Seattle-based startup studio Pioneer Square Labs has added to its leadership team.
On May 8, PSL named Vivek Ladsariya, former general partner at SineWave Ventures, as a managing director. He will mostly focus on leading pre-seed and seed investments with PSL's venture capital arm, PSL Ventures, but he will also help with the startup studio.
"We are over-the-moon-thrilled to welcome Vivek to PSL," Julie Sandler, managing director of PSL, said in a news release. "It is not only his incredible track record and talent as a venture investor, but also his incomparable warmth, passion and founder-centric ethos."
Ladsariya, who moved from the Bay Area to Seattle for his new role, spent more than six years at SineWave Ventures, his LinkedIn page notes. According to PSL, he led investments in the analytics platform Databricks and the security screening company Evolv. He spent more than three years at Fenox Venture Capital before that.
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PSL was founded in 2015. Founders can come to the startup studio with an idea, and the studio will provide talent and guidance to grow the company. In other instances, PSL will come up with an idea and find experienced founders to launch the company.
PSL has launched more than 35 startups, including the teletherapy startup Joon and the savings company SecureSave. The startup studio raised $20 million last year. In addition to engineers, designers and marketers, PSL helps startups with legal and human resources.
PSL Ventures, meanwhile, invests in early-stage startups in the Pacific Northwest. It participates in, but doesn't lead, investments in companies that spin out of the startup studio. In 2021, PSL Ventures raised a $100 million fund. The firm has invested in the teen banking app Copper and the cybersecurity startup Dropzone AI.
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