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.
