Andy Sack is stepping aside as CEO of Lighter Capital, the Seattle investment firm that provides revenue-based loans to companies that angel or venture capitalist won’t touch. Sack will remain executive chairman, and in his place as CEO will be BJ Lackland.
“I remain passionate about the Lighter Capital business and the revenue-based financing model, so I’m very much looking forward to working with BJ,” said Sack, who plans to spend more time working with the TechStars Seattle incubation programs.
Lackland is the former CFO of Power Efficiency Corporation, a publicly traded manufacturer of advanced electronic control devices. Before that, he worked with venture capital firm Summit Energy Ventures and software localization company EnCompass.
“I’m excited to be working with Andy and the Lighter Capital team to usher in what is truly an innovative funding structure and investment process,” said Lackland, a Seattle native who holds a MBA degree from the University of Washington.
OUYA, which has already raised more than $5 million on Kickstarter for its Android-based gaming console, has named former Amazon.com engineer Muffi Ghadiali (best known for his work on the Kindle) to the team, according to SlashGear.
Matt Graves has stepped down as director of communications at Twitter. Appropriately, Graves, who previously led PR efforts at RealNetworks and Imeem, announced the news in a Tweet. “And thank you to everyone @Twitter. I’m honored to have had the chance to work alongside such curious, smart & simply amazing people,” Graves wrote. The News was first reported by The Next Web.
NanoString Technologies, a Seattle maker of genomics analysis tools, continues to add to its bench. The company announced this week that it has added former Wyeth Chief Financial Officer Greg Norden to its board. (Wyeth was acquired for $68 billion in 2009 by Pfizer). The appointment follows the addition of Bruce J. Seeley who was recently tapped as senior vice president & general manager of diagnostics. “With a rapidly growing life sciences business and a capability for developing high-value molecular diagnostics, NanoString Technologies is poised to transform both the study and treatment of disease,” said Norden, who hols a B.S. from the State University of New York – Plattsburgh and received a M.S. from Long Island University.
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