FORTUNE — Formative Ventures has been on the VC walking dead list for a while, having raised its $90 million debut fund back in 2004. But now it seems that the Silicon Valley firm has stopped looking for a cure.

For starters, Formative no longer seems to have its own office. Instead, its mailing address is care of a third-party back-office administrator in Santa Clara.

More importantly, co-founding partner Dino Vendetti is raising a $15 million fund called  Seven Peaks Ventures Fund, which is based up in Bend, Oregon. And that was news to fellow co-founder Brian Connors, when I rang him earlier today.

Connors says that the firm remains in harvesting mode, and that there have not been any recent talks about a new Formative fund. The firm’s website showing four remaining portfolio companies (and another 11 that have been sold).

No word yet from the firm’s third co-founder, Clint Chao, who previously had been an executive SkyStream Networks (acquired by Tandberg TV).

Sign up for our daily email newsletter on deals and deal-makers: GetTermSheet.com