Cottonwood Technology Fund, a New Mexico investment firm that funds tech startups, appointed Matthew Ongaro as its new junior partner.
Ongaro brings experience in banking and private equity, a news release from Cottonwood on Monday said. He will work on to screening and scout disruptive technologies in the southwest and supporting portfolio companies and investor relations, the release says.
The appointment comes after Cottonwood began investing out of its third fund with a target size of $75 million. The organization was listed as one of several that took part in an investment round potentially worth more than $150 million announced by Albuquerque hydrogen production systems company BayoTech Inc. it was also one of the investors that took a bet on Albuquerque solar firm mPower Technology, Business First reported.
“Matt has made an impact at each stop along his career gaining recognition from the senior management at his previous companies and their portfolio companies in every case. In his past, Matt has helped raise and lead investments totaling over $100 million,” said Dave Blivin, Managing Director of Cottonwood Technology Fund, in a statement. “Since our initial [third fund] closing, we have been looking to expand our team."
In addition to having worked as an analyst at a bank and private equity, Ongaro was also a principal at a technology incubator, Cottonwood's release says.
“I am honored to join the investment team of Cottonwood Technology Funds. I look forward to working with Dave Blivin and Alain le Loux, both venture capital veterans, to learn and grow Cottonwood’s unique and successful approach to building successful hard tech companies from the ground up, in regions not at the epicenter of the traditional venture industry," Ongaro said in a statement.
