Thursday, October 11, 2012

Report: OVP Venture Partners Winding Down

Kirkland-based venture capital firm OVP Venture Partners is winding down its operations after over 30 years in the business, according to a report from Xconomy. According to an interview with Gerry Langeler, one of OVP's managing directors, the firm is apparently letting go of three of its six Managing Directors by the end of the year, with the three remaining partners monitoring investments from its 2007 fund, before closing its doors. OVP has been around since 1983, and run six venture capital funds; the firm has racked up 52 exits and 22 IPOs across all of its funds.