Octane Names First CEO, New Alliance

DALLAS-Octane Ventures LLC has knocked out two of three major decisions, selecting its first CEO and an e-commerce partner. Still to come will be the headquarters location for the powerbroker alliance.

Jim Huser, former COO of US Interactive, will be leading the alliance of CB Richard Ellis, Insignia/ESG, Jones Lang LaSalle Inc. and Trammell Crow Co. With a CEO in place as of June 26, Octane is poised to forge inroads into the commercial real estate industry that have been promised in the past but never fully delivered by other online ventures.

To push the online drive, the alliance has kicked in $10 million out of a $13-million capital funding to workplaceIQ Ltd., headquartered in Waltham, MA. Israel Infinity Fund, Genesis Partners, CLAL Ltd. and the Cedar Fund also are participating in the Series B funding round.