By Nancy Dahlberg
What’s next for Jaclyn Baumgarten, the boating industry innovator? She’s diving into venture capital.
IDC Ventures announced this week that Baumgarten would become the Copenhagen-based venture capital firm’s Miami-based managing partner and will head the firm’s expansion into the US market.
A decade ago, Baumgarten co-founded Boatsetter, a global on-demand boating marketplace connecting boat owners, captains and renters, and under her leadership as CEO, the company grew its marketplace to more than 50,000 boat listings in 700 locations worldwide. She steered the company through that rapid growth, including M&A, funding rounds, and key partnerships such as with Geico on the industry’s first peer-to-peer boat insurance. Baumgarten stepped down as CEO in January.
Boatsetter has been an IDC Ventures portfolio company for years, so Baumgarten had a front-row seat to how the firm “adds value” for their portfolio companies. “I very much appreciate IDCV’s win-win approach to long-term partnerships, its founder-first culture, and its global network of top entrepreneurs and investors. I am passionate about supporting innovative startups, and I am eager to contribute my experience and insights to help IDC Ventures and its portfolio companies,” said Baumgarten, in a statement.
IDC’s South Florida connections have been taking shape for a few years. The firm has partnered with Miami-based Fuel Venture Capital on a number of investments, and IDC’s South Florida portfolio holdings include Taxfyle, Novopayment and Securitize, in addition to Boatsetter. Now, Baumgarten, also an Endeavor Entrepreneur, will use her understanding of the world of startups and her ability to identify promising investment opportunities to steer IDC Ventures’ US expansion, said Managing Director Bobby Aitkenhead.
“Her entrepreneurial spirit, deep industry knowledge, and strong leadership skills make her the perfect fit for our organization as we continue to drive innovation across the marketplace and fintech sectors,” said Aitkenhead.
Follow Nancy Dahlberg on Twitter @ndahlberg and email her at [email protected]
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