The fund, Light Street Capital, will be based just down the street from Integral’s offices on Sand Hill Road in Menlo Park, Calif. It is classified in the filing as a hedge fund, which should mean it will have the option of buying public and private shares — Integral’s longtime strategy — as well as pursuing other investment strategies. The fund has raised $7.5 million, according to the Tuesday filing.
Kacher declined to discuss the filing. However, on his LinkedIn profile, he lists himself as founder and managing partner at Light Street since May of last year. He was at Integral from 1998 through the middle of this year, according to the profile, where he developed portfolio strategy for public investments as well as leading venture investments.
Some of the deals Kacher led, according to the profile, include investments in Agile Software (which went public and was later acquired by Oracle), Arcsight (which went public and was later bought by HP), OpenTable (public), and Overture/Goto.com (which went public and later sold to Yahoo).
Kacher also has one of the most widely held educational credentials among Silicon Valley venture capitalists: a Stanford MBA.
It’s unclear what relationship Light Street has with Integral. The latter — founded in 1991 by T. Rowe Price alumns Roger McNamee and John Powell, together with venture firm Kleiner Perkins Caufield & Byers — was a pioneer in the strategy of investing in expansion stage private companies and growth stage public companies in the technology and life sciences industries. In 1999, Integral also co-founded Silver Lake Partners, today one of the largest private equity players in the technology space, and later co-invested in some of its deals.
Today, Integral says on its website that it is “no longer active in the public equity markets” but does manage private equity portfolios on behalf of its investors.