The exit is also notable because it comes 10 months after SRF halted fund-raising for its 10th fund, telling its limited partners that there were “fundamental structural problems in the venture industry.” As of late August, the firm’s partners were still in discussions about SRF’s future, but Sturiale says “there will be some clarity on that in the coming months, if not weeks.”
Editor Lawrence Aragon asked Sturiale six quick questions:
Q. XenSource was your first big hit as a VC. How did you celebrate?
A. I went to a board meeting and got back to work.
Q. Some people, including me, think the XenSource proves that the venture model isn’t broken. What’s your take on that?
A. There’s still too much money chasing too few quality deals, but that doesn’t mean you can’t make money on individual projects, like a XenSource.
Q. Does the XenSource exit prove anything?
A. It relates to L.J. Sevin’s signature advice, which is to do good deals.
Just for kicks
Q. Would you rather golf with Tiger Woods or Bill Murray?
A. Bill Murray.
Q. Typical order at Starbucks?
A. Vente drip, room for milk.
Q. Superman, Batman or Spider-Man?