Saturday, 18 April 2015
Last updated 31 min ago
Oct 1 2010 | 3:38am ET
Among the casualties of D.E. Shaw’s massive round of layoffs this week is the hedge fund’s venture capital group.
The New York-based firm has cut all but three of its VC staffers, Fortune reports. Those that remain—including group head Alex Wong—will manage the venture portfolio. They will also be able to make follow-on investments, if necessary.
Wong and his (much smaller) group aren’t giving up on new investments, and are seeking new funding sources, according to the magazine. But it’s not clear whether D.E. Shaw would participate in such a venture.
The firm decided to do away with new venture capital investments as it struggles to make do with much, much less: D.E. Shaw’s assets under management have declined by almost half in the past three years.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…