WALL STREET VETERAN SHÁKA RASHEED JOINS MARCELO
CLAURE AND PAUL JUDGE AS PART OF FIRM'S NEXT STAGE OF GROWTH
ATLANTA, Sept. 17,
2024 /PRNewswire/ -- Open Opportunity Fund, a
venture capital firm focused on investing in software companies
founded by diverse entrepreneurs, today announced that Sháka
Rasheed, financial services and technology executive, has joined
the firm as General Partner, leading capital development and
portfolio value creation. Rasheed brings senior leadership
experience in building and leading capital formation teams at some
of the world's most premier alternative asset management firms
including Bridgewater, Lazard, Citadel and J.P. Morgan, as well as
scaling growth at global technology companies including Salesforce
and Microsoft.
Throughout his career, Sháka has successfully raised billions in capital across various
investor segments, including family offices, pension funds,
endowments, foundations, sovereign governments, central banks,
insurance companies and bank platforms, among others. Rasheed's
deep financial services experience has spanned prominent leadership
roles at some of the world's most premier asset management firms,
including Head of Sales & Marketing at Bridgewater Associates;
Managing Director and Head of Alternatives, Americas at Lazard
Asset Management; Director, Global Distribution at Citadel Asset
Management; and over 15 years at J.P. Morgan Chase, culminating as
Managing Director within the Institutional Investment Management
Division.
His proven ability to drive organizational growth through
innovative go-to-market strategies has established him as a
visionary leader across financial services and technology.
Most recently, Rasheed served as Senior Vice President at
Salesforce, where he managed the company's billion-dollar Strategic
Banking & Wealth Management business. Prior to Salesforce,
Rasheed was Managing Director and General Manager of the U.S.
Capital Markets business at Microsoft, where he played a crucial
role in scaling it into the fastest growing sub-vertical within the
Financial Services division. While at Microsoft, Sháka also served
as an Expert Network Member and Advisor for
M12 (Microsoft's Corporate venture capital
business), where he guided portfolio companies, founders, and
senior management teams on their strategic goals and
go-to-market approach for market expansion and growth.
Shaka is currently an Independent Director on the Board of
DigitalBridge Group, Inc. (NYSE: DBRG), a global firm that
owns, operates, and invests in businesses such as data
centers, cell towers, fiber networks, small cells,
and edge infrastructure, managing more than $80 billion on behalf of its
limited partners and shareholders. Rasheed holds a
bachelor's degree from Morehouse
College and earned an MBA from Harvard
University.
Opportunity Fund 1 has invested $100
million into 75 Black- and Latino-led tech companies. Its
diverse portfolio includes companies such as Atomic, Brex, Career
Karma, Cityblock Health, Eight Sleep, Esusu, Lumu, Paystand,
QuickNode, Squire, and Subject. The fund has successfully achieved
seven exits, demonstrating its commitment to fostering innovation
and driving impactful growth in underrepresented communities. As
the firm looks to the future, it is now raising Fund 2 to continue
executing this strategy.
In 2022, Black and Latino founders received less than 3% of
venture capital funding, despite comprising over 30% of
the United States population.
Research has consistently shown that diverse companies yield
greater results, producing higher profits and exit multiples.
"I am excited to join Open Opportunity Fund, a firm that stands
at the forefront of innovation in the venture capital space," said
Sháka Rasheed. "With a strong foundation and a clear focus on
making impactful investments, the potential to scale the firm into
a major player in the industry is immense. I am eager to bring my
experience in capital formation and value creation to the team, and
to help drive the continued success and growth of our firm."
"Sháka's appointment is a key move in our strategy to strengthen
our leadership team," said Paul
Judge, Managing Partner of Open Opportunity Fund. "His deep
expertise in financial services and proven track record in driving
growth will be instrumental as we continue to scale our
organization and expand our investment capabilities."
"We are thrilled to welcome Sháka to our team," said
Marcelo Claure, Vice Chairman and
General Partner, Open Opportunity Fund. "His capital development
expertise, honed at some of the world's most respected alternative
asset managers and technology companies, aligns perfectly with our
mission. Sháka will be instrumental as we continue to scale the
firm."
For more information,
visit http://TheOpportunityFund.com and follow
@OpportunityFund on X and Instagram.
For media and interview requests, please contact
media@theopportunityfund.com
About Open Opportunity Fund
Open Opportunity Fund is a technology venture capital firm
focused on investing in software companies founded by outstanding
diverse founders. Open Opportunity Fund's portfolio spans
enterprise IT, artificial intelligence, fintech, and digital health
sectors. Opportunity Fund 1 is a $100 million fund with
SoftBank as an anchor LP. The firm has invested in 75 Black- and
Latino-led tech companies including Atomic, Brex, Career Karma,
Cityblock Health, Eight Sleep, Esusu, Lumu, Paystand, QuickNode,
Squire, and Subject. The fund has achieved seven portfolio company
exits. In 2023, the team led by Paul
Judge and Marcelo Claure acquired the Fund from
SoftBank and announced Fund 2 to continue to execute the
thesis.
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SOURCE Open Opportunity Fund
