Boston, MA - February 10, 2009 – Velocity Financial Group, Inc. announced today the promotion of Joe Spinelli to vice president. Spinelli will focus on leading new investment opportunities out of Velocity's Boston office.
"Joe's keen technology insight and entrepreneurial drive have been key to the growth and success of Velocity's Ventures group," said Jan Haas, co-founder and president of Velocity. "This well-deserved promotion reflects our confidence in Joe to identify compelling investment opportunities where Velocity’s flexible financing solutions can play a valuable role in supporting our clients' growth."
In his new role, Spinelli will continue to manage his existing portfolio of venture-backed technology companies. Spinelli led Velocity's investment in Zeugma Systems, and has assisted in underwriting investments including Avnera, GameLogic, Liquidia, Myvu, nCircle, Persystent, SchoolNet, SoloPower, Suniva, and Vormetric.
Spinelli joined the founding team of Velocity Financial Group's Ventures division in 2007. Prior to joining Velocity, Spinelli worked in investment banking at Harris Williams & Co., focused exclusively on sell-side M&A advisory services for middle-market companies. While at Harris Williams, Spinelli assisted in the launch of the firm's dedicated technology practice out of the Boston office. Spinelli graduated summa cum laude from Babson College, and was the recipient of the Earl K. Bowen Award for excellence in Quantitative Methods.