Beth Seidenberg joined Kleiner Perkins 13 years ago to focus on life sciences for the storied venture firm. Now, according to a Recode report, she’s heading off to start her own life sciences venture fund in L.A. where she lives.
We’ve reached out to Kleiner and we’re awaiting more information. But the firm seemed to confirm the move to the outlet, reportedly noting that Seidenberg will continue to be a partner in Kleiner’s existing funds and stating that Kleiner remains committed to life sciences.
While the move is interesting from a firm perspective — Kleiner has undergone one transition after another over the last half dozen years, parting ways with at least 10 investors, including Trae Vassallo, Mike Abbott, Chi-Hua Chien, Matt Murphy, and Aileen Lee — it’s perhaps even more interesting as part of an ongoing change to the broader industry.
Whereas a decade or so ago, one held on to his or her role inside a venture fund by their fingernails if they had to, that’s no longer the case. While there are still a handful of firms that it would undoubtedly be hard to leave, it’s become easier for many VCs to abandon …read more
Source: Tech Crunch