Apple is an American Multinational Technology company. Its headquarters is in Cupertino California. It produces consumer electronics, hardware products, software products etc. According to the reports from Bloomberg, Fred Anderson and Avie Tevanian who were Steve Job lieutenants and former CFO of Apple have joined together for a venture capital fund named NextEquity. The new joint venture fund has come from their respective contributions towards the venture and it also included funds from outside investors. Avie Tevanian had been a software engineer in the NeXT firm under Steve Jobs before Avie followed the founder of Apple back to Cupertino, California in the year 1997.

Elevation partners which is a multi‐billion dollar private equity fund that is fronted by Bono of U2 has started the operations of winding down. Avie Tevanian and Fred Anderson were once involved with the Elevation partners.

As per the publications where Avie Tevanian said that their venture had already started to make various investments. But it is not yet found that how much fund the new venture, NextEquity has raised till now. It’s not yet clear that whether NextEquity has concentrated on a specific focus area where the funds do concentrate in those areas in which the partners have their expertise or it would be acting as an investor with general purpose. Avie Tevanian and Fred Anderson are not only the first ex‐employees of Apple who have become investors but they are also among the most high profiles.

Scott Forstall who was the former iOS chief fired over the Apple Maps rollout disaster and he became a Broadway producer. The first Musical Show, Fun Home, with all the female writing employees won a Tony was his show. This success in a somewhat peculiar investment had made Scott Forstall to invest in another play that is known as Eclipse.