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Lighter Capital Hires BJ Lackland as New CEO

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Revenue-based investment startup, Lighter Capital, announced today it has hired BJ Lackland to replace Andy Sack as CEO.

Sack, who will stay involved in the startup, plans to focus on his roles as general partner at Founder’s Co-op and director of TechStars Seattle.

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Lackland comes to Lighter Capital as the former CFO of Power Efficiency Corporation.

Xconomy reports Lackland’s vision for the startup’s future:

“As he takes over, Lackland says Lighter Capital has learned some lessons that will change its approach in the future. The company won’t be going after pre-revenue companies, he says, and will likely focus on customers that have some kind of a software or tech focus (and the accompanying high profit margins).”

To learn more about Lighter Capital, watch its FinovateFall 2011 demo.