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Boston April 26, 2018 ·
San Diego It’s time to catch up on some of the latest Boston-area tech headlines: —There were two notable venture capital hires this week with Boston ties. General Catalyst Partners named departing American Express CEO Ken Chenault as chairman and a managing director.
Chenault will be based in the venture capital firm’s New York office, the New York Times reported. General Catalyst also has locations in Cambridge, MA—where it was founded—and the Bay Area.
Chenault also recently joined the boards of Facebook and Airbnb. Meanwhile, former General Electric CEO Jeff Immelt is heading west to work as a venture partner at New Enterprise Associates (NEA) and co-teach a graduate business course at Stanford.
He’ll be based in the Bay Area, but will also spend time in cities such as Boston and New York, a NEA spokesperson told Xconomy. —Altiostar Networks raised $32 million in equity financing, according to a document filed with the SEC on Thursday.
The funding disclosure follows reports in January by Reuters, The Economic Times, and other outlets that Altiostar sold a 17.5 percent stake in the company to Indian IT firm Tech Mahindra for $15 million. Tewksbury, MA-based Altiostar makes radio equipment that it says boosts the performance of wireless networks and helps mobile broadband companies lay the groundwork for the transition to 5G networks. Read more from xconomy.com…
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