Aliso Viejo-based Octane, a booster group that supports Orange County technology and medical startups, said Thursday it combined with the Orange County Venture Group.
Financial terms of the deal weren’t disclosed.
Both groups organize events that bring together members of the local business community and help to connect young companies with investors and talent.
Under the agreement, which was approved by the boards of both groups, all operations and program management now will be managed by Octane.
OC Venture Group board will continue to develop programs related to venture capital and will now be called the Octane investor advisory board.
“The combination … is extremely compelling for our members, sponsors, and the local business network as it will create a powerful leader in the innovation community with expanded depth and reach,” said Octane Chief Executive Matthew Jenusaitis said in a statement.
Jenusaitis came on board at Octane in June after Gary Augusta, who held the post for five years, stepped down.
He’s is a biotechnology veteran.
Most recently, Jenusaitis worked with the venture fund of Minneapolis-based ConcepTx Medical Inc. Before that, he was president of Plymouth, Minn.-based EV3 Inc., which develops technologies to treat vascular diseases.
He spent more than 20 years in various management, engineering and marketing posts at Boston Scientific Corp. and Deerfield, Ill.-based Baxter International Inc.
