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CIT GAP Funds makes seed-stage equity investments in Virginia-based technology and life science companies with a high potential for achieving rapid growth and generating significant economic return.

Investment Advisory Board - Eric Koefoot

Eric is an experienced software executive and an Internet pioneer, having either founded or served as a senior executive for early-stage Internet companies since 1996. He was most recently the founding CEO and Publisher of U.S. News Ventures, a branded internet publishing company funded in part by U.S. News & World Report.  Prior to that role, he was co-founder and CEO of Five Star Alliance, a successful eCommerce startup in Alexandria, which became the largest independent booker of luxury hotels worldwide and was sold in 2007 for over a 10X return to investors in less than 3 years. 

For almost 7 years before that, Eric served in various executive roles at Washingtonpost.Newsweek Interactive (WPNI), including CFO, VP of Business Development, VP of Strategy, VP of Operations and Technology, and then quite successfully as the VP of Sales for the division.  Prior to WPNI, he worked for 9 years as a financial executive in product development at Ford Motor Company, consulted at Deloitte Consulting, and founded a startup company, PrimeSource, which provided financial and strategic consulting services to Fortune 500 clients.  Eric has an engineering degree from M.I.T. and an MBA from the Sloan School at M.I.T.

GAP Fund I Highlights

  • Global Cell Solutions closed a Series A round on 4/22/08
  • SquareLoop closed a Series A round on 12/17/07
  • Tau closed a Series A round on 10/19/07
  • Verical closed a Series A round on 9/27/07
  • Plurapage closed a Series A round on 4/13/07
  • 4FrontSecurity was acquired by Symantec on 2/23/07
  • Visure closed a Series A round on 2/22/07
  • RollStream closed a Series A round on 7/17/06
  • Paxfire closed a Series A round on 4/22/05
 
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