Former Yahoo! executive Ash Patel has started a $10 million micro-venture investment company. The investment company is called Morado Ventures. “Morado” translates to “purple,” which is Yahoo!’s color.
Some of the investors in the fund include Yahoo! CEO Terry Semel, former COO Dan Roseinweig, and former ad sales head Greg Coleman. Former Yahoo! President Sue Decker is also considering to put money in the fund.
Yahoo! founders Jerry Yang and David Filo will be limited partners without investment decision power. Morado will focus on small funds, similar to angel group investments. Patel worked at Yahoo! for 14 years. His most recent job there was EVP for Product Architecture & Strategy. He took a sabbatical last November and never went back.