Wednesday, May 20, 2015

SV Angel's David Lee Resigns To Spend More Time In LA

Venture capitalist David Lee, who was Managing Partner of seed and angel investing fund SV Angel, one of the most active venture investors in San Francisco, has resigned to spend more time with his family in Los Angeles, the fund told its Limited Partners on Tuesday. According to a memo leaked from the firm, Lee has decided to spend more time with his wife, children, and extended family in Los Angeles. The memo went out to the fund's Limited Partners, founders, and partners on Tuesday. It's unclear if Lee will be joining one of LA's venture capital or private equity investors, but any such move by Lee would bring some serious new investment firepower and connections to the local venture market. SV Angel has been an early investor in such unicorns as Airbnb, Dropbox, Snapchat, and Pinterest.