PROVIDENCE – Prominent local venture capitalist Lee Hower announced last week he is going part-time at his firm, Point Judith Capital, in order to focus on a new project.
In a blog post, Hower said he has left his role as a principal at Point Judith but will continue to work for the firm as a venture partner.
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“I’m very appreciative of [Point Judith’s] support for my new plans,” said Hower, who declined to comment when contacted by Providence Business News.
Those plans remain under wraps, though – for now he is only describing it as a “new stealth project” in the Internet industry. “At this formative phase I prefer not to publicly discuss it further, but over the coming months I hope to start sharing more info,” he said.
Hower has a solid Internet track record.
After attending the University of Pennsylvania, he was an early employee at e-payment company PayPal Inc., which was later acquired by eBay Inc. He went on to co-found LinkedIn, the professional social-networking site, before joining Point Judtih Capital in 2005.
Hower is also an angel investor in Swipely Inc., the new purchase-sharing service founded by local entrepreneur Angus Davis. But Hower said Swipely was not the “stealth project” he has alluded to.
