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October 28, 2005

Another VC Calls It Quits

Justin Hibbard

Those of you who have enjoyed the Venture Chronicles blog by SAP Ventures' Jeff Nolan will have one less VC blogger to kick around (or cuddle). Nolan is leaving the VC business to return to an operating role inside business-software company SAP. In his farewell post, he gives reasons much different from those of Howard Anderson, who announced in June he was leaving the VC business because he thought its best days were in the past. I don't know Nolan or any of the circumstances behind his decision. He says in his post that he "started feeling a strong urge to do something different" and "missed having direct operational control." I wonder: Would he feel that way if the VC business was still pumping out the kinds of returns it was six years ago?

12:50 PM

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So as not to highjack the point, but the venture cycle is just picking up.

I'm not all yay! or anything, but the venture guys are buying all of this equity right now, and come hell or high water, but the industry is gonna make the IPOs happen.

They've done it before, they'll do it again.

Back to the point- Good luck Jeff!

Posted by: Daniel Nerezov at October 28, 2005 05:48 PM

"Would he feel that way if the VC business was still pumping out the kinds of returns it was six years ago?"

Yes. While being paid well for doing something worth doing is nothing to dismiss, it's also true for me that doing something just for money is not what I want to devolve to.

I'm really excited about the Ventures portfolio recently; Socialtext, T3Ci, Ping, Black Duck, VoiceObjects, Virsa are all really interested and well positioned investments and all deals that have been done in the last 2 years.

Posted by: Jeff Nolan at October 31, 2005 01:09 PM


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