Hearst Ventures, Hearst Corp.’s strategic investment arm, has tapped Dave Famolari for the position of managing director. Famolari comes to Hearst from Verizon, where he was the director of its ventures division since 2013. While at Verizon Ventures, he helped expand the investment portfolio in industries, technologies and market sectors.
“Dave brings a wealth of experience to the Hearst Ventures team,” Scott English, the senior managing director of Hearst Ventures and head of U.S. investments, said Thursday morning. “As we continue to grow and diversify our investment portfolio, we’ll benefit from his eye toward innovation across industries.”
Hiring Famolari, who will focus on U.S.-based investments and based at the Hearst headquarters in New York, is part of Hearst’s ongoing efforts to expand its corporate investment arm on both a national and international scale. Hearst Ventures began in 1995 with an investment in Netscape. Since then, it has focused on strategic investments in companies in the media and technology space. More recently, it has invested in companies including BuzzFeed, Pandora, Hootsuite and XM Satellite Radio.
“Hearst Ventures is known throughout the venture capital investment community as being a leader in strategic portfolio building within the media and technology industries,” Famolari said. “I am very excited for the opportunity to join this team.”