The lines between different alternative investments are getting blurrier. This week, Guggenheim Partners is the culprit, as the Chicago hedge fund announced a new VC group, Guggenheim Venture Partners.
The new firm, led by Michael Burns, F. Javier Fernandez and Eric Rothfus, will focus on networking and communications investments in the Mid-Atlantic, Southwest and Pacific Northwest U.S.
Rothfus will lead a new office in Austin, Texas.
“By combining lead deals and Silicon Valley co-investments with a consistent set of top-tier co-investors, we believe our limited partners will obtain access to a high quality, differentiated portfolio of start-up companies,” Burns said.