Bridgescale Partners has launched as a late-stage venture capital firm focused on technology, according to multiple market sources. Its principals are Rob Chaplinsky (formerly of Mohr, Davidow Ventures) and Matthew Cowan (formerly of BayStar Capital).
The new firm is marketing its debut fund with a $150 million target capitalization.
Chaplinsky isn’t commenting on his new gig, but is known to have begun openly contemplating a job change late last year, as MDV was almost done securing commitments for its $400 million eighth fund. He remained listed as a general partner when the fund held its final close – although he was not listed as a “key man.” MDV had informed limited partners of his subsequent decision to leave prior to calling down any capital.
“The move makes sense given Rob’s background and interests,” says an LP in MDV III who also is familiar with the Bridgescale offering. “It’s like what Jay Hoag did with Technology Crossover Ventures… before it became real big.”
Chaplinsky is temporarily maintaining his office in MDV’s Menlo Park, Calif., headquarters, while he transitions his board seats to remaining MDV investors.