Executive moves, week of Oct. 15, 2007

Foundation promotes Vassallo

Early stage venture firm Foundation Capital promoted Steve Vassallo to principal. Vassallo had joined the firm as an entrepreneur-in-residence and had previously been vice president of product and engineering at Ning, a consumer Internet company focused on creation of social Web applications.

Two enter Garage

and Henry Wong have joined Garage Technology Ventures as managing director and venture partner, respectively. Chung previously co-founded Cardinal Venture Capital and, before that, was a director with Adobe Ventures. Wong has served as an advisor to Garage since 2002, while also running China-focused venture fund Diamond TechVentures.

Fidelity hires McKinlay

has joined Fidelity Equity Partners as a partner in the firm’s new London office. He previously co-founded Promethean Investments and Kleinwort Capital (now called August Equity).

Verster veers over to Palamon

has joined Palamon Capital Partners as a vice president. He previously was with McKinsey & Co. as an associate principal in the firm’s London-based private equity practice.

Faust joins Gryphon

has joined Gryphon Investors as a principal with a focus on retail and consumer opportunities. He previously was a principal with Norwest Equity Partners.

Orix promotes O’Connor

Orix Venture Finance has promoted Huck O’Connor to managing director. He joined the firm in 2005 to help establish the firm’s Washington D.C. office.

Clarus MD joins Millennium board

, a managing director with Clarus Ventures, has joined the board of directors of Millennium Pharmaceuticals Inc. (Nasdaq: MLNM). Prior to joining Clarus, Leiden had served as president and COO of Abbott Labs’ global pharmaceuticals business.

Carlyle names new head of Asia operations

has joined The Carlyle Group as director in charge of Southeast Asia for Carlyle Asia Partners. Balasubrahmanyan, who will be based in Singapore, previously was with Morgan Stanley as an executive director and head of global capital markets for Southeast Asia.

Helix adds two

and Robert Rivett have joined private equity fund placement agent Helix Associates as managing directors. Gray, who will work in New York, previously was a managing director with Henniker River Advisors. Rivett, based in San Francisco, previously was co-head of the private fund group and Credit Suisse.

Katen jumps to Essex

Karen Katen has joined Essex Woodlands Health Ventures as a senior advisor in New York City. She previously was corporate vice chairman and president of Pfizer Human Health, Pfizer’s principal operating group.