Montana Punts, No Longer in HRJ Huddle

Four-time Super Bowl champ Joe Montana has left the general partnership team of HRJ Capital, a fund-of-funds management firm founded in 1999 by former San Francisco 49ers teammates Harris Barton and Ronnie Lott.

Firm spokesman Jeff Bloom says that Montana remains an equity holder in HRJ, but that other commitments made it impossible for him to log the necessary travel hours.

In 1999, Montana became involved with HRJ (then called Champion Ventures) as a limited partner in the firm’s $40 million inaugural VC fund-of-funds. Barton and Lott invited him to attend various portfolio firm meetings, and came away impressed with his level of interest and sophistication. When it came time to raise a follow-on fund the next year, Montana accepted an invitation to come aboard.

The VC funds-of-funds gained access to such brand-name firms as Kleiner Perkins Caufield & Byers, Sequoia Capital and Summit Partners, while its subsequent LBO fund-of-funds features such firms as Bain Capital, Blackstone Group and Kohlberg Kravis & Roberts in its portfolio.

In total, HRJ has about $225 million in capital commitments spread over eight funds (including two real estate funds-of-funds), with a limited partner base that includes professional athletes and institutions Cornell University, GIC and the Henry J. Kaiser Family Foundation, among others.

The firm has continued to staff up, despite the loss of Montana. Most recently, it hired Duran Curis away from LGT Capital, in order to help beef up its buyout practice.