Entrepreneur Fearon to focus on JF2, hands Gilcrux reins over to COO
By Digital News Asia September 17, 2014
- Dropmysite, EatAds, ApexPeak, KluJe and Telr to remain with Gilcrux
- Fearon's early stage startups Folr and Voicemap to move to JF2
SINGAPORE-based serial entrepreneur John Fearon (pic) has vacated his post at the accelerator and investments holding company he founded, Gilcrux Holdings, to focus on his new incubator JF2.
He has handed over the Gilcrux Holdings chief executive officer (CEO) reins to current chief operating officer John Sharp.
JF2 (pronounced J-F-Squared) is an early-stage startup studio. Unlike traditional accelerators and incubators, startup studios like JF2 build multiple products and startups simultaneously, using shared resources from beginning to end, the company said in a statement.
JF2 aims to uncover startup gems from the idea stage, provide seed funding, establish proofs of concept, and arrange for eventual exits, it added. South African-born Fearon is founder and CEO.
“The start-to-end approach with shared resources provides much more value and insights than traditional incubators,” he said.
“Instead of an assembly line rushing initiates out in hopes that a few succeed, JF2 will nurture all its greenfield ideas to change the world,” he added.
Existing Gilcrux Holdings businesses such as data archiving service Dropmysite, outdoor advertising marketplace EatAds, working capital platform ApexPeak, home renovation portal KluJe, and online payment platform Telr will remain at Gilcrux Holdings, .
Two of Fearon's early stage startups – Folr, a family geo-locator app, and Voicemap, a travel audio guide app – will move from Gilcrux Holdings to JF2.
Newly-appointed Gilcrux Holdings CEO Sharp is a veteran entrepreneur, inventor, and angel investor, the company said.
He has spent almost 30 years working in telecoms, technology, and media. Since joining Gilcrux Holdings a year ago, he has helped engineer two mergers and acquisitions, raised over US$100 million for the company's ventures, and spearheaded the group's push into the Middle East.
Sharp (pic) said he intends to keep the company on its current course, with a focus on growth-stage business enablement, financial services, and marketplace platforms.
“Working with Fearon has been a blast. He’s built a great team and created a ton of value over the past three years. I wish him nothing but the best as he re-enters the startup universe,” said Sharp.
At JF2, the startup studio owns the majority of the equity in the startups it creates. There will be full-time staff (development, marketing, design, etc.) shared by all startups.
The studio will focus on creating plenty of brand new businesses and products in the mobile, financial services technology (fintech) and business-to-consumer realms.
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