Lehman Brothers Spins Off Venture Capital Arm
Tue, Feb 24th, 2009
On Silicon Valley’s Sand Hill Road, an old venture capital firm has a new name. Lehman Brothers Venture Partners, the venture arm of the bankrupt investment bank, announced Tuesday that it has spun off as an independent fund, Tenaya Capital.
The fund, which has $750 million under management, has been run by five general partners for a decade. They bought Lehman Brothers’ minority general partner stake. HarbourVest, a secondary firm, which buys investors’ stakes in venture capital funds at a discount, bought Lehman Brothers’ limited partner stake, including $75 million of the $365 million fund that Tenaya is currently investing.
Read the whole story on New York Times or try our Toolbar
We took a look at Lehman Brothers Venture Partners (LBVP) portfolio on ChubbyBrain (www.chubbybrain.com) and thought the following might be of interest. (Note that our information on LBVP is not complete)
- 15 portfolio companies listed on ChubbyBrain
- The portfolio mix for these 15 companies breaks down as follows: 27% in Consumer Products & Services, 40% in Business Products & Services and 33% in Technology
- They’ve regularly co-invested alongside Benchmark Capital and Sequoia Capital
- The portfolio has a 5-star rating based on only 2 reviews of portfolio companies (one for TeleNav and one for MyShape)
The LBVP portfolio profile as seen on ChubbyBrain is visible here:
http://www.chubbybrain.com/investors/lehmanbrothersventures