Some start-up inspiration: ATG Founders Aim To Turn Company-Building Into A Science With Their New ‘Venture Foundry’ Redstar
Jeet Singh and Joe Chung have already had a nice exit, taking their enterprise software company Art Technology Group public (it was acquired by Oracle for $1 billion back in 2010). Now they’re hoping to turn the act of building successful startups into a “repeatable process,” through their new firm Redstar ventures.
Singh and Chung, along with their third co-founder Matt Beecher, said they became interested in angel investing a few years ago, but at the same time they were turned off by the randomness and risk of the traditional model. So they developed their own approach, a “venture foundry,” where the firm focuses on a few broad themes, develops companies internally, and then spins them out if they seem to be getting traction. Here’s how the model is described on the Redstar website:
We identify significant trends and growing markets, and develop potential products and services for…
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