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Tuesday, Jul 23, 2024
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PayLease’s Loss of an Executive May Be Gain for Tech Startups

Sheldon Lewis, vice president of business development for PayLease, is leaving the company to pursue investing in technology startups on a full-time basis.

Lewis joined the Sorrento Valley-based software firm, which provides payments and billing for property management companies and home owners associations, more than four years ago.

Previously he had been with San Francisco-based growth equity firm Mainsail Partners, which took a majority stake in PayLease in 2010, a deal sourced by Lewis.

PayLease was acquired in 2014 by Francisco Partners, but Mainsail only recently exited its investment, selling its stake this summer as part of PayLease’s acquisition by Austin, Texas-based Vista Equity Partners.

Since moving to San Diego Lewis said he has invested in a number of local companies, including construction tech startup eSUB Construction Software Inc. and SLANTRANGE, which makes sensor and analytics systems for agricultural drones.

“I’ve done it on nights and weekends now, but I want to go full time,” he said.

Lewis plans to travel for a time before returning to San Diego to start his own fund or join an existing one.

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