Tenaya Capital is a

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which h ...

firm with offices in

Portola Valley, California Portola Valley is a town in San Mateo County, California. Located on the San Francisco Peninsula in the Bay Area, Portola Valley is a small, wealthy community nestled on the eastern slopes of the Santa Cruz Mountains. History Portola Valle ...

, and

Wellesley, Massachusetts Wellesley () is a town in Norfolk County, Massachusetts, United States. Wellesley is part of Greater Boston. The population was 29,550 at the time of the 2020 census. Wellesley College, Babson College, and a campus of Massachusetts Bay Communit ...

. Founded in 1995 as

Lehman Brothers Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, ...

Venture Partners, Tenaya spun out to become an independent firm in 2009 following Lehman's bankruptcy.Lehman to Spin Off Venture-Capital Arm
Wall Street Journal, February 24, 2009 It opened its seventh fund in 2015. In 2009 the firm had approximately $750 million under management.

Lehman Brothers bankruptcy and LBVP spin out

On September 15, 2008,

filed for bankruptcy protection. As part of the liquidation process,

Lazard Lazard Ltd (formerly known as Lazard Frères & Co.) is a financial advisory and asset management firm that engages in investment banking, asset management and other financial services, primarily with institutional clients. It is the world's la ...

was appointed to sell certain interests in Lehman Brothers Venture Partners and its other private investment units.Lehman Brothers Plans Private-Equity Spinoff
Wall Street Journal, January 9, 2009
IDD Magazine, September 15, 2008 In January 2009,

HarbourVest Partners HarbourVest Partners is a private equity fund of funds and one of the largest private equity investment managers globally. The firm invests in all types of private equity funds, including venture capital and leveraged buyout funds, and also di ...

, a

Boston Boston (), officially the City of Boston, is the state capital and most populous city of the Commonwealth of Massachusetts, as well as the cultural and financial center of the New England region of the United States. It is the 24th- mo ...

private equity

fund of funds A "fund of funds" (FOF) is an investment strategy of holding a portfolio of other investment funds rather than investing directly in stocks, bonds or other securities. This type of investing is often referred to as multi-manager investment. A ...

, financed the spinout of

Tenaya Tenaya (died 1853) was a leader of the Ahwahnechee people in Yosemite Valley, California. Background Tenaya's father was a leader of the Ahwahnechee people (or Awahnichi). The Ahwahneechee had become a tribe distinct from the other tribes in t ...

, acquiring Lehman's existing investment and unfunded commitments to Tenaya venture funds.

References

External links

Tenaya Capital
(company website)
Companies based in Menlo Park, California Privately held companies based in California Venture capital firms of the United States Lehman Brothers Financial services companies established in 1995 {{US-private-equity-company-stub

Lehman Brothers bankruptcy and LBVP spin out

See also

References

External links