G.P. Reses Leaves Doughty for New Venture Firm –

Jackie Reses, a principal in the New York office of U.K. private equity house, Doughty Hanson & Co., last month left her position to join an Internet “accelerator” firm in San Francisco.

Reses joins Scient Corp. founder Eric Greenberg and CNET Networks Inc. founder Halsey Minor at newly established investment firm, Twelve Entrepreneuring, which will invest in and consult early-stage technology and Internet companies, said a source familiar with the situation. The firm will tap the extensive contacts its partners have in Silicon Valley and on Wall Street. The firm’s investments initially will be drawn from Greenberg’s personal wealth and from private rounds of fund-raising among Silicon Valley executives.

The source said Twelve Entrepreneuring may go public in the future.

The two remaining principals in Doughty Hanson’s New York office are Harry Green and Kevin Luzak. Doughty Hanson, which expanded to the U.S. early last year, has recently seen a number of professionals leave the firm due to disagreements with management (BUYOUTS March 6, p. 12). However, a source close to the firm said Doughty Hanson is growing quickly and will greatly increase its roster of investment professionals over the next 18 months.