The James Bond of venture capital doesn’t waste time.
Only two days after we reported that Gilman Louie was leaving his position as CEO of the CIA’s venture fund, we find out he is joining with former journalist and investor Stewart Alsop in raising a new venture capital fund.
VentureWire (subscription required) reports they are raising a modestly sized $75 million fund to invest in early-stage technology companies. The new venture will be called “Alsop Louie Partners,” and based here in…
Mr. Alsop, 53 years old, says investors have so far committed about 20% of the $75 million he is trying to raise. NEA, Mr. Alsop’s old firm, is an investor in the fund. Mr. Alsop, a former magazine editor, joined NEA in 1996. He left his position as a NEA general partner about a year ago, saying he and the firm were no longer a good fit.
At their new firm, Messrs. Alsop and Louie don’t intend to sit on many boards of directors, as venture capitalists traditionally do, but plan to guide entrepreneurs outside of board meetings. That has been In-Q-Tel’s model, says Mr. Louie.
For more background on Alsop, read our mini-profile done a few years ago, during the tough post-bubble times. Alsop humored us, opening up with an honest look at his failures.
And as for Louie, see the first link above for more about him. We know called him “Q” in previous stories, but check out the photo — we decided he looks more like Bond….James Bond.