Why leave a business that has made him wealthy and which he admittedly loves? Apparently because it’s time. Sacca noted he is now 42 years old and has other interests.
Sacca invested early in companies like Instagram (now part of Facebook (fb) and Uber (uber). Unlike most tech venture capitalists who tend to be based in Silicon Valley, he worked mostly hours away in Truckee, Calif. near Lake Tahoe, or in Southern California, according to this Forbes profile.
Sacca joined ABC’s Shark Tank in 2015, which he is also leaving, serving on a roster of fellow sharks that included tech entrepreneur Mark Cuban. He said he was leaving his gig on because “there simply isn’t a way to do the show without investing in a bunch more companies.”
He said he will also produce a new podcast because, well, as he noted: “The world desperately needs another podcast, am I right?”
He also said he has no plans to go into politics.
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Lowercase Capital, the company Sacca founded, will continue to look after its current portfolio companies. But it will not raise additional funds from investors. In his post on Wednesday, he hinted at more news to come from Lowercase partner Matt Mazzeo, who manages the fund’s day-to-day operations.