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Ten Coves Capital Announces the Promotions of Steven Lula to Partner and Kyle Kruse to Vice President
NEW YORK, N.Y. and DARIEN, Conn., February 9, 2023-- Ten Coves Capital ("Ten Coves"), a FinTech-focused growth equity firm, announced today that Steven Lula has been named a Partner of the firm, and Kyle Kruse has been promoted to Vice President.
"Steve and Kyle's promotions recognize their important contributions not only in leading new investment activity and supporting our portfolio companies, but also in helping to scale the Ten Coves platform," said Steve Piaker, Managing Partner at Ten Coves. "We greatly value the talent and commitment that Steve and Kyle have contributed to Ten Coves, and are proud to continue a tradition of growing firm leadership internally."
Steve has been with the Ten Coves team for seven years. Since joining in 2016, Steve has helped lead investments in a number of current and former Ten Coves' portfolio companies including 7shifts, Canopy, Nvoicepay, Point Predictive, Sentieo, SteelEye, TrueMotion, Quovo, and Q4 Inc., et al., and has been an important advisor to those companies as they've scaled.
"We are thrilled to welcome Steve as our newest Partner and grateful for his tremendous contributions to date; we have no doubt he'll continue to go above and beyond to support Ten Coves' incredible roster of founders and entrepreneurs, all of whom are working to shape the next generation of financial services," said Ned May, Managing Partner at Ten Coves.
Prior to joining Ten Coves Capital, Steve worked as an Investment Banking Associate in the Financial Institutions Group at Morgan Stanley. Steve began his career at Ally Financial where he worked on securitization and asset-backed debt transactions. Steve received a BBA from Western Michigan University and an MBA from Columbia University.
Kyle joined the Ten Coves team in 2019 and has played an integral role in the firm's investments in DadeSystems, Kasisto, Lendio, Point Predictive, Roostify, TealBook, and TrueMotion.
"Kyle's promotion underscores the value he brings to the Ten Coves business and portfolio companies," said Dan Kittredge, Managing Partner at Ten Coves, "Kyle's responsibilities have expanded significantly since he joined four years ago; we're delighted to announce his new role as a Vice President and are confident that he'll continue to be a significant contributor to the growth of the firm."
Prior to joining Ten Coves Capital, Kyle was an Analyst at Morgan Stanley in the Corporate M&A and Strategy Group, where he evaluated principal transactions and executed strategic initiatives on behalf of the firm. Kyle received a BS in Finance from Fordham University where he graduated summa cum laude.
About Ten Coves Capital
Ten Coves Capital backs high growth B2B software companies across the FinTech ecosystem where its capital, network, and decades of experience can help accelerate growth and value creation. Investing across payments, banking & lending, asset management, capital markets, and insurance & benefits (among other segments), the Ten Coves team has helped scale 40+ companies that are solving industry pain points, enabling workflows, and providing critical infrastructure to the largest financial institutions down to SMBs. For more information, visit tencoves.com.
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