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Job Posting: Steve Cohen's Personal Venture Capitalist

What’s Steve Cohen supposed to do now with a fresh $1.4 billion in his pocket and no Zamboni to ride around on: Throw some cash at tech companies.

Sources say Stevie’s henchmen are looking for a seasoned venture capitalist to invest about $100 million of the billionaire's personal stash in tech startups. The headhunting is being overseen by Peter Berger and Frank Baker, both managing directors in SAC’s private equity unit who joined the firm a few years ago from Ripplewood.

We’re not sure if the new position requires special skills with whiteboard markers and a spokesman for SAC declined to comment. Rumors are also circulating that, once a manager is found, SAC wants to raise $500 million for a new venture fund, but sources said there’s no plan on the table to bring in outside capital.

While they’re still looking for someone (submit your resume) the new venture unit had time to do a deal last week. On March 30, SAC Venture Investments and J.P. Morgan took a stake in an electronic derivatives trading firm called Derivix. (The company had already raised $6.7 million in Series A funding from Goldman Sachs and Susquehanna Growth Equity.)

Also, a few years ago SAC’s venture arm invested in a penny stock company called Zoo Entertainment, which makes software for the Xbox, PlayStation, Nintendo Wii and a bunch of other video game systems, so maybe there'll be some sweet freebies in it for you as a bonus.


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