Omidyar Technology Ventures has quietly launched as an early-stage venture capital firm solely funded by eBay Inc. (EBAY) founder Pierre Omidyar.
Omidyar in 2004 formed something called Omidyar Network, which operates as a “philanthropic investment firm.” This new firm, however, is a “pure commercial venture capital fund,” according to managing partner Todor Tashev, who declined to comment further.
Tashev previously was with Omidyar Network, where he led global tech, Internet and mobile investment activities. His new team members include two other Omidyar Network veterans ― partner Chris Bishko and principal Pearl Chan ― plus an associate, Sid Trivedi, who previously was with Symphony Technology Group.
It is unclear how much money Omidyar has given the firm to invest, but so far it already has participated in deals for Convoy (on-demand local and regional trucking), Fundbox (cash flow management tools for small businesses) and Nervana (machine learning platform).