Ignition Scales Back Fund Size, Partners

Seattle-based venture investor Ignition Partners is making some big--very big--changes to its structure, according to reports Thursday evening, and plans to raise a $150M fund with only three senior partners. According to FORTUNE, which broke the story, Ignition is scaling back its newest fund to just $150M, down significantly from its prior fund, raised in 2007, which was $400M. As part of that move, the new fund's partners will only include John Connors, Frank Artale, and Nick Sturiale, meaning--as FORTUNE reports--"lots of people are on their way out." Ignition is not the only venture capital fund to face similar issues in recent years, as venture funds have faced headwinds from a less-than-stellar IPO market, scaling back of limited partners in venture capital allotments, and exits via acquisitions which have been unable to sustain the returns expected in those venture funds.


More Headlines