Tuesday, April 26, 2011

Report: Mailroom Fund Demise Due To William Morris

News of the demise of Los Angeles venture capital fund The Mailroom Fund, the joint venture capital effort of Accel Partners, Venrock, the William Morris Agency and AT&T, is finally trickling out. According to a report today by Fortune, the fund's closure came due to loss of interest at William Morris after its merger with Endeavor. However, the fund--whose closure has been a not-so-well-kept secret in Southern California for the last year or so--has not made any investments since May of last year. The fund had actually stopped looking for new investments in October of 2009, when Richard Wolpert, the fund's Managing Director, suffered a devastating loss of a family member. Wolpert took an extended leave of absence from his investment efforts and managing the fund, and has since moved on to other efforts. Fund co-founder Paul Bricault recently surfaced at Greycroft Partners. Mailroom was a backer of Adventurelink, Cocodot, and Sometrics.