Sway Ventures has announced the addition of former PIMCO CEO Doug Hodge, who is joining the firm as a Venture Partner. In his new position, Hodge will focus on Sway’s early-stage portfolio companies and the new technologies surrounding financial services and enterprises. His expertise will help Sway’s portfolio teams identify strategic capital, scale revenue and go to market activities, and find and keep talent to grow their ventures.
Hodge is leaving his 28 year career at PIMCO, one of the world's largest active fixed-income managers, where he served as COO from 2009 to 2014 and as CEO from 2014 to 2016. Previous to those positions, he founded PIMCO's international business.
"Large organizations are increasingly adopting new digital technologies to accelerate growth, boost performance, and enhance the customer experience. At Sway Ventures, one of our top priorities is finding and supporting teams building the next enterprise and consumer categories," said Bill Malloy, founding general partner at Sway Ventures in the statement about Hodge’s new position.
Hodge is joining Sway Ventures at time when artificial intelligence is changing financial services. This was a key factor in his decision to join the early to mid-stage venture firm, according to the press release.
"We are witnessing a major shift in the financial space as digital technology, leveraging advances in artificial intelligence, is impacting the nearly $15 Trillion financial services industry," said Hodge. "Digital technology is fundamentally transforming the financial services industry. It is redefining the client experience, transforming how the financial markets work, and changing how leading financial institutions manage risk.”
Sway Ventures’ investments include Addepar, a cloud-based platform which has transformed the operating system for the financial world, Zanbato, a marketplace for private placement opportunities, and Tally, an app that helps customers manage their credit cards.