VC firm Worldview Technology Partners closes shop; the "three strikes" rule は面白いし、勉強になります。
1. Strike one: Partner turnover begins. John Boyle, Ajit Shah and others left a few years ago. But who knows why these guys left? Perhaps differences in views about fund direction, perhaps they were underperforming. So investors call it strike one, but there's plenty of room left for Worldview to prove itself.
2. Strike two: Worldview's second fund, raised in 1998, a year that was terrific for investing in technology, doesn't do very well. Worldview focused on networking and telecom, but produced mediocre results despite the boom in that sector. It was hit badly when downturn happened. (In addition, its 1999 and 2000 funds are also showing negative returns, not a huge blow if everything is equal, but doesn't help).
3. Strike three: One of the founders leaves! Co-founder Mike Orsak last year threw in the towel on raising a new fund -- a decisive blow.
