Brickhouse Holdings LLC., a new management and holding company, has appointed David Paolo, GoGoCast Inc.‘s president and CEO, as managing director of its newly formed $10 million Rhode Island Technology Fund.Paolo remains president and CEO of GoGo Cast Inc. digital out-of-home firm. Brickhouse Holdings will use his more than 20 years experience as a technology leader to help grow the high-tech sector in Rhode Island.
Brickhouse Holdings has created a new model for the conception and funding of incubation stage companies. By using what Brickhouse calls Investment Pods, the company will provide technology start-up businesses with early stage seed financing as well as financial management, technology guidance and facility resources. Creating a collaborative of new technology companies in the Rhode Island area will give innovative businesses the opportunity to take advantage of a number of shared resources including: financial management, technology executives and engineers and facility utilization.
Paul Hummel, co-founder and equity partner of Brickhouse Holdings, says, “Paolo’s history of creating and building successful businesses and most recently his work navigating GoGo Cast Inc. from inception to the industry leader it is today made the choice for the appointment of our managing director simple. There is no doubt that he is the right leader to grow technology in Rhode Island.”
“I am thrilled to be a part of Brickhouse Holdings technology initiative in the state, and will execute this opportunity with the same vigor I have with past technology ventures,” says Paolo.
Brickhouse Holdings LLC. is expected to begin its selection process in the third quarter of 2011 and will begin funding qualified companies in early 2012. Business plans can be submitted at the company’s web site here.