ShareThis Founder to Manage Cintrifuse’s Venture Fund
CINCINNATI (December 20, 2012) — Tim Schigel (pictured), a successful entrepreneur and venture capitalist, will serve as manager for Cintrifuse Early Stage Capital Fund I, LLC, a venture capital fund of funds organized by Cintrifuse, a Cincinnati-based organization that proactively links entrepreneurs with strategic businesses/institutions, mentors and investors to successfully launch high-growth startups.
The Cintrifuse Fund will invest in early-stage venture capital funds regionally and nationally. Schigel is the founder and chairman of ShareThis, the world’s largest sharing platform on the Web that was founded in Cincinnati and is now headquartered in Palo Alto, Calif. He is also former director of the Blue Chip Venture Company. The Madeira, Ohio, resident will begin Jan. 1, 2013. He will continue as non-executive chairman of ShareThis.
“Securing the services of an exceptional and highly regarded innovator like Tim Schigel to lead the Cintrifuse fund demonstrates the commitment of Cintrifuse and will inspire the confidence of the fund’s investors,” Cintrifuse CEO Jeff Weedman said. “This is a very significant and exciting addition to our team.”
Weedman is an executive on loan to Cintrifuse from the Procter & Gamble Company where, for 16 years, he led Global Business Development and open innovation collaboration.
“Our goal is straightforward: To make the Cincinnati region the place for entrepreneurs and investors to launch new ideas,” Schigel said. “This area leads the world in market research, brand marketing and pediatric healthcare research. Entrepreneurs will recognize the assets and skills in the area, from consumer marketing to health care research, and know the broader community wants them here and will help them flourish. Investors will be attracted to the area because they know it is a fertile ground for smart entrepreneurs and successful companies.”
Cintrifuse is a non-profit corporation launched in July 2012 that will provide office space, business services and mentors to startups and collaboratively coordinate programming and resources for Cincinnati’s entrepreneurial community. The Cintrifuse fund is a for-profit fund operated by Cintrifuse Capital Management, LLC, a wholly-owned subsidiary of Cintrifuse.
“Cintrifuse is an open, collaborative model,” said Schigel, a 1989 Case Western Reserve University graduate. “While it’s consistent with the successful ‘open’ culture of innovation in the San Francisco bay area, Cintrifuse excitingly adds a whole new level of connectedness to regional companies and institutions which will contribute to big ideas. I see my role as being the venture ambassador for the region.”
As director of the Cincinnati-based Blue Chip Venture Company from 1998-2007, Schigel led investments in marketing and technology leaders such as Advertising.com, Nielsen Buzzmetrics and Third Screen Media. Prior to Blue Chip, he was an entrepreneur and international consultant leading innovative projects for Apple Computer, Hitachi, Hallmark Cards, Motorola and Procter & Gamble. For ShareThis, Schigel raised more than $30 million, and its revenue growth puts it in the top 5 percent of all venture-backed companies. Customers include American Express, Best Buy, Coca Cola, Disney, Kia, Microsoft, Toyota and many other leading brands. In 2011, Forbes Magazine recognized ShareThis as one of the Top 100 Most Promising Companies in the United States.
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