Deborah Magid, who spent more than 20 years at IBM and its CVC unit, has launched an AI-focused VC firm called DoubleStar Venture Partners.
Deborah Magid, formerly part of IBM Ventures, the corporate venture capital arm of US IT technology firm IBM, has launched a venture capital firm in Silicon Valley.
Co-founded with fellow managing director Alexandra (Sasha) Johnson and joined by venture partner Steven Colby, DoubleStar Venture Partners will focus on seed and series A-staged AI-driven startups. Target areas include climate, sustainability, healthcare, drug development and cybersecurity.
Magid spent more than two decades at IBM from 2001, most recently as director of software strategy at IBM Ventures. After she left the unit in June 2023, she joined startup mentoring platform Pitch Global as CVC in residence.
“Exactly one year after I left IBM Ventures, we are starting up our new fund,” Magid said in a LinkedIn post. “DoubleStar refers to our two managing directors, Deb and Sasha – two women in corporate venture and early-stage venture complementing each other.
“We have great partners here for co-investment and deal flow, and are ramping up our fund raise.”
