Business

Shoebuy founder Scott Savitz launches new venture capital firm, Data Point Capital

Shoebuy founder Scott Savitz, who left the Boston e-commerce company last year, is launching a new Boston-based venture capital firm, Data Point Capital.

The firm doesn’t have a website yet, but it does have $50 million in committed capital, and a pretty stellar group of investors and advisors, including Sycamore Networks founder Desh Deshpande, CommuniSpace CEO Diane Hessan, and Endeca CEO Steve Papa.

According to the press release, Data Point will invest in “mobile, gaming, social networks, payments, comparison shopping, e-commerce, and emerging technologies.”

Advertisement

And the firm will be “stage agnostic, allowing for investments in seed, early stage, mid-stage, late stage, or controlling-interest deals.”

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

Savitz says he is close to signing a lease for office space on Atlantic Wharf in Boston.

“We haven’t made any investments yet,” he says, “but we will announce our first one in three to four weeks.”

Shoebuy was acquired in 2006 by Barry Diller’s InterActive Corp.

Last year, Savitz purchased a school lunch delivery company founded in Charlestown, Smart Lunches, where he serves as executive chairman.