The recent wave of venture capitalists making unexpected moves within the industry has left many people surprised. Traditionally, venture capitalists tend to stay with their firms for the duration of the fund’s lifecycle, which is typically around 10 years. However, in recent months, there have been several high-profile instances of investors returning to old firms, pursuing independent ventures, or taking breaks from investing altogether.
In July, Anne Lee Skates announced her departure from Andreessen Horowitz, where she had been a partner on the consumer team since 2019. Skates expressed her intention to pursue her “life’s work” and will be sharing more about her future plans soon. During her time at Andreessen, she backed notable companies like Alloy, Cider, and All Day Kitchens.
Another significant move occurred in June when Spencer Peterson left Bedrock after serving as a partner for five years. Peterson joined Coatue as a general partner and has investments in companies like OpenAI and Rippling. Additionally, Amanda “Robby” Robson left Cowboy Ventures in June and plans to launch her own fund.
In May, Serena Ventures founding partner Alison Stillman stepped back from the firm after nearly six years. Stillman did not disclose her next step. Terri Burns, previously the first Black woman partner at GV, announced the launch of her new venture firm called Type Capital, focusing on pre-seed and seed-stage startups. Fika Ventures co-founder Eva Ho also transitioned out of the firm for personal reasons after Fika finished deploying its current fund.
Other notable departures include Alison Lange Engel, who left Greycroft in May to become the CEO of AI-powered design company Ceros. Vic Singh announced his departure from Eniac Ventures after 15 years and intends to launch his own firm. In April, Ethan Kurzweil left Bessemer Venture Partners after 16 years to establish an early-stage-focused investment firm alongside Kristina Shen and Mark Goldberg. Christina Farr also announced her departure from OMERS Ventures to pursue her health tech newsletter, writing a book, and consulting health tech founders.
In March, Ethan Choi left Accel after six years to join Khosla Ventures, where he will focus on growth-stage investing. Social Capital fired partners Jay Zaveri and Ravi Tanuku due to a matter involving raising money for AI startup Groq. Miles Grimshaw returned to Thrive Capital as a general partner after three years at Benchmark Capital. Sam Blond decided to leave Founders Fund after 18 months to return to operating.
The trend of VC reshuffling also saw Connie Chan leaving Andreessen Horowitz after 12 years as a general partner. Chan has backed companies like Cider, KoBold, and Whatnot.
These recent moves highlight a shift in the venture capital industry, with more investors exploring different opportunities or returning to familiar grounds. While the reasons behind these decisions vary, it’s clear that venture capitalists are willing to take risks and pursue new ventures in their careers. As the industry continues to evolve, it will be interesting to see how these changes impact the startup ecosystem and the investments being made.
