- Managing director to become a senior adviser
- Series of changes in the firm’s staffing
- 2007 vintage fund is about 70 percent invested
Another investment professional at the firm, principal Rock Meng, also has left Vector Capital, Slusky confirmed, though it was not clear exactly when he left.
Mehta decided to step back at Vector Capital “but remains involved with the firm,” Slusky told peHUB. “He is taking some time off after 12 years in private equity,” he said. Mehta is looking at a variety of opportunities, Slusky said. Mehta could not be reached for comment.
It was not clear why Meng, who had been with Vector Capital since 2005, is no longer with the firm. He also could not be reached for comment.
Meanwhile, Vector Capital has made some significant hires in recent months. The firm brought on David Ramazetti last year as a managing director in charge of business development and deal generation across the firm. Ramazetti joined from Piper Jaffray, where he was a managing director.
Also last year, the firm hired former MCG Capital executive Andrew Jacobson as a managing director. Vector Capital also hired Ariel Garcia as a principal to focus on strategy and portfolio operations, Slusky said. Garcia joined from Boston Consulting Group in February.
The firm is investing its fourth fund, which closed on $1.2 billion in 2007. That fund is about 70 percent invested and the firm has not yet decided when to come back to market, Slusky said. Update: Fund IV was generating a 1.32x return multiple and a 9 percent internal rate of return as of Sept. 30, 2013, according to performance information from the Oregon Public Employees Retirement Fund.
Chris Witkowsky is editor of peHUB.