Initialized, a standalone San Francisco-based early-stage venture capital firm that now has $3.2 billion in assets under management and more than 200 active companies in the portfolio, has announced Abdul Ly as its fourth principal.
In a post made on the company’s official website, it was revealed that the United States-born, Senegal-raised Ly is the third principal to join the team through their open search process.
“At Initialized, we don’t evaluate founders based on education level or work credentials,” wrote the company in its official announcement. “Instead, we are more interested in their lived experience and the product they are building. [Abdul Ly]’s philosophy about how he meets founders complements that of our investment team. He is most eager to learn about the distance a founder has traveled and the steps they took to get to where they are today.”
According to a blog post, prior to his work at Initialized, Abdul Ly had a background at such companies as Google. He was also at First Round Capital and Index Ventures as an investor. And finally, before his career in venture capital, he also worked at Blend as a product manager focusing on consumer banking software.
It’s Initialized’s hope that his experience building, selling, and investing in the software will help deepen its investments in financial services, B2B software, commerce enablement, and more.
For more information on the announcement, click here.