D.E. Shaw Ends Venture Capital Investments

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.


In Depth

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...