Jan 17, 2012

Charlie O'Donnell , former founder of Path101 and principal at First Round Capital , has left the firm. Up next, he'll pursue a fund of his own, Brooklyn Bridge Ventures . O'Donnell began his venture career working with Fred Wilson at Union Square Ventures . The Brooklyn native says it has always been his dream to be a partner, and now is as good a time as any to start his own firm. O'Donnell is aiming to raise about $10 million for the fund, industry sources say. It will invest in early and seed stage technology companies, one or two every month, says O'Donnell. It will have a Brooklyn focus, although  O'Donnell says he will consider investing in entrepreneurs wherever they are across many categories. "I never thought I'd be an investor in a jewelry company," says O'Donnell in reference to the Chloe + Isabel investment he helped source for First Round Capital. "So as long as the companies are tech-based, the firm will consider them. " O'Donnell doesn't have a partner and he isn't looking to hire a junior person yet. For now he'll source all of the deals himself. O'Donnell has the blessing of his former firm, First Round Capital. "I can't wait to see the impact his firm makes on the Brooklyn tech community," says partner Josh Kopelman. "Ever since Charlie joined First Round Capital he and I have talked about his goal of starting his own firm -- and I'm excited to see him take the plunge. " Fred Wilson agrees, "Charlie is pure Brooklyn hustle..nobody is better suited to catalyze the Brooklyn tech community and seed it with startup capital than Charlie O'Donnell. "