our young founders.”
Hodge will help existing portfolio teams in three ways: finding strategic capital, scaling their revenue and go to market efforts, and hiring and retaining talent. In addition, his role covers working with Sway Ventures’ limited partners as well as evaluating potential deals.
Sway Ventures was an early investor in a number of pioneering FinTech companies, including Addepar, a cloud-based platform which has transformed the operating system for the financial world, Zanbato, a marketplace for private placement opportunities, and Tally, an app that helps customers manage their credit cards.
About Sway Ventures
Sway Ventures is a San Francisco-based venture capital firm investing in early- to mid-stage technology companies. The firm invests in high-performing teams, building revolutionary technology, creating the next enterprise or consumer category. With a focus on strategic capitalization, business development support, and engineered exits, Sway Ventures provides great teams with the support they need to change the future. For more information on Sway Ventures and its portfolio companies, please visit, https://swayvc.com/portfolio/.
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SOURCE Sway Ventures