Panorama Capital shrinks

Panorama Capital, a Silicon Valley venture capital firm, is losing two principals and one associate, according to VentureWire (subscription required).

The shrinkage occurs as the firm tries to raise money for its first independent fund since spinning out of J.P. Morgan last year. It plans to raise only $300 million, from an originally planned $500 million, according to an earlier report in August on PEHub.

Principals Vikram Gupta, who joined J.P. Morgan in 1998, and John Ryan, who joined in 2000, have left the Menlo Park, Calif., firm. Francis Ho, an associate who joined in 2004, is also leaving, according to the VentureWire report.

Update: Partner Chris Albinson tells us the firm has raised a portion of its latest fund (a first close), and there’s a subsequent tranche to be completed this fall. The firm recently added Audrey Vallen as CFO. The firm have already done three deals from the latest fund.

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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.

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