San Diego has a new player in the venture capital space as of Thursday in the form of Bright Light Management. Jeff Belk, the founding partner of the new venture formed to identify, evaluate and stimulate funding for early-stage, entrepreneurial projects and advance them to the next phases of their development, made the announcement at a San Diego Venture Group Crowdfunding panel at the Del Mar Marriott.
Belk, a former Qualcomm executive who sits on the boards of several companies and groups in town, said the firm will initially focus its efforts in the mobile health, wearables, wireless, genomics, big data and consumer-lifestyle services and applications sectors.
Not only is Bright Light Management joining the San Diego scene, but Belk also announced that the company is partnering with OurCrowd, a hybrid VC-crowdfunding platform for accredited investors to invest in global early stage companies with a focus in Israel. Together, the firms will bring new sources of equity funding for San Diego entrepreneurs to build and scale their companies. Bright Light Management is the first United States venture partner of the OurCrowd platform.
"For decades, funding options available to emerging San Diego companies have often been limited, with a heavy reliance on Silicon Valley for funding," Belk said. "With the recent emergence of equity-based crowdfunding, accredited Investors in communities likeSan Diego can now directly participate in the growth of emerging companies and help to drive theSan Diego County economic engine in new ways."