Updated
Here are the latest ups and downs of Silicon Valley’s venture capital/investor community:
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is was the hot-shot San Mateo, Calif. private equity firm run by the energetic and enthusiastic Terry Garnett, along with his partner David Helfrich. They raised a first fund of $250 million in 2004 and did so well investing that that they raised another $100 million in 2005, and then started raising another $750 million fund in November. They expanded to India, driven by their partner, Mark Barrenechea, who had run Computer Associates and Oracle operations there. But then something happened. Turns out, Barrenechea has left, according to PE Week’s Dan Primack. This comes after it recently lost director Mike Guthrie, and Betty Hung, who had been hired just six months earlier as vice president of portfolio company operations. G&H has even removed the “Team” page from its website. A spokeswomen told VentureBeat the firm has no comment.
Related, but separate — The CIA infiltrates social networking company, Facebook. ;)
Leapfrog Ventures — Is croaking, not leaping. After Leapfrog investor Peter Rip left to join San Francisco firm Crosslink Capital, the firm downsized from $100 million to $65 million, and agreed to make a couple more investments, before winding down. [Correction: It appears our sources (two people) presented us with one side of the story. One of the two remaining partners, Pete Sinclair, tells VentureBeat he has an option of keeping the fund at $100M if he finds another partner by March 2007 2008, and that he has no intention of winding down!]
Founders Fund — More details on the politics social networking site, Philotic, the first investment by Founders Fund partner, Sean Parker, of Napster/Plaxo/Facebook fame.
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