The venture capital community will have its collective eye on Worldview Technology Partners next week as the Palo Alto, Calif.-based firm hosts its annual limited partners meeting.
Ever since venture firms began scaling back on fund commitments earlier this year, Worldview’s $1 billion Fund IV has been rumored to be next on the cutting block. Despite such speculation, limited partners contacted for this story claim to be in the dark as to what if anything, will happen at the meeting in terms of a fund or management fee reduction.
“I’ve told them that I’d like them to seriously consider cutting the fund, but I don’t really know whether it’s going to happen,” says one institutional investor. “I’m sure it will be a major topic of discussion [at the meeting].”
Another Worldview LP says he discussed a potential fund or management fee cut earlier this year, but that the general partnership hasn’t contacted him in the four months since the conversation “For a young fund like this to not be taking these things seriously represents a very serious risk to their franchise,” he adds.
Worldview did not respond to phone calls by press time.
In other LP news, Accel Partners is unhappy that its investors have been speaking to the press about its annual April gathering. Alan Austin, managing general partner of Accel, sent LPs an email on Monday April 29 saying that neither GPs nor LPs are served by speaking to the press.
?I wish I could report that our LPs have all respected the confidence of our communications, but unfortunately within 24 hours after the meeting we started getting calls from reporters,? the email reads. ?We don?t understand how it is in the interest of any partner to share confidential information with the world, and frankly we are disappointed.?
Contact Dan Primack at: Daniel.Primack@tfn.com
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