10X Capital Venture Acquisition Corp. III appointed David Weisburd as new CEO

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


Departure of Hans Thomas as Chief Executive Officer


On January 9, 2024, Hans Thomas and 10X Capital Venture Acquisition Corp. III ("10X III") agreed that Mr. Thomas will no longer serve as 10X III's Chief Executive Officer, effective January 9, 2024. Mr. Thomas will continue to serve as Chairman of the Board of Directors of 10X III (the "Board").


Appointment of David Weisburd as Chief Executive Officer


On January 9, 2024, the Board appointed David Weisburd as 10X III's Chief Executive Officer, effective January 9, 2024.


Mr. Weisburd has been 10X III's Chief Operating Officer, Head of Origination and a member of the Board since February 2021. Mr. Weisburd founded the venture capital firm Growth Technology Partners in May 2015 and served as general partner until December 2019, when the firm was acquired by 10X Capital Holdings LLC ("10X Capital"). The portfolio companies of Growth Technology Partners include 23andMe, CaaStle, Circle, Palantir, Pipefy, Punchh, Ripple, Tonal, Vicarious and Wish. Mr. Weisburd now serves as General Partner and co-head of venture capital at 10X Capital, where he has led the firm's investments into Robinhood, Compass Therapeutics, HeadSpace and DraftKings Inc. (Nasdaq: DKNG). Mr. Weisburd also serves as a partner of Flight VC, an investment syndicate with over 2700 members across Silicon Valley and other tech hubs including Boston, Los Angeles, and New York, and whose members range from angel investors to entrepreneurs and venture capitalists. Flight VC has a prolific track record investing in companies including Betterment, Carta, Cruise Automotive, Discord, Dollar Shave Club, Fastly, Inc. (NYSE: FSLY), LinkedIn, Paypal, Inc. (Nasdaq: PYPL), Rent the Runway, and many others. In addition to his direct investment activity, Mr. Weisburd has also conducted a substantial amount of secondary market investment into companies such as Lyft, Inc. (Nasdaq: LYFT), One Medical Group (Nasdaq: ONEM), Space X, and Spotify (NYSE: SPOT). Prior to his venture capital career, Mr. Weisburd was on the founding teams of two venture-backed technology startups, isocket (acquired by Magnite (Nasdaq: MGNI)) and RoomHunt (acquired by RentLingo). Mr. Weisburd received a BS in management and entrepreneurship from Indiana University - Kelley School of Business, an MBA from Dartmouth - Tuck School of Business, and a masters in psychology from Harvard University.


There are no family relationships between Mr. Weisburd and any director or executive officer of 10X III. In addition, Mr. Weisburd has no direct or indirect material interest in any transaction or proposed transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.


10X III did not enter into an employment agreement with Mr. Weisburd in connection with his appointment as Chief Executive Officer.


Departure of Oliver Wriedt as President and Head of Capital Markets


On January 9, 2024, Oliver Wriedt and 10X III agreed that Mr. Wriedt will no longer serve as 10X III's President and Head of Capital Markets, effective January 9, 2024.


Appointment of Osman Ahmed as President


On January 9, 2024, the Board appointed Osman Ahmed as 10X III's President, effective January 9, 2024.


Mr. Ahmed is a Managing Director and Head of Private Equity at 10X Capital. He has over 12 years of principal investment, advisory, and operating experience. Prior to joining 10X Capital, Mr. Ahmed was the CEO of Founder SPAC, a $321M special purpose acquisition company focused on digital transformation. Founder SPAC successfully completed its merger with Rubicon Technologies (NYSE: RBT) in August 2022. Previously, Mr. Ahmed was an investor at KCK Group, a private markets investor. He also served as CFO of Beehive Industries, a KCK Group Portfolio company. Mr. Ahmed previously has held roles at Volition Capital, Scale Venture Partners, and Stifel Financial (NYSE: SF). Throughout his career, Mr. Ahmed has executed leveraged buyout, special situations, and growth equity investments in technology, business services, industrials, and healthcare. Prior closed deals include: Harvest Food Distributors, Sherwood Food Distributors, Hibernia Networks (acquired by GTT), RingCentral (NYSE: RNG), TraceLink, Al Fakher Tobacco, Better.com (NASDAQ: BETR), and others. He currently sits on the board of directors of Rubicon Technologies (NYSE: RBT) and serves as the company's lead independent director and sits on the board of directors of African Agriculture Holdings Inc. (Nasdaq: AAGR). Mr. Ahmed holds a B.S. in Computer Science from the University of Southern California and an M.B.A. from the University of Chicago Booth School of Business.


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There are no family relationships between Mr. Ahmed and any director or executive officer of 10X III. In addition, Mr. Ahmed has no direct or indirect material interest in any transaction or proposed transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.


10X III did not enter into an employment agreement with Mr. Ahmed in connection with his appointment as President.