Innovation Works Appoints Managing Directors of Life Sciences and Software
07.31.24
PITTSBURGH — July 31, 2024 — Innovation Works, one of the most active early-stage investors in the country providing a continuum of capital and resources for the Pittsburgh region’s entrepreneurs, has appointed leaders to head its life science and software practices. Jeanne Iasella has been named Managing Director of Life Sciences, and Steven Welles has been named Managing Director of Software.
Iasella has deep domain expertise in healthcare informatics and extensive merger and acquisition experience, having led large corporate development and business line divisions at MEDRAD, Bayer Health, and most recently as Chief Solutions Officer at TeleTracking Technologies, where she managed a portfolio of more than 20 healthcare solutions deployed globally.
“Jeanne has significant experience in growing business lines organically by helping to develop and deploy products on a global scale. Further, her M&A experience gives her a unique perspective on inorganic growth,” said Ven Raju, President and CEO at Innovation Works. “She understands our region and has wide ranging experiences to support regional life sciences companies in their pursuit of growth.”
Welles began his career at Goldman Sachs, where he produced original and proprietary market, industry, and stock-specific research on more than 30 technology companies, which led to multi-million-dollar client investment decisions. He went on to start and scale several venture backed technology companies. Most recently, he served on the executive team of Gridwise, helping the gig-mobility company scale.
“Steve has a deep entrepreneurial background, and hands on experience in shepherding technology startups through the early stages of the business and development lifecycle,” Raju said. “Further, Steve’s financial background brings an added dimension to help regional software companies think about raising capital and operating in a capital efficient manner. Steve has charted his own course several times and can help guide founders to find their own way.”
In their roles as Managing Directors, Iasella and Welles will be responsible for setting the strategic direction of their respective practices, originating deal flow, supporting portfolios, and managing the software and life sciences programs. These appointments come at a time of significant growth for Innovation Works. In 2023, the organization invested in 60 regional tech companies, marking a 50% increase in dollars deployed over the prior year.
Learn more about how Innovation Works supports early-stage companies and strengthens Pittsburgh’s position as a hub for innovation and technology.
About Innovation Works
Innovation Works is one of the most active early-stage investors in the country and the most active in Pennsylvania. Since its inception of the seed fund in 1999, Innovation Works has invested in over 700 companies that have gone on to raise $3.3 billion in follow-on funding. Portfolio companies have generated and retained over 20,000 jobs in Pennsylvania. Innovation Works is part of the Ben Franklin Technology Partners network, which has catalyzed economic growth over the last 30 years by providing access to capital and networks that help foster innovation and technology-based economic development in Pennsylvania. Learn more at innovationworks.org.
Contact
Jane Joseph
Innovation Works
Mobile 412-722-8474
Lexie Capperella
Gregory FCA for Innovation Works