Tenaya Capital Explained

Tenaya Capital
Foundation:	1995
Location Country:	United States
Homepage:	www.tenayacapital.com
Assets:	~ $750 million

Tenaya Capital is a venture capital firm with offices in Portola Valley, California, and Wellesley, Massachusetts. Founded in 1995 as Lehman Brothers Venture Partners, Tenaya spun out to become an independent firm in 2009 following Lehman's bankruptcy.^[1] It opened its seventh fund in 2015.^[2] In 2009 the firm had approximately $750 million under management.^[3]

Lehman Brothers bankruptcy and LBVP spin out

See main article: article and Bankruptcy of Lehman Brothers. On September 15, 2008, Lehman Brothers filed for bankruptcy protection. As part of the liquidation process, Lazard was appointed to sell certain interests in Lehman Brothers Venture Partners and its other private investment units.^{[4] [5]} In January 2009, HarbourVest Partners, a Boston private equity fund of funds, financed the spinout of Tenaya, acquiring Lehman's existing investment and unfunded commitments to Tenaya venture funds.^[1]

See also

• Lehman Brothers Merchant Banking

External links

• Tenaya Capital (company website)

Notes and References

1. https://www.wsj.com/articles/SB123544348517255889 Lehman to Spin Off Venture-Capital Arm
2. News: Tenaya Capital to Start Investing $450M Seventh Fund. Wall Street Journal. 29 May 2015. Gage. Deborah.
3. Web site: Miller. Claire Cain. Lehman Brothers Spins Off Venture Capital Arm. The New York Times. 24 February 2009. 5 August 2015.
4. https://www.wsj.com/articles/SB123145912974966207 Lehman Brothers Plans Private-Equity Spinoff
5. http://www.iddmagazine.com/news/185525-1.html Lehman Brothers Merchant Banking In Limbo