April 26, 2010
- Waltham, MA
Commonwealth Capital Ventures, an early-stage venture capital firm that invests in software and software-based services, Internet and digital media, communications technology, and instruments and systems, today announced that Alex Laats has joined the investment team as a general partner. Laats will work to cultivate investment opportunities in the software, defense, Internet and security sectors.
“Alex has been working with entrepreneurs and as an entrepreneur for a number of years. He has successfully developed many businesses, often from scratch, so he will immediately become a valuable member of the investment team at Commonwealth,” said Michael Fitzgerald, a founder and managing general partner at Commonwealth Capital Ventures. “We have backed him twice and won each time. He knows what it takes to build companies from the early stages, and we're delighted that he'll be using this expertise to develop opportunities for the Commonwealth investment team.”
Laats comes to Commonwealth from BBN Technologies, a Commonwealth-funded company that was purchased by Raytheon in 2009. Most recently, Alex was president of BBN's Delta division, where he led the creation of the division, successfully turning the intellectual property and technical know-how of the R&D organization into a source of revenue and profit for the company. Laats led the growth of BBN’s Boomerang and AVOKE businesses, and co-founded RAMP, a BBN spin-out. In addition to the organic growth, he conceived and led the acquisition of Digital Force Technologies, bolstering BBN's position in the critical and growing special forces market.
Prior to joining BBN, Alex was a Venture Partner at Commonwealth, where he specialized in the areas of enterprise information technology and communications infrastructure. Previous to that position, Alex was president, CEO and co-founder of Informio, Inc., a provider of VoiceXML services for large enterprises. Prior to founding Informio, Alex was the chairman, COO and co-founder of NBX Corporation, a Commonwealth-backed manufacturer of VoIP-based business communications systems. NBX Corporation was successfully acquired by 3Com Corporation.
Previous to NBX, Alex was a technology licensing officer at MIT, where he was involved with multiple start-up businesses based on MIT technology. Alex started his career working with the entrepreneurial community as a corporate attorney at Testa, Hurwitz & Thibeault in Boston. Alex has a J.D. from Harvard and physics and math degrees from MIT.