We’ve mentioned the decision by Silicon Valley firm Mobius Venture Capital to throw in the towel, and to not raise another fund, due to poor performance.

Now Brad Feld, one of its partners, is joining up with four other Mobius professionals to strike out on their own. That Feld was trying to do this has been known, but VentureWire (sub required) has more details, mentioning that the plan is to raise $175 million to $200 million.

The firm, still unnamed, will be based in Colorado but will invest throughout the U.S., VentureWire reported. The other partners include Mobius managing director Jason Mendelson and principals Seth Levine, Ryan McIntyre and Chris Wand.