Kim Davis King is leaving IDG Ventures Pacific, just as the group is expected to ramp up its fund-raising efforts.
“I have no public comment on leaving IDG Ventures,” King wrote in an email to PE Week. “I plan to stay in venture capital; probably in the Southern California area and work for a conventional venture fund.”
The note about working for a “conventional” venture fund is interesting, as IDG Ventures has spent the past year trying to establish some independence from IDG. The firm’s Boston office last year raised a new fund with $180 million of commitments that mostly came from third-party limited partners, such as AlpInvest, Flag Capital Management and GIC Special Investments. More recently, IDG’s China office partnered with Accel Partners on a new fund that received most of its $290 million in capital from existing Accel LPs.
Pat Kenealy, who recently returned to IDG Ventures Pacific after having served as CEO of IDG, also declined to discuss the reasons for King’s departure. He did say, however, that the group “is likely to go ahead and raise a fund,” and that additional information would be disclosed later this week.
Kenealy is one of three remaining IDG Ventures Pacific general partners, alongside Amos Barzilay and Philippe Bouissou.