Tuesday, 30 August 2016
Last updated 31 min ago
Mar 23 2009 | 1:54pm ET
Venture capital giant Sequoia Capital’s plan to enter the hedge fund business may be a non-starter following the departure of the project’s pointmen.
Michael Beckwith and Eric Upin, who joined Sequoia last year to help it set up a hedge fund, have both left the firm. Upin, a former head of Stanford University’s endowment, has joined Makena Capital Management, founded three years ago by another former Stanford endowment chief, Michael McCaffery.
It is unclear whether Sequoia raised any money for the hedge funds to be run by Beckwith and Upin, or whether the hedge fund plans have been cancelled or merely shelved for the time being.