Venture Capital Partners Are Leaving Big Firms in Droves
Mired in an industry downturn, investors that usually stick around for years are stepping back from jobs to start new firms — or getting pushed out.
Mike Volpi, a key player at Index Ventures until last year, has hired two investors for a new firm, Hanabi Capital, according to people familiar with the matter.
Photographer: Benjamin Fanjoy/BloombergBeing a venture capital partner is supposed to be a job for life. But in 2024, dozens of investors at some of the most storied firms have quit or been pushed out, the effect of a protracted startup downturn and a broader shift in the role of VC firms.
In the last month alone, Matt Miller said he was leaving Sequoia Capital after more than a decade; Lux Capital general partner Bilal Zuberi started work on a new fund; and general partner Sriram Krishnan left Andreessen Horowitz. Krishnan is planning to work with the White House advising on AI policy, he said on Sunday.