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.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...