Saturday, 30 May 2015
Last updated 20 hours ago
Apr 8 2008 | 2:30pm ET
Pequot Capital Management’s venture capital division wants to be a part of it—and only it: New York, New York.
Lawrence Lenihan, managing general partner of PequotVentures, said his group has closed its Northern California office and now operates exclusively out of its New York office. The native New Yorker praised promising media and finance opportunities in the Big Apple—and the relative lack of competition from other VC funds—compared to Silicon Valley, where Lenihan said Pequot was often forced to compete on price.
He also plugged his hometown as a better VC town than the East Coast’s reigning venture capital capital, Boston.
“If you look at the deal flow and you look at the amount of companies that are being built, I think there’s been a noticeable slowdown in technology innovation in the Route 128 corridor,” Lenihan told the Reuters Hedge Fund and Private Equity Summit.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…