As One of the Largest Pre-seed Investment Companies, this C-suite Position will Help Techstars Create Efficiency and Build Scale
Techstars, a global investment business that provides access to capital, one-on-one mentorship, and customized programming for early-stage entrepreneurs, welcomes David Prael as the new Chief Financial Officer reporting to CEO, Maëlle Gavet. Following other recent C-suite leadership announcements, this newest executive appointment will contribute to the company’s continued strategy supporting programmatic growth and global expansion.
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David Prael, Techstars Chief Financial Officer (Photo: Business Wire)
Based in Chatham, New Jersey, Prael’s finance and operations background includes creating functions and centers of excellence, embracing the utilization of third-party service providers, and developing robust technology strategies to create efficiency and scale across the business. His experience and background from the day-to-day financial management of nearly 100 funds, including the complex investor and regulatory reporting requirements, will be integral to his new role as Techstars continues to scale and add more and more early-stage companies to its portfolio.
“David’s long track record as a trusted advisor in our industry, coupled with his vast experience in rapidly growing multifaceted organizations, will benefit our investors, entrepreneurs, and Techstars over the long-term,” said Maëlle Gavet, chief executive officer of Techstars. “Over the course of his career, his ability to navigate complex finance issues using innovative approaches has delivered strong results and has been deeply respected in the investment community.”
Building on his background in designing transformation strategies for other organizations, Prael will be tasked with identifying robust, efficient, and scalable infrastructure and systems while in tandem designing a best-in-class Finance organization to support Techstars’ ambitious growth targets.
Prael spent the last 15 years at Fortress Investment Group with his most recent role as Chief Financial Officer and Chief Administrative Officer for the credit and real estate business. Prior to that, he established and managed the company’s Financial Planning and Analysis and Corporate Operations teams. He also was a significant contributor in the company’s Initial Public Offering (IPO). Before Fortress, he worked in various capacities for IBM. Prael received a Bachelor of Science in Finance and International Business from Pennsylvania State University and is proficient in Spanish.
The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 2,800 companies with a combined market cap of more than $195B. www.techstars.com