By JAMES FINK
Business First

The Seneca Nation of Indians tapped a Boston venture-capital veteran to head up its young Seneca Holdings LLC investment firm.

David Kimelberg, who had been SoftBank Capital/Softbank Holdings vice president and general counsel, has been hired as Seneca Holdings CEO. Kimelberg has worked in SoftBank's Boston office since 2003. Kimelberg begins his Seneca Holdings tenure today; his family will relocate to Western New York soon.

Seneca Holdings was formed in July as a vehicle to help the Seneca Nation diversify its assets and create wealth for its more than 7,000 members by investing in and buying companies. The Seneca Nation plans to allocate $28 million for incremental investments to Seneca Holdings during the next five years, starting with a $3 million investment this year.

"We wanted to find the right person to lead Seneca Holdings, and David is the perfect choice," said Robert Odawi Porter, Seneca Holdings management-committee chairman. "David possesses the skills and experience to turn Seneca Holdings into a strong vehicle to boost the Nation's economy, create jobs and other economic development opportunities, and help fund our Nation's long-term revenue needs."

Kimelberg is an enrolled member of the Seneca Nation's Bear Clan.

"This is a compelling opportunity for me to lead what we envision as a dynamic, diverse and independent source of revenue for the Nation," he said.

At SoftBank, Kimelberg was a principal and oversaw both U.S. and foreign investments. He also spent time in private practice with Boston's Foley Hoag LLP, representing venture-capital groups and emerging companies.

Kimelberg has also practiced corporate and tax law with New York City's Cadwalader Wickersham & Taft LLP and was at one time a law clerk for U.S. Bankruptcy Court Judge Hon. J. Michael Deasy.

Kimelberg with high honors from both Cornell Law School and Northeastern University. At Cornell, Kimelberg was editor of the Cornell Law Review and a member of the Order of the Coif, a scholarly society.