C. Lloyd Mahaffey, former chief marketing officer of Verifone Inc., has become a principal of Redleaf Venture Management in Saratoga, Calif.

Redleaf is an early-stage investor in Internet technology companies. Mr. Mahaffey will be raising a fund, Redleaf Venture II, and is already a director of several Redleaf portfolio companies.

He fits the profile of "partners who, having done it before, are willing to offer intense direct experience to build value," said Redleaf founder John Kohler.

Mr. Mahaffey, 43, joined Verifone in late 1995 and rose to senior vice president of global marketing and development. Working closely with chairman Hatim Tyabji, who recently retired, Mr. Mahaffey played a key role in integrating Verifone last year with its acquirer, Hewlett-Packard Co.

Earlier, he led Apple Computer Inc.'s moves into the education market.

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