Crescendo Hits Low Note and Changes Its Music

Less than two years after postponing its fifth fund-raising effort, Crescendo Ventures is in the midst of an internal restructuring that sources say is intended to act as a lifeline for the once-robust firm. This maneuvering so far has cost at least two general partners their jobs, and rumors are swirling that a third senior investor is on shaky ground.

The most recent dismissal involved Roeland Boonstoppel, who had joined the Palo Alto, Calif.-based firm in 1999 to open its London satellite office. To fill his shoes, Crescendo has promoted Ian Jenks, a former Uniphase Inc. executive, who had most recently served as a venture partner at Crescendo. Jenks has residences in both the United States and the United Kingdom, and will split his time between Palo Alto and London.

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