When Keith Rabois introduced he was leaving Founders Fund to return to Khosla Ventures in January, it got here as a shock to many within the enterprise capital ecosystem — and never simply because Rabois is an enormous title within the trade.

It was shocking as a result of not like in lots of different fields, enterprise capitalists don’t historically transfer round very a lot — particularly people who attain the accomplice or normal accomplice degree as Rabois had.

VC funds have 10-year life cycles and companions have good motive to remain that course. In some cases, they might be a “key man” on a agency’s fund, which means that in the event that they go away, the fund’s LPs have the fitting to drag their capital out in the event that they select. Many companions and GPs even have a few of their very own cash invested of their companies’ funds, which supplies them additional motive to stay round.

So, whereas big-name investor strikes in enterprise capital aren’t widespread, they appear to have grow to be so in current months. Up to now this yr, there have been notable cases of traders returning to previous companies, placing out on their very own or taking a pause from investing solely.

Simply today, Vic Singh, one of many co-founders of Eniac Ventures, introduced he was stepping down from the agency he helped launch in 2009 to launch his personal.

Singh joins a rising record of VCs who’ve left companies not too long ago.

April

  • On April 30, Ethan Kurzweil announced he was leaving his position as accomplice at Bessemer Enterprise Companions after 16 years. Kurzweil might be launching an early-stage-focused funding agency, in keeping with reporting from Axios. Kurzweil will launch the agency with Kristina Shen, who left Andreessen Horowitz after 4 years on March 29, and Mark Goldberg, who left Index Ventures after eight years final fall.
  • On April 1, Christina Farr announced that she’d be leaving OMERS Ventures, the place she has served as a principal investor and the lead of the agency’s well being tech apply since December 2020. Farr introduced on X that she’d be engaged on her well being tech e-newsletter, writing a e book centered on the ability storytelling can have on companies, and consulting well being tech founders.

March

  • After six years as a accomplice at Accel, Ethan Choi introduced that he’d be leaving the agency to go to Khosla Ventures in March. Choi might be centered on growth-stage investing at his new agency and has backed such firms as Klaviyo, Pismo and 1Password.
  • Whereas most of the current VC strikes have been by of us trying to begin one thing new, or tackle a special alternative, not all of them have been. On March 13, Chamath Palihapitiya’s Social Capital announced that it fired companions Jay Zaveri and Ravi Tanuku. Bloomberg reported that this was as a result of a matter involving elevating cash for AI startup Groq.
  • Rabois was not the one particular person trying to boomerang again to an previous hang-out on this current rise of investor reshuffling. On March 5, Miles Grimshaw introduced that he’d be returning to Thrive Capital as a normal accomplice after serving the identical place at Benchmark Capital for 3 years. Grimshaw initially began at Thrive Capital in 2013 and has backed such firms as Airtable, Lattice, and Monzo, amongst others.
  • Whereas transitioning from operator to VC is a standard profession development within the startup ecosystem, it isn’t for everyone. On March 4, Sam Blond introduced he had come to that conclusion and can be leaving Founders Fund, the place he had been a accomplice for about 18 months. Blond stated he would return to working and has held roles at firms reminiscent of Brex, Zenefits and EchoSign.

January

  • After 12 years at Andreessen Horowitz, Connie Chan announced she was leaving the agency on January 23. Chan had served as one of many agency’s normal companions the final 5 years and has backed firms reminiscent of Cider, KoBold and Whatnot.