A year later, crumbling VSP disintegrates further
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Gosh, this saga at VSP Capital in San Francisco is getting really ugly. We don’t especially like pointing to the latest dirty laundry, but we do it because it may teach valuable lessons for others: If you’re considering joining a venture capital firm, be very careful who you join with.
We haven’t confirmed this latest stuff ourselves. But it seems Constance Loizos, of PE Week, has done thorough reporting. It is astonishing how something can self-destruct so terribly. If only the partners had told themselves two years ago, before all this happened, they had plenty of money to make a decent living, they were making ok investments, and that all they had to do was disclose a few relationships to stay out of some pending trouble, perhaps none of this may have happened. Armchair quarterbacking, yes. But maybe those wise prophets who taught that mammon is the root of all evil were right after all. Something given short shrift these days in wealthy SF-Silicon Valley.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
