Venture Capital Fund Drops UC
Sequoia Capital, a Silicon Valley-based venture capital fund, won’t allow the University of California to invest in its funds after a court ordered the school to reveal the performance of its private investments.
Superior Court Judge James Richman in Alameda County on July 24 ordered UC to disclose the returns after a group that includes university employees sought the information in a lawsuit.
The university will ask Richman at a hearing today to reconsider his ruling.
Sequoia “kicked us out over concern about public disclosure,” UC spokesman Trey Davis said.
Sequoia officials didn’t return calls seeking comment.