Lotus Innovations has hired Ommid Bavarian as its new chief financial, a newly-created position, the venture capital firm announced at the end of March.
“Ommid shares Lotus' passion for helping technology companies reach their goals,” said Christian Mack, managing director and partner at Lotus Innovations, in a statement.
Prior to joining Lotus, Ommid, who has 10 years of accounting experience, was a managing member and senior vice president of finance and procurement at Black Rock and an audit associate at Ernst & Young, in addition to CFO roles at other various enterprises, according to his LinkedIn profile.
Along with Mack, the firm has two other managing directors, Philip Jones and David Roman, according to the firm's website.
Lotus is raising $33 million for Lotus Innovations Fund II and has already closed on $25 million, according to an April 4 regulatory filing with the US Securities and Exchange Commission (SEC).
The firm has tripled its target for the fund compared with Lotus Innovations Fund I, which closed on $10 million in April 2014. With Fund II, which has a five-year life, Lotus plans to make a total of six to 10 investments in under-valued enterprise IT professional services and software companies, according to the firm's website.
Lotus didn't return requests for comment.
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