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

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...