Pequot Exec. Says New York Is New Home Of VC Unit

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.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.