Lawrence Aragon
Want to be a talent magnet? These veteran VCs say mentoring, 'passing the ball' and sharing carry equally are key.
Fund III's investors include CalSTRS, the Grantham Foundation, the University of California, Sobrato Capital, Strategic Investment Group and Northwestern University.
The firm sent a letter to investors that says its partners 'are planning to come back with a new strategic plan within a 180-day period,' an LP tells Venture Capital Journal.
One LP says the 17-year-old firm did not give them a heads up, while OpenView’s LPAC did not learn about the move until half an hour before the news broke.
Venture Capital Journal surveyed 117 institutional investors worldwide to find out what is most – and least – important to investors in venture funds.
Fund III's backers include university endowments, family offices, foundations and fund of funds. LPs in the firm's previous fund included Harvard and Princeton.
Fachler will manage investment out of the firm's third fund, which closed on $150m earlier this year.
Prior to joining Defy VC, Amy Yin was founder and CEO of OfficeTogether and Medha Agarwal was a partner at Redpoint Ventures.
Menlo says the newly raised capital will go to its flagship venture fund Menlo XVI, Menlo Inflection III and affiliated funds 'with a mandate to invest in promising technology companies leading the AI transformation.'
Kearney's focus includes investments across the climate, advanced computing and human health sectors.
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