Canal Partners, a Leading Edge Venture Capital Firm, has Appointed Seasoned Veteran CEO Wain Kellum as its Third Managing Partner
April 15, 2014
Canal Partners is pleased to announce Wain Kellum has joined the firm as Managing Partner.
“After spending the past couple decades as an executive of high-growth technology companies I have made the decision to join Canal to help coach and mentor founders who have a dream of building amazing companies,” said Wain Kellum.
“Wain has been extremely successful at growing technology companies as a CEO for many years, and I could not be more excited to have him join Canal Partners. Wain’s expertise and experience will have an immediate impact on our portfolio companies,” said Todd Belfer, Co-Founder and Managing Partner of Canal Partners.
“We have been investing in Wain’s companies for years with successful outcomes in all of them. Wain’s passion and impressive ability to build sales and marketing teams is second to none,” said Jim Armstrong, Co-Founder and Managing Partner of Canal Partners. Jim is also the Founder, former CEO, and former Chairman of JDA Software Group, based in Scottsdale, AZ. JDA Software sold for nearly $2 billion in late 2012.
Canal Partners will open an office in Atlanta in the coming months with the appointment of Wain as Managing Partner. Wain stated, “With all the talent in Atlanta I look forward to working with the many founders and management teams to help them create growth in their companies. I am very excited to join Canal Partners and work with Todd and Jim to create a leading Venture Capital firm in Atlanta and Phoenix.”
Most recently, Wain served as CEO of Vocalocity, a cloud-based voice solutions provider with services and support especially tuned to help small businesses grow. Vocalocity was acquired by Vonage (NYSE: VG) after Wain oversaw the growth of the company from $8 million in revenue to over $100 million.
Canal Partners currently has 10 portfolio companies in which three are headquartered in Atlanta: CallRail, ClickDimensions, and Club Digi. Canal Partners realized 3 exits in 2014: nettime solutions, WebPT, and Vocalocity.
Canal Partners is a Private Equity firm that provides professional investor capital to Software and Internet Technology companies that have market-proven products & services. Canal Partners is looking to create and increase value for highly scalable, revenue-generating, growth-oriented companies that are seeking an investment commitment of $1 to $3 million.
Contact:
Todd Belfer: (602)332-8974
Wain Kellum: (404)683-9267
Jim Armstrong: (480)264-0217