Life After Sempre
As many of you know, I’ve spent the last several months trying to raise a venture debt firm with two good friends, Bob Fleming (Prism Venture Partners) and Mike Feinstein (Atlas Venture and Venrock). Despite our track records, the fundraising environment wasn’t favorable for a ‘first-time fund’. Both Bob and Mike have moved onto interesting projects and we remain friends.
After doing a lot of research, I joined Eastward Capital Partners this past Monday. Eastward is one of the veteran firms in the industry. The firm has a great team that takes their work seriously while managing to retain a sense of humor. Without exception, they are good people doing good work. Culturally, that fits very well with me.
I’ll be spending my time completing the fundraising for their seventh fund and doing deals. It’s only the beginning of day 4 and I’m seeing some very promising companies that need our growth capital to fuel their expansion. The entrepreneurs do all of the heavy lifting – we just provide the capital. Having said that, it gives me some small measure of pride to have played a supporting role in over 200 company financings…but there is much more work to do.
Stay tuned for some updates on the fundraising markets and deals…